Wells Fargo & Company MN Sells 165,402 Shares of Groupon Inc (GRPN)
Wells Fargo & Company MN trimmed its holdings in shares of Groupon Inc (NASDAQ:GRPN) by 26.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 466,524 shares of the coupon company’s stock after selling 165,402 shares during the period. Wells Fargo & Company MN’s holdings in Groupon were worth $2,426,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Pictet Asset Management Ltd. purchased a new position in Groupon in the 3rd quarter worth approximately $37,704,000. SG Capital Management LLC purchased a new position in Groupon in the 3rd quarter worth approximately $16,741,000. State Street Corp raised its holdings in Groupon by 38.2% in the 2nd quarter. State Street Corp now owns 8,827,043 shares of the coupon company’s stock worth $33,898,000 after acquiring an additional 2,440,783 shares during the last quarter. Vanguard Group Inc. raised its holdings in Groupon by 8.1% in the 2nd quarter. Vanguard Group Inc. now owns 32,453,440 shares of the coupon company’s stock worth $124,620,000 after acquiring an additional 2,430,907 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD raised its holdings in Groupon by 40.2% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,451,180 shares of the coupon company’s stock worth $43,946,000 after acquiring an additional 2,421,825 shares during the last quarter. Hedge funds and other institutional investors own 60.01% of the company’s stock.
In other news, CAO Brian Stevens sold 20,000 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $5.71, for a total transaction of $114,200.00. Following the completion of the sale, the chief accounting officer now owns 222,354 shares of the company’s stock, valued at approximately $1,269,641.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eric P. Lefkofsky sold 1,500,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $5.77, for a total transaction of $8,655,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,545,000 shares of company stock valued at $8,901,450. 23.40% of the stock is currently owned by insiders.
Shares of Groupon Inc (GRPN) opened at $5.11 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.86 and a quick ratio of 0.86. Groupon Inc has a 1 year low of $2.90 and a 1 year high of $5.99. The company has a market cap of $2,853.44, a P/E ratio of -34.06, a price-to-earnings-growth ratio of 26.89 and a beta of 1.57.
Groupon (NASDAQ:GRPN) last posted its earnings results on Wednesday, November 1st. The coupon company reported $0.01 EPS for the quarter. Groupon had a negative net margin of 2.97% and a negative return on equity of 1.47%. The business had revenue of $634.46 million during the quarter, compared to the consensus estimate of $642.62 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The firm’s revenue was down 7.6% on a year-over-year basis. equities analysts expect that Groupon Inc will post -0.02 earnings per share for the current year.
A number of brokerages recently weighed in on GRPN. Zacks Investment Research lowered shares of Groupon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Vetr upgraded shares of Groupon from a “hold” rating to a “strong-buy” rating and set a $6.58 price objective for the company in a report on Monday, September 25th. Piper Jaffray Companies restated a “buy” rating and issued a $5.50 price objective on shares of Groupon in a report on Thursday, September 21st. Cowen upgraded shares of Groupon from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $2.90 to $5.38 in a report on Monday, October 16th. Finally, Gabelli began coverage on shares of Groupon in a report on Tuesday, October 17th. They issued a “buy” rating and a $7.00 price objective for the company. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.02.
Groupon, Inc operates online local commerce marketplaces around the world that connect merchants to consumers by offering goods and services at a discount. The Company operates through three segments: North America, which represents the United States and Canada; EMEA, which consists of Europe, and the Middle East and Africa, and the remainder of its international operations (Rest of World).
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