Jason Blessing Sells 12,525 Shares of Model N, Inc. (NYSE:MODN) Stock

Model N, Inc. (NYSE:MODN – Get Rating) CEO Jason Blessing sold 12,525 shares of Model N stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $28.63, for a total transaction of $358,590.75. Following the transaction, the chief executive officer now directly owns 683,799 shares of the company’s stock, valued at $19,577,165.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Model N Stock Down 0.5 %

Shares of NYSE MODN opened at $29.14 on Friday. The firm has a market capitalization of $1.11 billion, a PE ratio of -21.12 and a beta of 0.68. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 3.03. Model N, Inc. has a 1 year low of $20.95 and a 1 year high of $43.18. The firm’s 50-day moving average is $32.00 and its 200-day moving average is $36.18.

Analyst Ratings Changes

A number of research firms have recently issued reports on MODN. 1-800-FLOWERS.COM reiterated an “initiates” rating on shares of Model N in a research note on Thursday, April 27th. Truist Financial boosted their price objective on Model N from $45.00 to $52.00 in a research note on Wednesday, February 8th. Royal Bank of Canada started coverage on Model N in a research note on Thursday, April 27th. They issued a “sector perform” rating and a $35.00 target price for the company. Needham & Company LLC lifted their price target on Model N from $42.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Finally, StockNews.com initiated coverage on shares of Model N in a report on Thursday. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.38.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new position in shares of Model N in the 3rd quarter valued at about $29,000. Tower Research Capital LLC TRC boosted its stake in shares of Model N by 35.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,664 shares of the software maker’s stock valued at $57,000 after purchasing an additional 431 shares during the last quarter. Stephens Inc. AR bought a new position in shares of Model N in the 3rd quarter valued at about $69,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Model N by 94.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,420 shares of the software maker’s stock valued at $82,000 after purchasing an additional 1,174 shares during the last quarter. Finally, Almanack Investment Partners LLC. bought a new position in shares of Model N in the 3rd quarter valued at about $113,000. Institutional investors own 96.63% of the company’s stock.

About Model N

(Get Rating)

Model N, Inc engages in developing and monetizing revenue management solutions. It offers cloud revenue optimization and compliance to pharmaceutical, medical technology, semiconductor, and high-tech companies. Its products provide business processes such as pricing, quoting, contracting, regulatory compliance, rebates and incentives.