Tangoe CEO Sells $286,400 in Stock (TNGO)
Tangoe (NASDAQ:TNGO) CEO Albert R. Jr. Subbloie unloaded 20,000 shares of Tangoe stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $14.32, for a total value of $286,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,688,572 shares in the company, valued at approximately $24,180,351. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
TNGO has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Tangoe in a research note on Thursday, May 22nd. They now have a $22.00 price target on the stock. Finally, analysts at Barclays cut their price target on shares of Tangoe from $24.00 to $22.00 in a research note on Friday, May 9th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Tangoe currently has a consensus rating of “Buy” and an average price target of $23.80.
Tangoe (NASDAQ:TNGO) traded up 0.28% during mid-day trading on Friday, hitting $14.30. 254,626 shares of the company’s stock traded hands. Tangoe has a 52-week low of $11.33 and a 52-week high of $26.05. The stock has a 50-day moving average of $14.90 and a 200-day moving average of $16.98. The company has a market cap of $553.2 million and a P/E ratio of 173.90.
Tangoe (NASDAQ:TNGO) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.17 by $0.02. The company had revenue of $50.40 million for the quarter, compared to the consensus estimate of $50.98 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. On average, analysts predict that Tangoe will post $0.79 earnings per share for the current fiscal year.
Tangoe, Inc (NASDAQ:TNGO) is a global provider of communications lifecycle management (CLM), software and services to a range of enterprises, including large and medium-sized businesses and other organizations.
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