Insider Selling: Velodyne Lidar, Inc. (NASDAQ:VLDR) CTO Sells 17,179 Shares of Stock
Velodyne Lidar, Inc. (NASDAQ:VLDR – Get Rating) CTO Mathew Rekow sold 17,179 shares of the company’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $1.58, for a total transaction of $27,142.82. Following the sale, the chief technology officer now owns 1,063,237 shares of the company’s stock, valued at $1,679,914.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Mathew Rekow also recently made the following trade(s):
- On Thursday, May 12th, Mathew Rekow sold 2,607 shares of Velodyne Lidar stock. The shares were sold at an average price of $1.46, for a total transaction of $3,806.22.
- On Thursday, April 14th, Mathew Rekow sold 1,667 shares of Velodyne Lidar stock. The shares were sold at an average price of $2.13, for a total transaction of $3,550.71.
NASDAQ:VLDR traded down $0.05 during mid-day trading on Friday, hitting $1.43. The company’s stock had a trading volume of 2,167,681 shares, compared to its average volume of 5,473,407. The company has a market capitalization of $297.38 million, a price-to-earnings ratio of -1.30 and a beta of 1.02. The stock has a fifty day moving average of $1.88 and a 200-day moving average of $3.25. Velodyne Lidar, Inc. has a fifty-two week low of $1.42 and a fifty-two week high of $11.91.
Velodyne Lidar (NASDAQ:VLDR – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $6.20 million for the quarter, compared to analyst estimates of $10.10 million. Velodyne Lidar had a negative return on equity of 73.29% and a negative net margin of 440.65%. The business’s quarterly revenue was down 65.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) EPS. Sell-side analysts expect that Velodyne Lidar, Inc. will post -1.08 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. bought a new stake in shares of Velodyne Lidar during the second quarter valued at approximately $293,000. Morgan Stanley grew its stake in shares of Velodyne Lidar by 4.5% during the second quarter. Morgan Stanley now owns 417,075 shares of the company’s stock valued at $4,438,000 after purchasing an additional 17,904 shares during the last quarter. BlackRock Inc. grew its stake in shares of Velodyne Lidar by 9.5% during the third quarter. BlackRock Inc. now owns 4,769,333 shares of the company’s stock valued at $28,235,000 after purchasing an additional 411,892 shares during the last quarter. Citigroup Inc. grew its stake in shares of Velodyne Lidar by 23.8% during the third quarter. Citigroup Inc. now owns 32,552 shares of the company’s stock valued at $192,000 after purchasing an additional 6,261 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Velodyne Lidar by 146.8% during the third quarter. Goldman Sachs Group Inc. now owns 300,877 shares of the company’s stock valued at $1,781,000 after purchasing an additional 178,971 shares during the last quarter. 29.17% of the stock is owned by institutional investors.
VLDR has been the subject of several research reports. Citigroup reduced their target price on shares of Velodyne Lidar from $3.50 to $2.00 and set a “na” rating for the company in a research note on Monday, May 16th. Craig Hallum cut shares of Velodyne Lidar from a “hold” rating to a “sell” rating and reduced their target price for the company from $3.50 to $2.50 in a research note on Tuesday, March 1st. Needham & Company LLC reduced their target price on shares of Velodyne Lidar from $7.50 to $5.90 and set a “buy” rating for the company in a research note on Tuesday, March 1st. Finally, Zacks Investment Research upgraded shares of Velodyne Lidar from a “sell” rating to a “hold” rating in a research note on Wednesday, May 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.57.
About Velodyne Lidar (Get Rating)
Velodyne Lidar, Inc provides real-time 3D vision for autonomous systems worldwide. It offers surround-view lidar for autonomous vehicles, drones, security, mobile robots, and mapping applications; and solid state lidar for advanced driver assistance systems and autonomous applications. The company also provides Vella Development Kit that provides access to lidar-based perception software paired with sensors; Intelligent Infrastructure Solution for monitoring traffic networks and public spaces to generate real-time data analytics and predictions for enhancing traffic and crowd flow efficiency; and Vella software solution, a data curation software platform.
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