Insider Selling: John J. Fisher Unloads 266,121 Shares of The Gap Stock (GPS)
The Gap (NYSE:GPS) major shareholder John J. Fisher sold 266,121 shares of the stock on the open market in a transaction dated Friday, May 16th. The stock was sold at an average price of $41.41, for a total value of $11,020,070.61. Following the completion of the transaction, the insider now directly owns 14,649,102 shares of the company’s stock, valued at approximately $606,619,314. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of The Gap (NYSE:GPS) traded down 2.18% on Tuesday, hitting $40.29. 3,265,091 shares of the company’s stock traded hands. The Gap has a 52 week low of $36.13 and a 52 week high of $46.56. The stock has a 50-day moving average of $39.85 and a 200-day moving average of $40.09. The company has a market cap of $18.010 billion and a P/E ratio of 15.03. The Gap also saw a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 9,130,946 shares, a growth of 38.4% from the April 15th total of 6,596,773 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average daily volume of 4,110,752 shares, the short-interest ratio is presently 2.2 days.
The Gap (NYSE:GPS) last released its earnings data on Thursday, February 27th. The company reported $0.68 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.66 by $0.02. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter last year, the company posted $0.73 earnings per share. The Gap’s revenue was down 3.1% compared to the same quarter last year. On average, analysts predict that The Gap will post $2.93 earnings per share for the current fiscal year.
A number of research firms have recently commented on GPS. Analysts at Canaccord Genuity raised their price target on shares of The Gap from $45.00 to $47.00 in a research note on Friday, May 9th. They now have a “hold” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Gap in a research note on Friday, April 11th. They now have a $41.00 price target on the stock. Finally, analysts at Telsey Advisory Group cut their price target on shares of The Gap from $50.00 to $46.00 in a research note on Friday, April 11th. They now have a “not rated” rating on the stock. Seventeen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $43.17.
The Gap, Inc (NYSE:GPS),is a global specialty apparel company.
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