Mulesoft Inc. (MULE) Director Mark C. Burton Sells 6,573 Shares of Stock
Mulesoft Inc. (NYSE:MULE) Director Mark C. Burton sold 6,573 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $23.01, for a total transaction of $151,244.73. Following the completion of the transaction, the director now directly owns 6,573 shares of the company’s stock, valued at $151,244.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Mulesoft Inc. (MULE) traded up $0.16 during trading hours on Friday, hitting $22.49. 1,546,176 shares of the stock traded hands, compared to its average volume of 866,052. Mulesoft Inc. has a 12 month low of $19.40 and a 12 month high of $29.00.
Mulesoft (NYSE:MULE) last issued its quarterly earnings results on Thursday, October 26th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.04. Mulesoft had a negative net margin of 25.84% and a negative return on equity of 49.63%. The company had revenue of $77.60 million during the quarter, compared to analysts’ expectations of $71.52 million. The company’s quarterly revenue was up 57.1% on a year-over-year basis. research analysts expect that Mulesoft Inc. will post -0.64 earnings per share for the current year.
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A number of equities analysts have weighed in on the stock. BidaskClub downgraded shares of Mulesoft from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Zacks Investment Research downgraded shares of Mulesoft from a “hold” rating to a “sell” rating in a research note on Saturday, November 4th. Barclays PLC boosted their target price on shares of Mulesoft from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Mulesoft in a research note on Tuesday, October 24th. Finally, Canaccord Genuity raised shares of Mulesoft from a “hold” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $29.00 in a research note on Monday, October 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $27.29.
Large investors have recently modified their holdings of the company. Morgan Stanley acquired a new stake in shares of Mulesoft during the 1st quarter worth approximately $12,477,000. Lord Abbett & CO. LLC grew its holdings in Mulesoft by 53.6% during the second quarter. Lord Abbett & CO. LLC now owns 1,202,994 shares of the company’s stock valued at $30,003,000 after purchasing an additional 420,025 shares during the period. California Public Employees Retirement System acquired a new position in Mulesoft during the first quarter valued at approximately $243,000. Cipher Capital LP acquired a new position in Mulesoft during the second quarter valued at approximately $693,000. Finally, JPMorgan Chase & Co. grew its holdings in Mulesoft by 62.2% during the second quarter. JPMorgan Chase & Co. now owns 1,214,225 shares of the company’s stock valued at $30,283,000 after purchasing an additional 465,595 shares during the period. Institutional investors own 13.75% of the company’s stock.
MuleSoft, Inc is engaged in providing a software platform that connects a range of technologies. The Company enables organizations to manage and secure the flow of data between all systems in the enterprise. The Company offers organizations to create agile infrastructures. The Company has developed Anypoint Platform.
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