Adept Technology Major Shareholder Unloads $1,683,000 in Stock (ADEP)
Adept Technology (NASDAQ:ADEP) major shareholder Austin & Greenhouse Da Marxe sold 100,000 shares of Adept Technology stock on the open market in a transaction dated Friday, January 3rd. The shares were sold at an average price of $16.83, for a total transaction of $1,683,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Adept Technology (NASDAQ:ADEP) traded up 0.63% during mid-day trading on Tuesday, hitting $17.278. The stock had a trading volume of 79,408 shares. Adept Technology has a 1-year low of $2.65 and a 1-year high of $17.98. The stock’s 50-day moving average is $12.28 and its 200-day moving average is $7.32. The company’s market cap is $189.7 million.
A number of research firms have recently commented on ADEP. Analysts at Dougherty & Co initiated coverage on shares of Adept Technology in a research note to investors on Tuesday, November 19th. They set a “buy” rating and a $15.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Adept Technology from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, November 12th. They now have a $10.40 price target on the stock. Finally, analysts at Lake Street Capital initiated coverage on shares of Adept Technology in a research note to investors on Monday, November 11th. They set a “buy” rating on the stock.
Adept Technology, Inc (NASDAQ:ADEP) provides robotics systems and services helping its customers in their assembly, handling, packaging, testing, warehousing, logistics and other automated processes, in both fixed repetitive and unstructured environments.
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