Insider Selling: Audience major shareholder Sells 200,000 Shares of Stock (ADNC)
Audience (NASDAQ:ADNC) major shareholder Vulcan Capital Venture Capital sold 200,000 shares of Audience stock on the open market in a transaction dated Friday, August 22nd. The stock was sold at an average price of $8.65, for a total transaction of $1,730,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
A number of research firms have recently commented on ADNC. Analysts at Pacific Crest initiated coverage on shares of Audience in a research note on Thursday, August 7th. They set an “outperform” rating on the stock. Separately, analysts at Zacks downgraded shares of Audience from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 6th. They now have a $7.80 price target on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Audience from $14.00 to $13.00 in a research note on Friday, August 1st. They now have an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Audience has an average rating of “Hold” and a consensus target price of $10.11.
Shares of Audience (NASDAQ:ADNC) traded down 1.71% on Monday, hitting $8.60. 88,925 shares of the company’s stock traded hands. Audience has a 52-week low of $7.80 and a 52-week high of $13.59. The stock’s 50-day moving average is $9.56 and its 200-day moving average is $11.41. The company’s market cap is $195.3 million.
Audience (NASDAQ:ADNC) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $37.50 million for the quarter, compared to the consensus estimate of $38.60 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. Analysts expect that Audience will post $-0.93 EPS for the current fiscal year.
Audience, Inc, incorporated on is a provider of voice and audio solutions that improve voice quality and the user experience in mobile devices.
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