Douglas P. Solomon Sells 300 Shares of NetSuite Stock (N)
NetSuite (NYSE:N) SVP Douglas P. Solomon sold 300 shares of the company’s stock on the open market in a transaction dated Monday, August 11th. The shares were sold at an average price of $82.34, for a total transaction of $24,702.00. Following the completion of the sale, the senior vice president now directly owns 26,816 shares in the company, valued at approximately $2,208,029. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
NetSuite (NYSE:N) traded up 0.27% on Friday, hitting $82.88. 43,324 shares of the company’s stock traded hands. NetSuite has a one year low of $69.48 and a one year high of $120.77. The stock’s 50-day moving average is $83.20 and its 200-day moving average is $89.58. The company’s market cap is $6.334 billion.
NetSuite (NYSE:N) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.03 by $0.03. The company had revenue of $131.80 million for the quarter, compared to the consensus estimate of $131.84 million. During the same quarter last year, the company posted $0.05 earnings per share. NetSuite’s revenue was up 30.5% compared to the same quarter last year. On average, analysts predict that NetSuite will post $0.26 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on N shares. Analysts at Deutsche Bank reiterated a “buy” rating on shares of NetSuite in a research note on Friday, July 25th. They now have a $100.00 price target on the stock, up previously from $90.00. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of NetSuite in a research note on Friday, July 25th. They now have a $115.00 price target on the stock, down previously from $125.00. Finally, analysts at Barclays raised their price target on shares of NetSuite from $94.00 to $96.00 in a research note on Friday, July 25th. They now have an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. NetSuite presently has an average rating of “Buy” and an average price target of $103.24.
NetSuite Inc (NYSE:N) is a provider of cloud-based financials / Enterprise Resource Planning (ERP) software suites.
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