Insider Selling: Tech Data Corp (TECD) CAO Sells $112,234.98 in Stock

Tech Data Corp (NASDAQ:TECD) CAO Michael Rabinovitch sold 1,133 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $99.06, for a total transaction of $112,234.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Tech Data stock traded up $1.03 during midday trading on Friday, reaching $102.97. 159,082 shares of the company’s stock traded hands, compared to its average volume of 422,234. The company has a market capitalization of $3.77 billion, a P/E ratio of 9.05, a P/E/G ratio of 3.95 and a beta of 0.96. Tech Data Corp has a 52 week low of $66.93 and a 52 week high of $108.29. The company has a current ratio of 1.24, a quick ratio of 0.86 and a debt-to-equity ratio of 0.44.

Tech Data (NASDAQ:TECD) last announced its earnings results on Thursday, March 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.03 by $0.52. The firm had revenue of $10.47 billion for the quarter, compared to the consensus estimate of $10.63 billion. Tech Data had a net margin of 0.91% and a return on equity of 15.17%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.50 EPS. On average, equities research analysts predict that Tech Data Corp will post 11.72 earnings per share for the current year.



TECD has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Tech Data from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a report on Monday, February 4th. BidaskClub upgraded shares of Tech Data from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 15th. ValuEngine upgraded shares of Tech Data from a “strong sell” rating to a “sell” rating in a report on Friday, November 16th. Needham & Company LLC raised their price target on shares of Tech Data to $110.00 and gave the company a “buy” rating in a report on Friday, November 30th. Finally, TheStreet upgraded shares of Tech Data from a “c+” rating to a “b-” rating in a report on Thursday, December 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $97.60.

A number of institutional investors and hedge funds have recently made changes to their positions in TECD. Norges Bank bought a new position in Tech Data in the 4th quarter worth $35,317,000. Prudential Financial Inc. raised its holdings in Tech Data by 89.4% in the 3rd quarter. Prudential Financial Inc. now owns 655,099 shares of the company’s stock worth $46,885,000 after acquiring an additional 309,142 shares during the period. Macquarie Group Ltd. raised its holdings in Tech Data by 23.2% in the 3rd quarter. Macquarie Group Ltd. now owns 909,739 shares of the company’s stock worth $65,110,000 after acquiring an additional 171,231 shares during the period. BlackRock Inc. raised its holdings in Tech Data by 3.8% in the 3rd quarter. BlackRock Inc. now owns 4,379,141 shares of the company’s stock worth $313,416,000 after acquiring an additional 159,706 shares during the period. Finally, Matarin Capital Management LLC bought a new position in Tech Data in the 3rd quarter worth $10,801,000. Hedge funds and other institutional investors own 97.09% of the company’s stock.

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About Tech Data

Tech Data Corporation engages in the wholesale distribution of technology products. It offers endpoint portfolio solutions, including PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics; and advanced portfolio solutions, such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.

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