Brokerages Set Cantaloupe, Inc. (NASDAQ:CTLP) Target Price at $12.73

Cantaloupe, Inc. (NASDAQ:CTLP) has been given a consensus recommendation of “Reduce” by the eight analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.7333.

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of Cantaloupe from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cantaloupe in a report on Wednesday, November 19th.

Cantaloupe Price Performance

CTLP opened at $10.59 on Friday. The stock has a fifty day moving average price of $10.60 and a 200 day moving average price of $10.41. The company has a current ratio of 1.86, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. Cantaloupe has a 1 year low of $7.01 and a 1 year high of $11.36. The stock has a market cap of $780.45 million, a price-to-earnings ratio of 13.41 and a beta of 1.07.

Insider Buying and Selling at Cantaloupe

In related news, CFO Scott Matthew Stewart sold 62,830 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $10.63, for a total transaction of $667,882.90. Following the completion of the transaction, the chief financial officer owned 53,009 shares in the company, valued at $563,485.67. This trade represents a 54.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Gaurav Singal sold 14,544 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $10.61, for a total transaction of $154,311.84. Following the transaction, the chief technology officer owned 25,989 shares in the company, valued at approximately $275,743.29. This trade represents a 35.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 277,374 shares of company stock worth $2,948,195 in the last three months. Insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Cantaloupe

A number of institutional investors have recently made changes to their positions in the stock. Magnetar Financial LLC increased its holdings in shares of Cantaloupe by 10,162.7% in the second quarter. Magnetar Financial LLC now owns 3,257,595 shares of the technology company’s stock worth $35,801,000 after acquiring an additional 3,225,853 shares in the last quarter. Beryl Capital Management LLC bought a new stake in Cantaloupe during the second quarter worth about $27,709,000. Alliancebernstein L.P. boosted its holdings in shares of Cantaloupe by 3,808.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,740,226 shares of the technology company’s stock valued at $19,125,000 after buying an additional 1,695,696 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Cantaloupe by 346.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,936,945 shares of the technology company’s stock valued at $20,474,000 after acquiring an additional 1,503,453 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its holdings in Cantaloupe by 60.1% during the second quarter. Disciplined Growth Investors Inc. MN now owns 3,173,351 shares of the technology company’s stock worth $34,875,000 after purchasing an additional 1,191,748 shares during the period. 75.75% of the stock is owned by institutional investors and hedge funds.

Cantaloupe Company Profile

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for self-service commerce market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides G11 cashless and pulse kits that are 4G LTE digital payment devices for payment and consumer engagement applications; G11 chip kit, a digital reader that accepts contact EMV and contactless EMV payment methods; Engage series comprising Engage and Engage Combo, which are digital touchscreen devices that offers networking, security, and interactivity payment methods; and card touchscreen card readers, including P66, P100, P100Pro, and P30.