Renren Inc. (NYSE:RENN – Get Rating) major shareholder Group Corp. Softbank sold 152,870,520 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $0.03, for a total transaction of $4,586,115.60. Following the transaction, the insider now directly owns 117,388,451 shares in the company, valued at $3,521,653.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Renren Price Performance
Renren stock opened at $0.95 on Friday. Renren Inc. has a 52 week low of $0.91 and a 52 week high of $33.91. The stock has a fifty day moving average of $1.22 and a 200-day moving average of $8.70.
Wall Street Analysts Forecast Growth
Separately, StockNews.com initiated coverage on shares of Renren in a report on Sunday, May 21st. They set a “hold” rating for the company.
Institutional Inflows and Outflows
Renren, Inc engages in the Software as a Service (SaaS) business, which includes an all-in-one real estate solution provider and a large community for the trucking industry in the United States. The company was founded by Chen Yi Zhou in November 2002 and is headquartered in Phoenix, AZ.
- Get a free copy of the StockNews.com research report on Renren (RENN)
- 3 Electrical Gear Makers: Hidden Gems Amid Growing Digitization
- Can ULTA’s Defensive Product Line Stand Against This Down Cycle
- A Reversal Is Brewing For Medtronic: Buying The Dip
- Ralph Lauren’s Styled Dividend Is Still In Season
- Dollar Tree Falls As Theft Cuts Into Bottom Line
Receive News & Ratings for Renren Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renren and related companies with MarketBeat.com's FREE daily email newsletter.