Insider Selling: Albert R. Jr. Subbloie Sells 20,000 Shares of Tangoe Stock (TNGO)
Tangoe (NASDAQ:TNGO) CEO Albert R. Jr. Subbloie sold 20,000 shares of the company’s stock on the open market in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $13.39, for a total value of $267,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,688,572 shares in the company, valued at approximately $22,609,979. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Tangoe (NASDAQ:TNGO) traded up 1.82% during mid-day trading on Friday, hitting $13.98. The stock had a trading volume of 203,316 shares. 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 $14.74 and its 200-day moving average is $16.8. The company has a market cap of $540.8 million and a P/E ratio of 167.44.
Tangoe (NASDAQ:TNGO) last released its earnings data 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. Analysts expect that Tangoe will post $0.79 EPS for the current fiscal year.
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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Tangoe has a consensus rating of “Buy” and an average price target 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.