SharpSpring Inc (NASDAQ:SHSP) shares traded down 14% on Wednesday after Roth Capital lowered their price target on the stock from $21.00 to $19.00. Roth Capital currently has a buy rating on the stock. SharpSpring traded as low as $9.44 and last traded at $10.24, 668,369 shares changed hands during trading. An increase of 611% from the average session volume of 93,945 shares. The stock had previously closed at $11.91.

Other equities analysts have also issued reports about the stock. National Securities began coverage on shares of SharpSpring in a research report on Thursday, May 30th. They set a “buy” rating on the stock. Canaccord Genuity downgraded shares of Carmanah Technologies from a “buy” rating to a “hold” rating and set a C$7.50 target price on the stock. in a research note on Monday, April 1st. Finally, Craig Hallum reaffirmed a “buy” rating and set a $40.00 target price (down from $45.00) on shares of GTT Communications in a research note on Monday, June 24th. Six analysts have rated the stock with a buy rating, SharpSpring presently has an average rating of “Buy” and an average price target of $19.00.

In other news, Director Daniel Allen sold 1,763,454 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $12.25, for a total value of $21,602,311.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Travis Whitton sold 21,079 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $14.95, for a total transaction of $315,131.05. The disclosure for this sale can be found here. Insiders have sold 2,106,027 shares of company stock worth $25,930,744 over the last ninety days. 25.55% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Centaurus Financial Inc. purchased a new stake in shares of SharpSpring in the 1st quarter valued at approximately $107,000. Advisor Group Inc. increased its stake in SharpSpring by 52.2% during the 4th quarter. Advisor Group Inc. now owns 12,176 shares of the technology company’s stock worth $154,000 after buying an additional 4,176 shares during the period. Northern Trust Corp increased its stake in SharpSpring by 17.7% during the 4th quarter. Northern Trust Corp now owns 13,339 shares of the technology company’s stock worth $168,000 after buying an additional 2,004 shares during the period. Geode Capital Management LLC increased its stake in SharpSpring by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 16,691 shares of the technology company’s stock worth $212,000 after buying an additional 742 shares during the period. Finally, Spark Investment Management LLC increased its stake in SharpSpring by 5.8% during the 1st quarter. Spark Investment Management LLC now owns 43,100 shares of the technology company’s stock worth $690,000 after buying an additional 2,345 shares during the period. 41.54% of the stock is currently owned by institutional investors and hedge funds.

The business has a 50 day moving average of $13.27. The firm has a market capitalization of $111.90 million, a PE ratio of -9.23 and a beta of 1.13. The company has a quick ratio of 7.30, a current ratio of 7.30 and a debt-to-equity ratio of 0.65.

SharpSpring (NASDAQ:SHSP) last announced its earnings results on Thursday, May 9th. The technology company reported ($0.33) earnings per share for the quarter. SharpSpring had a negative return on equity of 63.38% and a negative net margin of 52.14%. The business had revenue of $5.33 million for the quarter. As a group, analysts predict that SharpSpring Inc will post -0.97 EPS for the current fiscal year.

About SharpSpring (NASDAQ:SHSP)

SharpSpring, Inc operates as a cloud-based marketing technology company worldwide. The company offers SharpSpring, a marketing automation solution for small and mid-size businesses. It markets and sells its products and services through sales teams and third party resellers. The company was formerly known as SMTP, Inc and changed its name to SharpSpring, Inc in December 2015.

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