Dealertrack Technologies CEO Unloads $1,674,050 in Stock (TRAK)
Dealertrack Technologies (NASDAQ:TRAK) CEO Mark Oneil sold 35,000 shares of Dealertrack Technologies stock on the open market in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $47.83, for a total transaction of $1,674,050.00. Following the transaction, the chief executive officer now directly owns 248,004 shares in the company, valued at approximately $11,862,031. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on TRAK shares. Analysts at Barclays downgraded shares of Dealertrack Technologies from an “equal weight” rating to an “underweight” rating in a research note to investors on Tuesday, November 26th. Separately, analysts at Evercore Partners raised their price target on shares of Dealertrack Technologies to $45.00 in a research note to investors on Wednesday, November 6th. Finally, analysts at Zacks downgraded shares of Dealertrack Technologies from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, October 8th. They now have a $46.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. Dealertrack Technologies has an average rating of “Hold” and an average target price of $40.00.
Dealertrack Technologies (NASDAQ:TRAK) traded up 0.67% during mid-day trading on Thursday, hitting $48.40. 530,815 shares of the company’s stock traded hands. Dealertrack Technologies has a 1-year low of $26.28 and a 1-year high of $50.30. The stock has a 50-day moving average of $43.23 and a 200-day moving average of $40.11. The company has a market cap of $2.125 billion and a P/E ratio of 216.58.
Dealertrack Technologies (NASDAQ:TRAK) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.05. The company had revenue of $124.60 million for the quarter, compared to the consensus estimate of $120.47 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 25.7% on a year-over-year basis. Analysts expect that Dealertrack Technologies will post $1.30 EPS for the current fiscal year.
DealerTrack Technologies, Inc, formerly DealerTrack Holdings, Inc, is a holding company. Its Web-based software solutions and services are provided for all segments of the automotive retail industry, including dealers, lenders, other equipment manufacturers (NASDAQ:TRAK), third party retailers, agents and aftermarket providers.
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