Insider Selling: Tangoe Director Sells 8,425 Shares of Stock (TNGO)
Tangoe (NASDAQ:TNGO) Director Ronald W. Kaiser sold 8,425 shares of the stock on the open market in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $14.27, for a total transaction of $120,224.75. Following the completion of the transaction, the director now directly owns 55,444 shares in the company, valued at approximately $791,186. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Tangoe (NASDAQ:TNGO) traded down 2.04% during mid-day trading on Monday, hitting $13.96. 383,102 shares of the company’s stock traded hands. Tangoe has a one year low of $11.33 and a one year high of $26.05. The stock has a 50-day moving average of $14.85 and a 200-day moving average of $16.91. The company has a market cap of $540.0 million and a P/E ratio of 173.78.
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.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $23.80.
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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