Insider Selling: Patrick Pichette Sells 3,730 Shares of Google Stock (GOOG)
Google (NASDAQ:GOOG) CFO Patrick Pichette sold 3,730 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,150.72, for a total value of $4,292,185.60. Following the completion of the sale, the chief financial officer now directly owns 1,408 shares in the company, valued at approximately $1,620,214. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on GOOG shares. 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. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $1,204.18.
Google (NASDAQ:GOOG) traded up 1.51% on Friday, hitting $1177.4399. 2,687,308 shares of the company’s stock traded hands. Google has a one year low of $761.26 and a one year high of $1186.54. The stock has a 50-day moving average of $1133. and a 200-day moving average of $991.. The company has a market cap of $394.2 billion and a price-to-earnings ratio of 29.98. Google also saw a large decrease in short interest in January. As of January 15th, there was short interest totalling 3,931,374 shares, a decrease of 24.8% from the December 31st total of 4,906,793 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 2,096,771 shares, the days-to-cover ratio is currently 1.9 days.
Google (NASDAQ:GOOG) last issued its quarterly earnings data on Friday, January 31st. The company reported $12.01 EPS for the quarter, missing the Thomson Reuters 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. Analysts expect that Google will post $51.86 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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