Insider Selling: Google major shareholder Unloads 83,334 Shares of Stock (GOOG)
Google (NASDAQ:GOOG) major shareholder Sergey Brin sold 83,334 shares of the stock on the open market in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $1,144.84, for a total value of $95,404,096.56. Following the sale, the insider now directly owns 75,000 shares in the company, valued at approximately $85,863,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Google (NASDAQ:GOOG) traded up 0.53% on Wednesday, hitting $1144.20. The stock had a trading volume of 1,938,194 shares. Google has a one year low of $758.50 and a one year high of $1186.54. The stock’s 50-day moving average is $1126. and its 200-day moving average is $987.0. The company has a market cap of $383.1 billion and a price-to-earnings ratio of 29.85.
Google (NASDAQ:GOOG) last issued its quarterly earnings data on Friday, January 31st. The company reported $12.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $12.21 by $0.20. The company had revenue of $16.86 billion for the quarter, compared to the consensus estimate of $13.41 billion. On average, analysts predict that Google will post $51.99 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Sanford C. Bernstein raised their price target on shares of Google from $1,350.00 to $1,500.00 in a research note to investors on Wednesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Google in a research note to investors on Tuesday. They now have a $1,192.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of Google from $1,210.00 to $1,350.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company. Google has a consensus rating of “Buy” and an average price target of $1,193.60.
Google Inc (NASDAQ:GOOG) is a global technology company focused on improving the ways people connect with information.
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