Insider Selling: DealerTrack Technologies Director Sells 1,500 Shares of Stock (TRAK)
DealerTrack Technologies (NASDAQ:TRAK) Director Barry Zwarenstein sold 1,500 shares of the stock on the open market in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $45.85, for a total transaction of $68,775.00. Following the completion of the sale, the director now directly owns 44,078 shares of the company’s stock, valued at approximately $2,020,976. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on TRAK. Analysts at JPMorgan Chase & Co. raised their price target on shares of DealerTrack Technologies from $53.00 to $56.00 in a research note on Tuesday. Analysts at Macquarie upgraded shares of DealerTrack Technologies from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 20th. They now have a $60.00 price target on the stock. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $57.25.
DealerTrack Technologies (NASDAQ:TRAK) traded down 0.37% during mid-day trading on Wednesday, hitting $46.23. 965,009 shares of the company’s stock traded hands. DealerTrack Technologies has a 52-week low of $36.43 and a 52-week high of $58.84. The stock has a 50-day moving average of $40.71 and a 200-day moving average of $45.00. The company’s market cap is $2.480 billion. DealerTrack Technologies also was the recipient of some unusual options trading on Tuesday. Traders purchased 1,543 call options on the company. This is an increase of 972% compared to the average daily volume of 144 call options.
DealerTrack Technologies (NASDAQ:TRAK) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $224.80 million for the quarter, compared to the consensus estimate of $213.45 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 84.6% on a year-over-year basis. On average, analysts predict that DealerTrack Technologies will post $1.51 earnings per share for the current fiscal year.
Dealertrack Technologies, Inc (NASDAQ:TRAK), is a holding company and conducts a substantial amounts of its business through its subsidiaries.
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