David Barter Sells 1,332 Shares of Model N Inc (NYSE:MODN) Stock

Model N Inc (NYSE:MODN) CFO David Barter sold 1,332 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $29.66, for a total transaction of $39,507.12. Following the completion of the sale, the chief financial officer now owns 216,309 shares in the company, valued at $6,415,724.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

David Barter also recently made the following trade(s):

  • On Monday, November 18th, David Barter sold 3,965 shares of Model N stock. The shares were sold at an average price of $30.15, for a total transaction of $119,544.75.

NYSE MODN traded down $0.44 during trading on Monday, hitting $29.98. The stock had a trading volume of 244,523 shares, compared to its average volume of 250,681. The company has a market capitalization of $1.00 billion, a PE ratio of -69.72 and a beta of 0.51. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.75. The firm has a 50 day moving average price of $29.57 and a 200 day moving average price of $24.80. Model N Inc has a twelve month low of $12.98 and a twelve month high of $32.00.

Model N (NYSE:MODN) last released its earnings results on Tuesday, November 5th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.15. The company had revenue of $36.60 million during the quarter, compared to the consensus estimate of $35.72 million. Model N had a negative return on equity of 29.48% and a negative net margin of 13.66%. Model N’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 EPS. On average, sell-side analysts anticipate that Model N Inc will post -0.41 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY grew its position in shares of Model N by 33.5% during the third quarter. Metropolitan Life Insurance Co NY now owns 10,739 shares of the software maker’s stock worth $298,000 after buying an additional 2,694 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Model N during the third quarter worth about $8,710,000. Squarepoint Ops LLC grew its position in shares of Model N by 52.5% during the third quarter. Squarepoint Ops LLC now owns 59,225 shares of the software maker’s stock worth $1,644,000 after buying an additional 20,389 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Model N during the third quarter worth about $344,000. Finally, Castleark Management LLC acquired a new position in shares of Model N during the third quarter worth about $3,909,000. 85.00% of the stock is owned by institutional investors and hedge funds.

MODN has been the topic of several research analyst reports. Dougherty & Co boosted their price objective on shares of Model N from $26.00 to $32.00 and gave the company a “buy” rating in a report on Monday, September 23rd. ValuEngine lowered shares of Model N from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JMP Securities boosted their price objective on shares of Model N to $29.00 and gave the company a “positive” rating in a report on Wednesday, August 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. boosted their price objective on shares of Model N from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $34.00 price objective on shares of Model N in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $26.00.

About Model N

Model N, Inc provides revenue management cloud solutions for the life sciences and technology companies. The company's cloud-based revenue management solutions include Revenue Cloud for Pharma, Revenue Cloud for Med Tech, and Revenue Cloud for Semiconductors and High Tech Manufacturing. It develops software applications, such as managed care and government pricing for life science companies; and channel incentives for technology companies.

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