Xactly Corporation (XTLY) Stock Price Down 4.9% on Insider Selling
Xactly Corporation (NASDAQ:XTLY) shares were down 4.9% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $13.59 and last traded at $13.62, with a volume of 254,402 shares trading hands. The stock had previously closed at $14.32.
Specifically, CEO Christopher Cabrera sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $15.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief executive officer now directly owns 126,500 shares in the company, valued at $1,897,500. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carol Mills sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $12.10, for a total transaction of $302,500.00. Following the sale, the director now owns 34,364 shares of the company’s stock, valued at $415,804.40. The disclosure for this sale can be found here.
Several equities research analysts recently issued reports on XTLY shares. National Securities started coverage on shares of Xactly Corporation in a research report on Tuesday, August 2nd. They set a “buy” rating and a $17.00 price objective for the company. Zacks Investment Research cut shares of Xactly Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Dougherty & Co restated a “buy” rating and set a $20.00 price objective on shares of Xactly Corporation in a research report on Tuesday, September 6th. Oppenheimer Holdings Inc. raised their price objective on shares of Xactly Corporation from $13.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 7th. Finally, Needham & Company LLC raised their price objective on shares of Xactly Corporation from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. Eight investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $17.57.
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The company’s market capitalization is $417.89 million. The firm’s 50 day moving average price is $14.26 and its 200 day moving average price is $11.43.
Xactly Corporation (NASDAQ:XTLY) last posted its quarterly earnings data on Thursday, September 8th. The company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.06. The company had revenue of $24 million for the quarter, compared to analyst estimates of $23.37 million. The firm’s quarterly revenue was up 31.1% on a year-over-year basis. On average, equities analysts anticipate that Xactly Corporation will post ($0.43) EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Edge Wealth Management LLC increased its position in Xactly Corporation by 36.5% in the second quarter. Edge Wealth Management LLC now owns 19,650 shares of the company’s stock worth $248,000 after buying an additional 5,250 shares in the last quarter. Strs Ohio increased its position in Xactly Corporation by 1,920.0% in the second quarter. Strs Ohio now owns 50,500 shares of the company’s stock worth $646,000 after buying an additional 48,000 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Xactly Corporation during the second quarter worth approximately $1,112,000. Emerald Mutual Fund Advisers Trust bought a new position in Xactly Corporation during the second quarter worth approximately $2,889,000. Finally, Emerald Advisers Inc. PA bought a new position in Xactly Corporation during the second quarter worth approximately $3,039,000.
About Xactly Corporation
Xactly Corporation is a provider of cloud-based incentive compensation solutions for employee and sales performance management. The Company delivers its solutions through a software-as-a-service (SaaS) business model. The Company has a customer base, including companies in various industries, such as business and financial services, communications, life sciences, media and Internet, SaaS and traditional software, and retail.
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