Insider Buying: iPass Inc. (IPAS) CEO Buys $15,200.00 in Stock
iPass Inc. (NASDAQ:IPAS) CEO Gary A. Griffiths bought 10,000 shares of the stock in a transaction dated Wednesday, November 9th. The shares were purchased at an average cost of $1.52 per share, for a total transaction of $15,200.00. Following the completion of the transaction, the chief executive officer now directly owns 795,000 shares of the company’s stock, valued at $1,208,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Gary A. Griffiths also recently made the following trade(s):
- On Tuesday, November 8th, Gary A. Griffiths bought 40,000 shares of iPass stock. The shares were purchased at an average cost of $1.53 per share, for a total transaction of $61,200.00.
Shares of iPass Inc. (NASDAQ:IPAS) opened at 1.65 on Monday. iPass Inc. has a 52-week low of $0.81 and a 52-week high of $1.89. The stock’s market capitalization is $109.06 million. The company has a 50-day moving average price of $1.66 and a 200-day moving average price of $1.43.
iPass (NASDAQ:IPAS) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). iPass had a negative return on equity of 43.36% and a negative net margin of 13.91%. The business had revenue of $15.90 million for the quarter, compared to analyst estimates of $16.03 million. On average, equities analysts anticipate that iPass Inc. will post ($0.12) earnings per share for the current year.
IPAS has been the topic of a number of research reports. Chardan Capital raised iPass from a “neutral” rating to a “buy” rating and set a $2.00 target price on the stock in a research report on Thursday, August 4th. Maxim Group initiated coverage on iPass in a research report on Wednesday, October 19th. They set a “buy” rating and a $3.00 target price on the stock.
A number of institutional investors have recently bought and sold shares of IPAS. BlackRock Fund Advisors raised its position in iPass by 14.1% in the second quarter. BlackRock Fund Advisors now owns 177,690 shares of the company’s stock valued at $220,000 after buying an additional 21,972 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of iPass by 1.3% in the second quarter. Vanguard Group Inc. now owns 2,180,536 shares of the company’s stock worth $2,704,000 after buying an additional 28,600 shares in the last quarter. Finally, Adirondack Research & Management Inc. raised its stake in shares of iPass by 1.5% in the second quarter. Adirondack Research & Management Inc. now owns 3,002,930 shares of the company’s stock worth $3,724,000 after buying an additional 45,476 shares in the last quarter. Institutional investors and hedge funds own 29.94% of the company’s stock.
iPass Inc (iPass), is a provider of global mobile connectivity, offering wireless fidelity (Wi-Fi) on mobile devices. The Company, through its Mobile Connectivity Services segment, offers a cloud-based solution allowing its customers and their users’ access to its global Wi-Fi network to stay connected to the people and information.
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