Insider Selling: Google Director Sells 8,297 Shares of Stock (GOOG)
Google (NASDAQ:GOOG) Director L John Doerr sold 8,297 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $1,205.00, for a total value of $9,997,885.00. Following the completion of the transaction, the director now directly owns 248 shares of the company’s stock, valued at approximately $298,840. The sale was disclosed in a document filed with the SEC, which is available at 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 on Wednesday, February 5th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Google in a research note on Tuesday, February 4th. 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 on Tuesday, February 4th. They now have a “buy” rating on the stock. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $1,204.18.
Google (NASDAQ:GOOG) traded down 0.71% during mid-day trading on Wednesday, hitting $1202.34. 2,105,697 shares of the company’s stock traded hands. Google has a one year low of $761.26 and a one year high of $1212.87. The stock has a 50-day moving average of $1150. and a 200-day moving average of $1008.. The company has a market cap of $404.0 billion and a P/E ratio of 31.85. Google also was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 2,730,379 shares, a drop of 30.5% from the January 15th total of 3,931,374 shares. Based on an average trading volume of 3,043,500 shares, the short-interest ratio is presently 0.9 days. Currently, 1.0% of the company’s shares are sold short.
Google (NASDAQ:GOOG) last announced its earnings results 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. On average, analysts predict that Google will post $51.81 earnings per share 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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