State Board of Administration of Florida Retirement System purchased a new position in SVMK Inc (NASDAQ:SVMK) during the 2nd quarter, HoldingsChannel reports. The firm purchased 10,260 shares of the company’s stock, valued at approximately $169,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Rhumbline Advisers boosted its position in shares of SVMK by 3.3% in the first quarter. Rhumbline Advisers now owns 21,722 shares of the company’s stock valued at $396,000 after acquiring an additional 692 shares during the period. BNP Paribas Arbitrage SA raised its stake in SVMK by 3,055.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,786 shares of the company’s stock valued at $69,000 after purchasing an additional 3,666 shares during the last quarter. Deutsche Bank AG acquired a new position in SVMK during the 4th quarter valued at $72,000. Saturna Capital CORP increased its holdings in shares of SVMK by 55.0% during the 2nd quarter. Saturna Capital CORP now owns 21,700 shares of the company’s stock worth $358,000 after purchasing an additional 7,700 shares during the period. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of SVMK in the first quarter valued at about $189,000. 76.68% of the stock is currently owned by institutional investors.
In related news, Director Dana L. Evan sold 45,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $17.40, for a total value of $783,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Tiger Global Management Llc sold 4,500,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $15.82, for a total value of $71,190,000.00. The disclosure for this sale can be found here. Insiders sold 4,772,639 shares of company stock valued at $75,901,324 in the last three months. Company insiders own 26.30% of the company’s stock.
SVMK (NASDAQ:SVMK) last issued its earnings results on Thursday, August 1st. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The business had revenue of $75.14 million for the quarter, compared to analyst estimates of $72.72 million. SVMK had a negative net margin of 59.16% and a negative return on equity of 25.79%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) EPS. Sell-side analysts anticipate that SVMK Inc will post -0.59 EPS for the current year.
A number of equities research analysts recently weighed in on SVMK shares. Zacks Investment Research downgraded SVMK from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. UBS Group raised SVMK from a “neutral” rating to a “buy” rating and upped their price target for the company from $18.00 to $24.00 in a report on Friday, August 2nd. Finally, SunTrust Banks reiterated a “buy” rating and issued a $22.00 price objective on shares of SVMK in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $17.88.
SVMK Company Profile
SVMK Inc provides survey software products and purpose-built solutions that enable organizations to engage with their customers, employees, and the markets they serve in the United States and internationally. Its cloud-based SaaS platform helps individuals and organizations to design and distribute surveys that generate an average of approximately 20 million answered questions daily across approximately 190 countries and territories.
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