DealerTrack Technologies Director Sells $61,710 in Stock (TRAK)
DealerTrack Technologies (NASDAQ:TRAK) Director Barry Zwarenstein sold 1,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $41.14, for a total value of $61,710.00. Following the transaction, the director now directly owns 47,078 shares of the company’s stock, valued at approximately $1,936,789. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of DealerTrack Technologies (NASDAQ:TRAK) traded down 1.45% on Thursday, hitting $40.85. The stock had a trading volume of 417,889 shares. DealerTrack Technologies has a 52-week low of $32.42 and a 52-week high of $58.84. The stock’s 50-day moving average is $42. and its 200-day moving average is $46.39. The company’s market cap is $2.189 billion. DealerTrack Technologies also was the recipient of a significant growth in short interest in May. As of May 30th, there was short interest totalling 4,395,656 shares, a growth of 39.7% from the May 15th total of 3,145,708 shares. Based on an average daily trading volume, of 726,677 shares, the short-interest ratio is presently 6.0 days. Approximately 8.9% of the shares of the company are short sold.
DealerTrack Technologies (NASDAQ:TRAK) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.23 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.06. The company had revenue of $158.80 million for the quarter, compared to the consensus estimate of $155.74 million. During the same quarter last year, the company posted $0.27 earnings per share. DealerTrack Technologies’s revenue was up 45.6% compared to the same quarter last year. On average, analysts predict that DealerTrack Technologies will post $1.48 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Macquarie upgraded shares of DealerTrack Technologies from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 20th. They now have a $60.00 price target on the stock. Analysts at Zacks downgraded shares of DealerTrack Technologies from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 22nd. They now have a $53.50 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $53.30.
Dealertrack Technologies, Inc (NASDAQ:TRAK), is a holding company and conducts a substantial amounts of its business through its subsidiaries.
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