Insider Selling: Model N SVP Sells 1,898 Shares of Stock (MODN)
Model N (NASDAQ:MODN) SVP Michael Laroche sold 1,898 shares of the stock on the open market in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $9.33, for a total value of $17,708.34. Following the completion of the sale, the senior vice president now directly owns 8,102 shares in the company, valued at approximately $75,592. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Model N (NASDAQ:MODN) opened at 9.24 on Tuesday. Model N has a 52-week low of $7.55 and a 52-week high of $15.26. The stock’s 50-day moving average is $9.49 and its 200-day moving average is $10.30. The company’s market cap is $229.7 million.
Model N (NASDAQ:MODN) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was down 29.0% on a year-over-year basis. On average, analysts predict that Model N will post $-0.45 earnings per share 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 analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average 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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