Insider Selling: Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sells $188,712.54 in Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sanjeev Aggarwal sold 35,142 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $5.37, for a total value of $188,712.54. Following the completion of the transaction, the chief executive officer now directly owns 654,828 shares of the company’s stock, valued at $3,516,426.36. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Everspin Technologies Price Performance

MRAM stock remained flat at $5.23 during trading on Tuesday. The company had a trading volume of 171,328 shares, compared to its average volume of 120,520. Everspin Technologies, Inc. has a 12 month low of $4.89 and a 12 month high of $8.66. The business’s fifty day moving average price is $6.01 and its 200-day moving average price is $6.01. The stock has a market cap of $115.80 million, a PE ratio of 87.17 and a beta of 0.79.

Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%. The firm had revenue of $13.20 million during the quarter, compared to analyst estimates of $12.50 million.

Institutional Investors Weigh In On Everspin Technologies

A number of hedge funds have recently modified their holdings of the business. Barclays PLC boosted its position in Everspin Technologies by 157.9% during the third quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock worth $310,000 after acquiring an additional 32,240 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Everspin Technologies in the 3rd quarter valued at approximately $82,000. Geode Capital Management LLC boosted its position in shares of Everspin Technologies by 0.5% during the third quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock worth $2,437,000 after buying an additional 1,941 shares during the period. JPMorgan Chase & Co. grew its position in Everspin Technologies by 49.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 58,668 shares of the business services provider’s stock valued at $346,000 after acquiring an additional 19,367 shares in the last quarter. Finally, State Street Corp lifted its holdings in Everspin Technologies by 1.5% during the 3rd quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock worth $1,294,000 after buying an additional 3,298 shares in the last quarter. 44.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Everspin Technologies from a “buy” rating to a “hold” rating in a research note on Friday, February 28th.

About Everspin Technologies

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.