Insider Selling: Tech Data Corp. (TECD) Insider Sells $217,597.80 in Stock
Tech Data Corp. (NASDAQ:TECD) insider John A. Tonnison sold 2,515 shares of the firm’s stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $86.52, for a total transaction of $217,597.80. Following the completion of the sale, the insider now owns 27,484 shares of the company’s stock, valued at approximately $2,377,915.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Tech Data Corp. (NASDAQ:TECD) opened at 84.87 on Thursday. The stock’s 50 day moving average is $80.22 and its 200-day moving average is $77.73. Tech Data Corp. has a 52 week low of $57.99 and a 52 week high of $89.36. The stock has a market capitalization of $2.99 billion, a PE ratio of 14.11 and a beta of 0.87.
Tech Data Corp. (NASDAQ:TECD) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.18. Tech Data Corp. had a net margin of 0.81% and a return on equity of 10.51%. The business earned $6.49 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts forecast that Tech Data Corp. will post $5.95 EPS for the current year.
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A number of equities research analysts recently commented on TECD shares. Bank of America Corp. upgraded shares of Tech Data Corp. from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Tuesday, September 20th. Zacks Investment Research upgraded shares of Tech Data Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 15th. upgraded shares of Tech Data Corp. from an “underperform” rating to a “buy” rating and raised their price objective for the company from $76.00 to $102.00 in a research report on Tuesday, September 20th. Brean Capital restated a “buy” rating and issued a $82.00 price objective on shares of Tech Data Corp. in a research report on Friday, August 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tech Data Corp. in a research report on Friday, August 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $94.67.
Several large investors have recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Tech Data Corp. by 14.4% in the second quarter. FMR LLC now owns 4,077,520 shares of the company’s stock worth $292,970,000 after buying an additional 511,893 shares in the last quarter. Vanguard Group Inc. raised its position in Tech Data Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 3,525,069 shares of the company’s stock worth $253,276,000 after buying an additional 332,980 shares during the last quarter. BlackRock Fund Advisors raised its position in Tech Data Corp. by 6.2% in the third quarter. BlackRock Fund Advisors now owns 1,868,825 shares of the company’s stock worth $158,308,000 after buying an additional 109,686 shares during the last quarter. AQR Capital Management LLC raised its position in Tech Data Corp. by 8.8% in the second quarter. AQR Capital Management LLC now owns 1,599,891 shares of the company’s stock worth $114,952,000 after buying an additional 129,700 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Tech Data Corp. by 15.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,325,549 shares of the company’s stock worth $95,241,000 after buying an additional 173,424 shares during the last quarter.
Tech Data Corp. Company Profile
Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.
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