Insider Selling: Demandware Director Sells 8,000 Shares of Stock (DWRE)
Demandware (NASDAQ:DWRE) Director Jitendra S. Saxena sold 8,000 shares of the company’s stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $52.71, for a total value of $421,680.00. Following the completion of the transaction, the director now directly owns 53,289 shares in the company, valued at approximately $2,808,863. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Separately, analysts at Goldman Sachs upgraded shares of Demandware from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 13th. They now have a $70.00 price target on the stock, up previously from $64.00. Seven investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $74.11.
Demandware (NASDAQ:DWRE) traded up 0.67% during mid-day trading on Wednesday, hitting $52.73. 417,642 shares of the company’s stock traded hands. Demandware has a 1-year low of $42.31 and a 1-year high of $82.23. The stock’s 50-day moving average is $57.34 and its 200-day moving average is $61.17. The company’s market cap is $1.905 billion.
Demandware (NASDAQ:DWRE) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.03) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.13) by $0.10. The company had revenue of $36.10 million for the quarter, compared to the consensus estimate of $33.82 million. During the same quarter last year, the company posted ($0.17) earnings per share. Demandware’s revenue was up 55.6% compared to the same quarter last year. Analysts expect that Demandware will post $-0.05 EPS for the current fiscal year.
Demandware, Inc (NASDAQ:DWRE) is a provider of software-as-a-service e-commerce solutions that enable companies to design, implement and manage their own customized e-commerce sites, including Websites, mobile applications and other digital storefronts.
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