National Instruments (NATI) Hits New 1-Year Low Following Insider Selling
National Instruments Corp (NASDAQ:NATI) shares reached a new 52-week low on Monday after an insider sold shares in the company. The stock traded as low as $39.55 and last traded at $39.55, with a volume of 471 shares. The stock had previously closed at $40.20.
Specifically, Director Jeffrey L. Kodosky sold 2,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $47.55, for a total value of $95,100.00. Following the completion of the transaction, the director now owns 353,086 shares in the company, valued at $16,789,239.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Scott Arthur Rust sold 3,027 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $40.88, for a total value of $123,743.76. Following the completion of the transaction, the insider now owns 40,659 shares of the company’s stock, valued at approximately $1,662,139.92. The disclosure for this sale can be found here. In the last three months, insiders sold 23,027 shares of company stock valued at $1,025,654. 1.79% of the stock is owned by corporate insiders.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded National Instruments from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. ValuEngine cut National Instruments from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Deutsche Bank cut National Instruments from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, BidaskClub cut National Instruments from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 9th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. National Instruments has an average rating of “Hold” and a consensus target price of $48.50.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Friday, May 10th. National Instruments’s dividend payout ratio is presently 74.63%.
A number of institutional investors have recently bought and sold shares of the stock. BlueMountain Capital Management LLC increased its position in National Instruments by 21.1% during the 1st quarter. BlueMountain Capital Management LLC now owns 184,492 shares of the technology company’s stock worth $8,184,000 after purchasing an additional 32,128 shares in the last quarter. HighTower Advisors LLC increased its position in National Instruments by 7.3% during the 1st quarter. HighTower Advisors LLC now owns 9,191 shares of the technology company’s stock worth $407,000 after purchasing an additional 628 shares in the last quarter. One Wealth Advisors LLC purchased a new stake in National Instruments during the 1st quarter worth about $78,000. Morgan Stanley increased its position in National Instruments by 161.2% during the 1st quarter. Morgan Stanley now owns 283,703 shares of the technology company’s stock worth $12,585,000 after purchasing an additional 175,100 shares in the last quarter. Finally, Praesidium Investment Management Company LLC increased its position in National Instruments by 1.8% during the 1st quarter. Praesidium Investment Management Company LLC now owns 1,165,678 shares of the technology company’s stock worth $51,709,000 after purchasing an additional 21,093 shares in the last quarter. Hedge funds and other institutional investors own 78.49% of the company’s stock.
National Instruments Company Profile (NASDAQ:NATI)
National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes LabVIEW, a graphical application software package to visualize hardware configuration, measurement data, and debugging of application; LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox with built-in libraries for measurement, analysis, and engineering UI design; and NI Measurement Studio, a suite of .NET tools designed for building engineering applications in Microsoft Visual Studio to acquire, analyze, and display measurement data.
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