Mulesoft (MULE) Trading Up 6.6%
Mulesoft Inc (NYSE:MULE) shares were up 6.6% during trading on Friday . The stock traded as high as $23.99 and last traded at $23.88. Approximately 3,066,573 shares changed hands during mid-day trading, an increase of 173% from the average daily volume of 1,122,610 shares. The stock had previously closed at $22.41.
Several research analysts recently commented on MULE shares. Canaccord Genuity upgraded Mulesoft from a “hold” rating to a “buy” rating and boosted their price target for the stock from $24.00 to $29.00 in a research note on Monday, October 23rd. Piper Jaffray Companies reiterated a “buy” rating on shares of Mulesoft in a research note on Tuesday, October 24th. Barclays boosted their price target on Mulesoft from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Zacks Investment Research cut Mulesoft from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. Finally, BidaskClub cut Mulesoft from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $28.20.
In other Mulesoft news, Director Mark C. Burton sold 6,573 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $23.01, for a total transaction of $151,244.73. Following the sale, the director now owns 6,573 shares in the company, valued at $151,244.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Simon Parmett sold 51,536 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $23.42, for a total value of $1,206,973.12. Following the sale, the insider now owns 9,917 shares in the company, valued at approximately $232,256.14. The disclosure for this sale can be found here. Insiders have sold 599,230 shares of company stock worth $13,818,868 in the last 90 days.
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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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