Insider Selling: National Instruments Corp (NATI) Director Sells 342,500 Shares of Stock
National Instruments Corp (NASDAQ:NATI) Director James J. Truchard sold 342,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $50.38, for a total value of $17,255,150.00. Following the transaction, the director now owns 8,120,037 shares in the company, valued at $409,087,464.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
National Instruments Corp (NASDAQ:NATI) traded up $0.82 on Thursday, reaching $50.21. The company had a trading volume of 1,148,900 shares, compared to its average volume of 572,550. National Instruments Corp has a 12-month low of $31.39 and a 12-month high of $50.87. The firm has a market capitalization of $6,457.50, a PE ratio of 53.11 and a beta of 1.03. The company has a quick ratio of 2.64, a current ratio of 3.32 and a debt-to-equity ratio of 0.01.
National Instruments (NASDAQ:NATI) last released its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. National Instruments had a return on equity of 10.76% and a net margin of 4.06%. The firm had revenue of $349.80 million for the quarter, compared to analysts’ expectations of $347.38 million. During the same period in the prior year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. equities analysts predict that National Instruments Corp will post 1.19 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NATI. Alliancebernstein L.P. lifted its holdings in National Instruments by 3,081.3% in the fourth quarter. Alliancebernstein L.P. now owns 2,000,276 shares of the technology company’s stock valued at $83,271,000 after acquiring an additional 1,937,399 shares during the last quarter. American Century Companies Inc. lifted its stake in National Instruments by 37.7% during the fourth quarter. American Century Companies Inc. now owns 2,137,187 shares of the technology company’s stock worth $88,971,000 after purchasing an additional 584,819 shares in the last quarter. First Trust Advisors LP lifted its stake in National Instruments by 480.0% during the third quarter. First Trust Advisors LP now owns 513,720 shares of the technology company’s stock worth $21,664,000 after purchasing an additional 425,154 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in National Instruments during the fourth quarter worth $12,739,000. Finally, Janus Henderson Group PLC lifted its stake in National Instruments by 2.5% during the third quarter. Janus Henderson Group PLC now owns 10,804,219 shares of the technology company’s stock worth $455,616,000 after purchasing an additional 262,578 shares in the last quarter. Hedge funds and other institutional investors own 78.60% of the company’s stock.
Several research analysts have recently weighed in on NATI shares. Stifel Nicolaus restated a “buy” rating and set a $46.00 target price on shares of National Instruments in a report on Sunday, October 29th. BidaskClub cut National Instruments from a “sell” rating to a “strong sell” rating in a report on Saturday, December 16th. Zacks Investment Research upgraded National Instruments from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, December 28th. Finally, Robert W. Baird restated a “buy” rating on shares of National Instruments in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $46.67.
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About National Instruments
National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers a line of measurement, automation and control products. It offers products, technology and services, which include system design software, programming tools, application software, modular hardware products and related driver software, production test systems, NI education platform, software products for teaching and hardware products for teaching.
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