NetSuite CFO Sells $196,889 in Stock (N)
NetSuite (NYSE:N) CFO Ronald S. Gill sold 2,557 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $77.00, for a total transaction of $196,889.00. Following the sale, the chief financial officer now directly owns 60,646 shares in the company, valued at approximately $4,669,742. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
N has been the subject of a number of recent research reports. 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 issued a hold rating and eleven have given a buy rating to the stock. NetSuite has a consensus rating of “Buy” and a consensus target price of $105.53.
Shares of NetSuite (NYSE:N) traded up 1.50% on Thursday, hitting $78.25. 577,122 shares of the company’s stock traded hands. NetSuite has a 1-year low of $69.48 and a 1-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 saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 3,033,658 shares, a growth of 84.4% from the April 30th total of 1,645,570 shares. Approximately 9.1% of the company’s stock are short sold. Based on an average daily volume of 1,111,581 shares, the days-to-cover ratio is currently 2.7 days.
NetSuite (NYSE:N) last announced its earnings results on Monday, April 28th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 34.3% on a year-over-year basis. On average, analysts predict that NetSuite will post $0.27 earnings per share for the current fiscal year.
NetSuite Inc (NYSE:N) is a provider of cloud-based financials / Enterprise Resource Planning (ERP) software suites.
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