Insider Selling: FleetCor Technologies CEO Unloads 130,000 Shares of Stock (FLT)
FleetCor Technologies (NYSE:FLT) CEO Ronald Clarke sold 130,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $148.18, for a total value of $19,263,400.00. Following the completion of the sale, the chief executive officer now directly owns 539,283 shares in the company, valued at approximately $79,910,955. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of FleetCor Technologies (NYSE:FLT) traded down 1.45% on Wednesday, hitting $145.00. 555,181 shares of the company’s stock traded hands. FleetCor Technologies has a 52 week low of $98.41 and a 52 week high of $149.92. The stock’s 50-day moving average is $136.0 and its 200-day moving average is $125.7. The company has a market cap of $12.071 billion and a P/E ratio of 40.53.
FleetCor Technologies (NYSE:FLT) last released its earnings data on Thursday, July 31st. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. The company had revenue of $273.50 million for the quarter, compared to the consensus estimate of $273.70 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, analysts predict that FleetCor Technologies will post $5.09 earnings per share for the current fiscal year.
A number of research firms have recently commented on FLT. Analysts at Jefferies Group raised their price target on shares of FleetCor Technologies from $139.00 to $149.00 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of FleetCor Technologies in a research note on Friday, August 1st. They now have a $155.00 price target on the stock, up previously from $150.00. Finally, analysts at Piper Jaffray initiated coverage on shares of FleetCor Technologies in a research note on Wednesday, July 16th. They set a “neutral” rating and a $134.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. FleetCor Technologies currently has a consensus rating of “Buy” and a consensus price target of $143.00.
FleetCor Technologies, Inc is an independent global provider of fuel cards and workforce payment products and services to businesses, commercial fleets, major oil companies, petroleum marketers and government entities in countries throughout North America, Latin America and Europe.
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