Insider Selling: David Coit Sells 163,604 Shares of Tangoe Stock (TNGO)
Tangoe (NASDAQ:TNGO) Director David Coit sold 163,604 shares of Tangoe stock on the open market in a transaction dated Monday, September 16th. The stock was sold at an average price of $23.04, for a total value of $3,769,436.16. Following the completion of the sale, the director now directly owns 9,446 shares in the company. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on TNGO. Analysts at Barclays Capital raised their price target on shares of Tangoe (NASDAQ:TNGO) from $23.00 to $25.00 in a research note to investors on Friday, August 9th. Separately, analysts at Stifel Nicolaus raised their price target on shares of Tangoe (NASDAQ:TNGO) from $20.00 to $22.00 in a research note to investors on Thursday, August 8th. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Tangoe (NASDAQ:TNGO) in a research note to investors on Thursday, August 8th. They now have a $28.00 price target on the stock.
One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.00.
Shares of Tangoe (NASDAQ:TNGO) traded down 0.92% on Monday, hitting $22.72. The stock had a trading volume of 481,220 shares. Tangoe has a 52-week low of $11.53 and a 52-week high of $23.72. The stock’s 50-day moving average is $19.88 and its 200-day moving average is $15.50. The company has a market cap of $852.8 million and a price-to-earnings ratio of 210.37.
Tangoe (NASDAQ:TNGO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.16. The company had revenue of $46.40 million for the quarter, compared to the consensus estimate of $45.90 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis. Analysts expect that Tangoe will post $0.69 EPS for the current fiscal year.
Tangoe, Inc (NASDAQ:TNGO) is a global provider of communications lifecycle management (CLM), software and services to a range of enterprises, including large and medium-sized businesses and other organizations.
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