Insider Selling: Michael Laroche Unloads 1,898 Shares of Model N Stock (MODN)
Model N (NASDAQ:MODN) SVP Michael Laroche sold 1,898 shares of Model N stock on the open market in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $9.33, for a total transaction of $17,708.34. Following the completion of the sale, the senior vice president now directly owns 8,102 shares of the company’s stock, valued at approximately $75,592. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Separately, analysts at Northland Securities initiated coverage on shares of Model N in a research note on Wednesday, July 9th. They set an “outperform” rating and a $13.00 price target on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.80.
Model N (NASDAQ:MODN) opened at 9.04 on Friday. Model N has a 1-year low of $7.55 and a 1-year high of $15.48. The stock’s 50-day moving average is $9.51 and its 200-day moving average is $10.31. The company’s market cap is $224.7 million.
Model N (NASDAQ:MODN) last released its earnings data on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.15) by $0.01. The company had revenue of $19.30 million for the quarter, compared to the consensus estimate of $19.30 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was down 29.0% on a year-over-year basis. Analysts expect that Model N will post $-0.45 EPS for the current fiscal year.
Model N Inc is a United States-based company, which provides revenue management solutions for the life science and technology industries.
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