Insider Selling: Gary Martino Unloads 6,000 Shares of Tangoe Stock (TNGO)
Tangoe (NASDAQ:TNGO) CFO Gary Martino sold 6,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $14.77, for a total transaction of $88,620.00. Following the sale, the chief financial officer now directly owns 315,108 shares in the company, valued at approximately $4,654,145. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on TNGO shares. 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 issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.80.
Shares of Tangoe (NASDAQ:TNGO) traded up 0.93% during mid-day trading on Friday, hitting $15.13. 312,161 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’s 50-day moving average is $14.75 and its 200-day moving average is $16.95. The company has a market cap of $585.3 million and a P/E ratio of 182.80.
Tangoe (NASDAQ:TNGO) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. Analysts expect that Tangoe will post $0.79 EPS 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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