Insider Selling: Model N SVP Unloads 1,898 Shares of Stock (MODN)
Model N (NASDAQ:MODN) SVP Michael Laroche sold 1,898 shares of Model N stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $9.33, for a total value of $17,708.34. Following the completion of the transaction, 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 is available at this link.
Model N (NASDAQ:MODN) opened at 9.04 on Friday. Model N has a 52-week low of $7.55 and a 52-week 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 announced its earnings results 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 last year, the company posted $0.14 earnings per share. Model N’s revenue was down 29.0% compared to the same quarter last year. Analysts expect that Model N will post $-0.45 EPS for the current fiscal year.
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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Model N currently has a consensus rating of “Hold” and a consensus target price of $18.80.
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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