Insider Selling: Model N, Inc. (NYSE:MODN) CFO Sells $347,310.07 in Stock

Model N, Inc. (NYSE:MODN – Get Rating) CFO John Ederer sold 10,823 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $32.09, for a total value of $347,310.07. Following the transaction, the chief financial officer now directly owns 166,878 shares of the company’s stock, valued at $5,355,115.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

John Ederer also recently made the following trade(s):

• On Thursday, February 16th, John Ederer sold 7,958 shares of Model N stock. The stock was sold at an average price of $35.04, for a total value of $278,848.32.

Model N Stock Down 1.4 %

NYSE MODN opened at $31.87 on Friday. The business has a fifty day moving average price of $36.96 and a 200 day moving average price of $36.49. Model N, Inc. has a one year low of $20.95 and a one year high of $43.18. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.85 and a current ratio of 2.85. The company has a market cap of $1.20 billion, a P/E ratio of -44.26 and a beta of 0.68.

Model N (NYSE:MODN – Get Rating) last posted its quarterly earnings data on Tuesday, February 7th. The software maker reported ($0.05) EPS for the quarter. The firm had revenue of $59.15 million during the quarter, compared to analyst estimates of $57.51 million. Model N had a negative net margin of 11.65% and a negative return on equity of 7.52%. Research analysts anticipate that Model N, Inc. will post 0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial upped their target price on Model N from $45.00 to $52.00 in a research note on Wednesday, February 8th. Needham & Company LLC upped their target price on Model N from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. StockNews.com raised Model N from a “hold” rating to a “buy” rating in a research note on Monday, March 13th. BTIG Research upped their target price on Model N from $42.00 to $48.00 in a research note on Wednesday, February 8th. Finally, Robert W. Baird increased their price objective on Model N to $44.00 in a research note on Wednesday, December 14th.

Institutional Trading of Model N

Large investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new stake in Model N in the 3rd quarter valued at $29,000. Tower Research Capital LLC TRC grew its holdings in Model N by 35.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,664 shares of the software maker’s stock valued at $57,000 after buying an additional 431 shares in the last quarter. Stephens Inc. AR purchased a new stake in Model N in the 3rd quarter valued at $69,000. Ensign Peak Advisors Inc grew its holdings in Model N by 761.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 2,240 shares of the software maker’s stock valued at $57,000 after buying an additional 1,980 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Model N by 94.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,420 shares of the software maker’s stock valued at $82,000 after buying an additional 1,174 shares in the last quarter. 96.63% of the stock is currently owned by hedge funds and other institutional investors.

Model N Company Profile

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Model N, Inc engages in developing and monetizing revenue management solutions. It offers cloud revenue optimization and compliance to pharmaceutical, medical technology, semiconductor, and high-tech companies. Its products provide business processes such as pricing, quoting, contracting, regulatory compliance, rebates and incentives.