Insider Selling: Vulcan Capital Venture Capital Sells 322,200 Shares of Audience Stock (ADNC)
Audience (NASDAQ:ADNC) major shareholder Vulcan Capital Venture Capital sold 322,200 shares of Audience stock on the open market in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $11.83, for a total transaction of $3,811,626.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Audience from $14.50 to $17.00 in a research note on Friday, May 2nd. Separately, analysts at Credit Suisse raised their price target on shares of Audience from $10.00 to $11.00 in a research note on Friday, May 2nd. They now have a “neutral” rating on the stock. Finally, analysts at Topeka Capital Markets initiated coverage on shares of Audience in a research note on Monday, March 24th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.00.
Audience (NASDAQ:ADNC) traded up 1.31% during mid-day trading on Thursday, hitting $12.35. 217,005 shares of the company’s stock traded hands. Audience has a 52 week low of $8.86 and a 52 week high of $14.39. The stock has a 50-day moving average of $11.88 and a 200-day moving average of $11.56. The company’s market cap is $276.3 million.
Audience (NASDAQ:ADNC) last released its earnings data on Thursday, May 1st. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.18) by $0.03. The company had revenue of $36.08 million for the quarter, compared to the consensus estimate of $34.75 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue was down 23.6% on a year-over-year basis. On average, analysts predict that Audience will post $-0.22 earnings per share for the current fiscal year.
Audience, Inc, is a provider of voice and audio solutions that improve voice quality and the user experience in mobile devices.
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