Insider Selling: Google major shareholder Sells 166,668 Shares of Stock (GOOG)
Google (NASDAQ:GOOG) major shareholder Sergey Brin sold 166,668 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $581.05, for a total transaction of $96,842,441.40. Following the sale, the insider now directly owns 22,735,278 shares in the company, valued at approximately $13,210,333,282. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
GOOG has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus initiated coverage on shares of Google in a research note on Wednesday, August 13th. They set a “buy” rating and a $700.00 price target on the stock. Separately, analysts at Argus reiterated a “buy” rating on shares of Google in a research note on Monday, July 21st. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Google in a research note on Friday, July 18th. They now have a $655.00 price target on the stock, up previously from $645.00. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $668.80.
Shares of Google (NASDAQ:GOOG) traded up 0.11% during mid-day trading on Wednesday, hitting $577.94. 1,211,507 shares of the company’s stock traded hands. Google has a 52-week low of $502.80 and a 52-week high of $604.83. The stock’s 50-day moving average is $578.7 and its 200-day moving average is $558.. The company has a market cap of $390.9 billion and a P/E ratio of 29.91.
Google (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 17th. The company reported $6.08 EPS for the quarter, missing the Thomson Reuters consensus estimate of $6.25 by $0.17. The company had revenue of $15.96 billion for the quarter, compared to the consensus estimate of $15.61 billion. During the same quarter in the prior year, the company posted $9.56 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis.
Google Inc (NASDAQ:GOOG), is a global technology company.
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