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NetSuite (NYSE:N) CEO Zachary Nelson sold 6,552 shares of NetSuite stock on the open market in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $76.99, for a total transaction of $504,438.48. Following the sale, the chief executive officer now directly owns 1,022,570 shares of the company’s stock, valued at approximately $78,727,664. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of NetSuite (NYSE:N) traded up 1.50% during mid-day trading on Thursday, hitting $78.25. 577,122 shares of the company’s stock traded hands. NetSuite has a one year low of $69.48 and a one year high of $120.77. The stock’s 50-day moving average is $77.64 and its 200-day moving average is $95.35. The company’s market cap is $5.931 billion. NetSuite also was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 3,033,658 shares, an increase of 84.4% from the April 30th total of 1,645,570 shares. Based on an average trading volume of 1,111,581 shares, the days-to-cover ratio is currently 2.7 days. Currently, 9.1% of the shares of the stock are sold short.

NetSuite (NYSE:N) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.04. The company had revenue of $123.00 million for the quarter, compared to the consensus estimate of $120.92 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 34.3% on a year-over-year basis. Analysts expect that NetSuite will post $0.27 EPS for the current fiscal year.

A number of research firms have recently commented on N. Analysts at Mizuho initiated coverage on shares of NetSuite in a research note on Monday. They set a “neutral” rating and a $80.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Barclays reiterated an “overweight” rating on shares of NetSuite in a research note on Friday, May 23rd. They now have a $94.00 price target on the stock, down previously from $116.00. Finally, analysts at Goldman Sachs cut their price target on shares of NetSuite from $115.00 to $92.00 in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. NetSuite presently has an average rating of “Buy” and a consensus target price of $105.53.

NetSuite Inc (NYSE:N) is a provider of cloud-based financials / Enterprise Resource Planning (ERP) software suites.

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