Insider Selling: NetSuite CEO Sells 2,518 Shares of Stock (N)
NetSuite (NYSE:N) CEO Zachary Nelson sold 2,518 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $82.98, for a total transaction of $208,943.64. Following the sale, the chief executive officer now directly owns 1,020,052 shares of the company’s stock, valued at approximately $84,643,915. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of NetSuite (NYSE:N) traded up 1.91% during mid-day trading on Tuesday, hitting $84.40. 432,828 shares of the company’s stock traded hands. NetSuite has a 52 week low of $69.48 and a 52 week high of $120.77. The stock’s 50-day moving average is $82. and its 200-day moving average is $88.81. The company’s market cap is $6.450 billion.
NetSuite (NYSE:N) last released its earnings data on Thursday, July 24th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. Analysts expect that NetSuite will post $0.26 EPS for the current fiscal year.
A number of research firms have recently commented on N. 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $103.24.
NetSuite Inc (NYSE:N) is a provider of cloud-based financials / Enterprise Resource Planning (ERP) software suites.
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