Model N Inc. (MODN) SVP Christopher Larsen Sells 8,523 Shares
Model N Inc. (NYSE:MODN) SVP Christopher Larsen sold 8,523 shares of the business’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $8.53, for a total value of $72,701.19. Following the completion of the sale, the senior vice president now directly owns 160,995 shares in the company, valued at $1,373,287.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Model N Inc. (NYSE:MODN) traded down 3.37% on Monday, hitting $8.60. The stock had a trading volume of 37,004 shares. The company’s 50 day moving average price is $9.80 and its 200-day moving average price is $11.41. The company’s market cap is $238.79 million. Model N Inc. has a 12 month low of $6.98 and a 12 month high of $13.98.
Model N (NYSE:MODN) last released its quarterly earnings data on Monday, November 7th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $28.50 million for the quarter, compared to the consensus estimate of $27.73 million. Model N had a negative return on equity of 41.74% and a negative net margin of 30.95%. Model N’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted ($0.07) EPS. On average, analysts expect that Model N Inc. will post ($0.72) earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. increased its position in Model N by 5.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 257,680 shares of the company’s stock valued at $3,440,000 after buying an additional 12,422 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Model N by 5.5% in the second quarter. BlackRock Fund Advisors now owns 577,240 shares of the company’s stock worth $7,706,000 after buying an additional 30,101 shares in the last quarter. BlackRock Investment Management LLC increased its position in shares of Model N by 17.8% in the second quarter. BlackRock Investment Management LLC now owns 87,531 shares of the company’s stock worth $1,169,000 after buying an additional 13,241 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of Model N by 1.4% in the second quarter. BlackRock Advisors LLC now owns 10,930 shares of the company’s stock worth $146,000 after buying an additional 148 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Model N by 1.2% in the second quarter. Vanguard Group Inc. now owns 843,969 shares of the company’s stock worth $11,267,000 after buying an additional 10,276 shares in the last quarter. Institutional investors own 68.63% of the company’s stock.
A number of research analysts have recently issued reports on the company. JMP Securities reaffirmed a “hold” rating on shares of Model N in a report on Wednesday, November 16th. Zacks Investment Research raised Model N from a “sell” rating to a “hold” rating in a report on Wednesday, October 12th. JPMorgan Chase & Co. raised Model N from a “neutral” rating to an “overweight” rating and set a $12.00 price target on the stock in a report on Friday, November 11th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $16.00 price target (down from $18.00) on shares of Model N in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $14.20.
Model N Company Profile
Model N, Inc is a provider of revenue management cloud solutions for life science and technology companies. The Company’s solutions enable its customers to manage revenue compliance risk. The Company’s solutions include Revenue Enterprise Cloud, Revenue Intelligence Cloud and Revvy. The Company provides solutions that span the organizational and operational boundaries of functions, such as sales, marketing and finance, and serve as a system of record for revenue management processes, including pricing, contracts, rebates, incentives and regulatory compliance.
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