Traders Buy High Volume of Put Options on Google (GOOG)
Google (NASDAQ:GOOG) was the recipient of some unusual options trading activity on Friday. Stock traders acquired 13,759 put options on the company, Stock Ratings Network.com reports. This is an increase of 499% compared to the typical daily volume of 2,297 put options.
In other Google news, CEO Lawrence Page sold 20,835 shares of the company’s stock on the open market in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $893.06, for a total value of $18,606,905.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Google (NASDAQ:GOOG) in a research note to investors on Friday, September 6th. They now have a $970.00 price target on the stock. Separately, analysts at Pivotal Research set a $870.00 price target on shares of Google (NASDAQ:GOOG) in a research note to investors on Thursday, September 5th. They now have a “hold” rating on the stock.
One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $968.87.
Shares of Google (NASDAQ:GOOG) traded down 0.45% on Friday, hitting $889.068. The stock had a trading volume of 1,326,286 shares. Google has a 52-week low of $636.00 and a 52-week high of $928.00. The stock has a 50-day moving average of $878.3 and a 200-day moving average of $857.3. The company has a market cap of $296.1 billion and a P/E ratio of 25.84.
Google (NASDAQ:GOOG) last released its earnings data on Thursday, July 18th. The company reported $9.56 EPS for the quarter, missing the Thomson Reuters consensus estimate of $10.78 by $1.22. The company had revenue of $14.11 billion for the quarter, compared to the consensus estimate of $14.42 billion. During the same quarter in the prior year, the company posted $10.12 earnings per share. The company’s quarterly revenue was up 18.6% on a year-over-year basis. Analysts expect that Google will post $43.57 EPS for the current fiscal year.
Google Inc (NASDAQ:GOOG) is a global technology company focused on improving the ways people connect with information.
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