Insider Selling: Groupon CEO Eric P. Lefkofsky Sells 454,166 Shares of Stock (GRPN)
Groupon (NASDAQ:GRPN) CEO Eric P. Lefkofsky sold 454,166 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $5.84, for a total value of $2,652,329.44. Following the transaction, the chief executive officer now directly owns 431,455 shares in the company, valued at approximately $2,519,697. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on GRPN. Analysts at Zacks reiterated a “neutral” rating on shares of Groupon in a research note on Friday, August 8th. They now have a $6.25 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Groupon in a research note on Wednesday, August 6th. They now have a $6.50 price target on the stock, down previously from $10.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Groupon in a research note on Wednesday, August 6th. They now have a $7.00 price target on the stock, down previously from $8.00. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $8.36.
Shares of Groupon (NASDAQ:GRPN) traded up 1.39% on Thursday, hitting $5.84. 7,972,121 shares of the company’s stock traded hands. Groupon has a 52 week low of $5.18 and a 52 week high of $12.76. The stock has a 50-day moving average of $6.3 and a 200-day moving average of $7.35. The company’s market cap is $3.909 billion. Groupon also saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 84,837,914 shares, a decrease of 4.0% from the July 15th total of 88,389,748 shares. Approximately 18.6% of the company’s stock are sold short. Based on an average daily volume of 12,274,217 shares, the short-interest ratio is currently 6.9 days.
Groupon (NASDAQ:GRPN) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.01 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.01. The company had revenue of $751.60 million for the quarter, compared to the consensus estimate of $762.07 million. During the same quarter last year, the company posted $0.02 earnings per share. Groupon’s revenue was up 23.5% compared to the same quarter last year. On average, analysts predict that Groupon will post $0.08 earnings per share for the current fiscal year.
Groupon, Inc (NASDAQ:GRPN) is a local e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount.
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