Mulesoft (MULE) Shares Gap Down After Insider Selling
Mulesoft Inc (NYSE:MULE)’s share price gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $25.69, but opened at $24.92. Mulesoft shares last traded at $24.23, with a volume of 2741600 shares.
Specifically, Director Gary Little sold 21,826 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $24.21, for a total transaction of $528,407.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Winblad Venture Partner Hummer sold 65,872 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $23.52, for a total value of $1,549,309.44. The disclosure for this sale can be found here. Insiders have sold a total of 821,313 shares of company stock worth $18,974,208 in the last three months.
MULE has been the topic of a number of recent research reports. Goldman Sachs Group raised Mulesoft from a “neutral” rating to a “buy” rating and raised their price objective for the company from $24.00 to $26.00 in a research report on Monday, October 9th. Zacks Investment Research downgraded Mulesoft from a “hold” rating to a “sell” rating in a research report on Saturday, November 4th. Canaccord Genuity raised Mulesoft from a “hold” rating to a “buy” rating and raised their price objective for the company from $24.00 to $29.00 in a research report on Monday, October 23rd. BidaskClub downgraded Mulesoft from a “hold” rating to a “sell” rating in a research report on Saturday, September 23rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Mulesoft in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.00.
The stock has a market cap of $3,210.00 and a price-to-earnings ratio of -34.29.
Mulesoft (NYSE:MULE) last issued its quarterly earnings results on Thursday, October 26th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04. The business had revenue of $77.60 million during the quarter, compared to the consensus estimate of $71.52 million. Mulesoft had a negative return on equity of 49.63% and a negative net margin of 25.84%. The business’s quarterly revenue was up 57.1% on a year-over-year basis. equities analysts predict that Mulesoft Inc will post -0.64 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sylebra HK Co Ltd boosted its holdings in Mulesoft by 151.2% in the third quarter. Sylebra HK Co Ltd now owns 1,107,129 shares of the company’s stock worth $22,298,000 after acquiring an additional 666,386 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in Mulesoft in the third quarter worth about $1,963,000. Janus Henderson Group PLC boosted its holdings in Mulesoft by 73.3% in the third quarter. Janus Henderson Group PLC now owns 297,541 shares of the company’s stock worth $5,992,000 after acquiring an additional 125,889 shares in the last quarter. Jane Street Group LLC boosted its holdings in Mulesoft by 38.4% in the third quarter. Jane Street Group LLC now owns 37,790 shares of the company’s stock worth $761,000 after acquiring an additional 10,490 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Mulesoft in the third quarter worth about $1,634,000. 23.19% of the stock is owned by institutional investors and hedge funds.
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Mulesoft Company Profile
MuleSoft, Inc is engaged in providing a software platform that connects a range of technologies. The Company enables organizations to manage and secure the flow of data between all systems in the enterprise. The Company offers organizations to create agile infrastructures. The Company has developed Anypoint Platform.
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