Insider Selling: SunPower EVP Sells 5,308 Shares of Stock (SPWR)
SunPower (NASDAQ:SPWR) EVP Douglas J. Richards sold 5,308 shares of SunPower stock on the open market in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $33.83, for a total transaction of $179,569.64. Following the transaction, the executive vice president now directly owns 24,155 shares in the company, valued at approximately $817,164. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
SPWR has been the subject of a number of recent research reports. Analysts at Brean Capital reiterated a “buy” rating on shares of SunPower in a research note on Thursday, May 15th. They now have a $32.00 price target on the stock. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. SunPower presently has an average rating of “Buy” and an average target price of $37.30.
SunPower (NASDAQ:SPWR) traded down 1.04% during mid-day trading on Monday, hitting $33.429. 2,411,264 shares of the company’s stock traded hands. SunPower has a 52-week low of $17.52 and a 52-week high of $37.14. The stock has a 50-day moving average of $32.67 and a 200-day moving average of $31.70. The company has a market cap of $4.369 billion and a P/E ratio of 22.95.
SunPower (NASDAQ:SPWR) last released its earnings data on Thursday, April 24th. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.17. The company had revenue of $683.70 million for the quarter, compared to the consensus estimate of $669.37 million. During the same quarter last year, the company posted $0.22 earnings per share. SunPower’s revenue was up 19.0% compared to the same quarter last year. Analysts expect that SunPower will post $1.31 EPS for the current fiscal year.
SunPower Corporation operates in two business segments: the Utility and Power Plants (NASDAQ:SPWR) Segment and the Residential and Commercial (R&C) Segment.
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