Insider Selling: Adesto Technologies Corp (NASDAQ:IOTS) VP Sells $91,340.47 in Stock

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Adesto Technologies Corp (NASDAQ:IOTS) VP Thomas D. Spade sold 9,217 shares of Adesto Technologies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $9.91, for a total transaction of $91,340.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of IOTS stock opened at $9.70 on Friday. The company has a market capitalization of $319.65 million, a price-to-earnings ratio of -34.64 and a beta of 1.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.80 and a current ratio of 1.14. The company has a 50-day simple moving average of $8.60 and a 200 day simple moving average of $7.11. Adesto Technologies Corp has a 52 week low of $3.51 and a 52 week high of $11.97.

A number of brokerages have recently commented on IOTS. ValuEngine downgraded shares of Adesto Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Northland Securities downgraded shares of Adesto Technologies from an “outperform” rating to a “market perform” rating and set a $10.00 price objective for the company. in a research report on Monday. Zacks Investment Research raised shares of Adesto Technologies from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday. Finally, TheStreet downgraded shares of Adesto Technologies from a “c-” rating to a “d” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $10.33.

Several hedge funds have recently made changes to their positions in IOTS. Cadence Capital Management LLC bought a new stake in shares of Adesto Technologies during the 2nd quarter worth about $2,289,000. Royce & Associates LP boosted its holdings in shares of Adesto Technologies by 24.1% during the 1st quarter. Royce & Associates LP now owns 865,400 shares of the technology company’s stock worth $5,236,000 after buying an additional 168,300 shares during the period. BlackRock Inc. boosted its holdings in shares of Adesto Technologies by 8.8% during the 2nd quarter. BlackRock Inc. now owns 1,764,214 shares of the technology company’s stock worth $14,378,000 after buying an additional 142,988 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of Adesto Technologies by 312.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 111,075 shares of the technology company’s stock worth $905,000 after buying an additional 84,127 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Adesto Technologies by 78.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 172,316 shares of the technology company’s stock worth $758,000 after buying an additional 75,962 shares during the period. 62.42% of the stock is owned by institutional investors and hedge funds.

About Adesto Technologies

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors and embedded systems that offer the building blocks of Internet of Things (IoT) edge devices operating on networks worldwide. The company's portfolio of semiconductor and embedded technologies are optimized for connected IoT devices and systems used in industrial, consumer, communications, and medical applications.

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