Insider Selling: Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sells 16,845 Shares of Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sanjeev Aggarwal sold 16,845 shares of Everspin Technologies stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $5.00, for a total transaction of $84,225.00. Following the transaction, the chief executive officer now owns 637,983 shares in the company, valued at $3,189,915. This represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sanjeev Aggarwal also recently made the following trade(s):

• On Friday, March 7th, Sanjeev Aggarwal sold 35,142 shares of Everspin Technologies stock. The stock was sold at an average price of $5.37, for a total value of $188,712.54.

Everspin Technologies Price Performance

Shares of NASDAQ:MRAM opened at $4.56 on Friday. The company has a market capitalization of $100.96 million, a P/E ratio of 76.00 and a beta of 0.79. Everspin Technologies, Inc. has a 1-year low of $4.48 and a 1-year high of $8.06. The firm’s 50 day simple moving average is $5.53 and its two-hundred day simple moving average is $5.96.

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

Institutional Trading of Everspin Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Herald Investment Management Ltd boosted its stake in Everspin Technologies by 20.0% in the 4th quarter. Herald Investment Management Ltd now owns 600,000 shares of the business services provider’s stock worth $3,822,000 after purchasing an additional 100,000 shares during the period. Bailard Inc. bought a new position in shares of Everspin Technologies during the fourth quarter worth $292,000. Barclays PLC grew its stake in Everspin Technologies by 157.9% during the third quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock valued at $310,000 after acquiring an additional 32,240 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new stake in Everspin Technologies in the 4th quarter valued at $162,000. Finally, JPMorgan Chase & Co. lifted its stake 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 worth $346,000 after purchasing an additional 19,367 shares in the last quarter. Institutional investors own 44.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 28th.

Everspin Technologies Company Profile

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.