ORBCOMM Inc. (NASDAQ:ORBC) EVP John J. Stolte, Jr. sold 41,962 shares of ORBCOMM stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $11.28, for a total value of $473,331.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

ORBCOMM Inc. (NASDAQ:ORBC) traded down 3.71% during midday trading on Thursday, reaching $10.91. The company had a trading volume of 414,908 shares. The company’s market capitalization is $801.86 million. The firm has a 50-day moving average price of $11.38 and a 200-day moving average price of $9.95. ORBCOMM Inc. has a 52 week low of $7.15 and a 52 week high of $11.99.

ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.05. ORBCOMM had a negative return on equity of 6.16% and a negative net margin of 15.52%. The business had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $52.93 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The company’s quarterly revenue was up 13.8% on a year-over-year basis. Analysts expect that ORBCOMM Inc. will post ($0.36) EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the company. Gamco Investors INC. ET AL raised its stake in shares of ORBCOMM by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 56,323 shares of the technology company’s stock worth $538,000 after buying an additional 165 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of ORBCOMM by 3.9% in the first quarter. Principal Financial Group Inc. now owns 12,006 shares of the technology company’s stock worth $115,000 after buying an additional 447 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of ORBCOMM by 0.3% in the second quarter. TIAA CREF Investment Management LLC now owns 174,025 shares of the technology company’s stock worth $1,966,000 after buying an additional 550 shares during the last quarter. Paloma Partners Management Co raised its stake in shares of ORBCOMM by 3.3% in the first quarter. Paloma Partners Management Co now owns 19,881 shares of the technology company’s stock worth $190,000 after buying an additional 644 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of ORBCOMM by 4.4% in the second quarter. Legal & General Group Plc now owns 15,881 shares of the technology company’s stock worth $180,000 after buying an additional 670 shares during the last quarter. Institutional investors and hedge funds own 79.75% of the company’s stock.

ORBC has been the subject of several research analyst reports. Benchmark Co. initiated coverage on ORBCOMM in a research note on Tuesday, April 25th. They set a “buy” rating and a $13.00 price objective for the company. Craig Hallum set a $13.00 price objective on ORBCOMM and gave the company a “buy” rating in a research note on Tuesday, June 13th. Canaccord Genuity reissued a “buy” rating and set a $14.00 price objective on shares of ORBCOMM in a research note on Thursday, August 3rd. Zacks Investment Research raised ORBCOMM from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Friday, July 14th. Finally, ValuEngine raised ORBCOMM from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. ORBCOMM presently has a consensus rating of “Buy” and an average target price of $12.90.

ORBCOMM Company Profile

ORBCOMM Inc is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and Web reporting applications. The Company’s IoT products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters, in industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime and government.

Insider Buying and Selling by Quarter for ORBCOMM (NASDAQ:ORBC)

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