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 the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $5.00, for a total value of $84,225.00. Following the completion of the transaction, the chief executive officer now owns 637,983 shares of the company’s stock, valued at approximately $3,189,915. This trade represents a 2.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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 transaction of $188,712.54.

Everspin Technologies Stock Down 6.1 %

Shares of Everspin Technologies stock traded down $0.31 on Thursday, reaching $4.76. The company’s stock had a trading volume of 201,193 shares, compared to its average volume of 121,188. Everspin Technologies, Inc. has a 52 week low of $4.75 and a 52 week high of $8.09. The firm’s fifty day simple moving average is $5.60 and its two-hundred day simple moving average is $5.98. The company has a market capitalization of $105.39 million, a price-to-earnings ratio of 79.33 and a beta of 0.79.

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

Hedge Funds Weigh In On Everspin Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of Everspin Technologies by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock valued at $2,437,000 after acquiring an additional 1,941 shares during the period. Wells Fargo & Company MN lifted its position in shares of Everspin Technologies by 42.3% in the fourth quarter. Wells Fargo & Company MN now owns 10,635 shares of the business services provider’s stock valued at $68,000 after acquiring an additional 3,159 shares in the last quarter. State Street Corp boosted its stake in shares of Everspin Technologies by 1.5% in the third quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock worth $1,294,000 after acquiring an additional 3,298 shares during the period. Barclays PLC grew its position in shares of Everspin Technologies by 6.4% during the fourth quarter. Barclays PLC now owns 56,004 shares of the business services provider’s stock worth $357,000 after purchasing an additional 3,350 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Everspin Technologies by 9.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,283 shares of the business services provider’s stock valued at $379,000 after purchasing an additional 5,059 shares during the period. Hedge funds and other institutional investors own 44.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Everspin Technologies from a “buy” rating to a “hold” rating in a 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.