Insider Selling: Vera Bradley major shareholder Unloads 10,000 Shares of Stock (VRA)
Vera Bradley (NYSE:VRA) major shareholder Michael C. Ray sold 10,000 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $21.84, for a total value of $218,400.00. Following the transaction, the insider now directly owns 884,998 shares of the company’s stock, valued at approximately $19,328,356. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Several analysts have recently commented on the stock. Analysts at Standpoint Research upgraded shares of Vera Bradley from a “hold” rating to a “buy” rating in a research note on Wednesday, July 2nd. Separately, analysts at Buckingham Research initiated coverage on shares of Vera Bradley in a research note on Tuesday, June 24th. They set a “neutral” rating and a $21.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Vera Bradley from a “neutral” rating to an “underperform” rating in a research note on Monday, June 9th. They now have a $22.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Vera Bradley has an average rating of “Hold” and a consensus target price of $26.14.
Vera Bradley (NYSE:VRA) traded down 1.99% during mid-day trading on Monday, hitting $21.64. 394,365 shares of the company’s stock traded hands. Vera Bradley has a 52 week low of $17.27 and a 52 week high of $30.00. The stock has a 50-day moving average of $24.25 and a 200-day moving average of $25.68. The company has a market cap of $880.4 million and a price-to-earnings ratio of 16.00.
Vera Bradley (NYSE:VRA) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.03. The company had revenue of $113.50 million for the quarter, compared to the consensus estimate of $118.41 million. During the same quarter last year, the company posted $0.23 earnings per share. Vera Bradley’s revenue was down 7.7% compared to the same quarter last year. On average, analysts predict that Vera Bradley will post $1.05 earnings per share for the current fiscal year.
Vera Bradley, Inc (NYSE:VRA) is a designer, producer, marketer, and retailer of functional accessories for women.
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