Mobileiron (NASDAQ:MOBL) Stock Price Down 6.6% Following Insider Selling

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Mobileiron Inc (NASDAQ:MOBL) shares traded down 6.6% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $5.60 and last traded at $6.23, 2,387,700 shares changed hands during trading. An increase of 137% from the average session volume of 1,007,545 shares. The stock had previously closed at $6.67.

Specifically, VP Sohail M. Parekh sold 40,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $4.74, for a total value of $189,600.00. Following the transaction, the vice president now owns 511,232 shares in the company, valued at $2,423,239.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Brian Foster sold 7,500 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $4.50, for a total value of $33,750.00. Following the completion of the transaction, the vice president now owns 383,742 shares in the company, valued at approximately $1,726,839. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,300 shares of company stock worth $956,544. 17.30% of the stock is owned by corporate insiders.

MOBL has been the topic of several recent research reports. Zacks Investment Research upgraded Mobileiron from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a report on Friday, May 1st. Northland Securities reiterated a “hold” rating and issued a $6.00 price target (up previously from $5.00) on shares of Mobileiron in a report on Thursday. Finally, BidaskClub upgraded Mobileiron from a “hold” rating to a “buy” rating in a report on Friday, July 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $6.42.

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a fifty day moving average price of $5.05 and a two-hundred day moving average price of $4.55. The company has a market cap of $718.76 million, a P/E ratio of -19.47 and a beta of 1.51.

Mobileiron (NASDAQ:MOBL) last posted its earnings results on Wednesday, July 29th. The software maker reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.07. Mobileiron had a negative return on equity of 96.72% and a negative net margin of 17.37%. The company had revenue of $58.93 million for the quarter, compared to analyst estimates of $49.91 million. During the same quarter last year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts predict that Mobileiron Inc will post -0.4 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Swiss National Bank lifted its holdings in shares of Mobileiron by 3.4% in the first quarter. Swiss National Bank now owns 130,400 shares of the software maker’s stock valued at $496,000 after purchasing an additional 4,300 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Mobileiron by 5.0% in the first quarter. Alliancebernstein L.P. now owns 113,230 shares of the software maker’s stock valued at $430,000 after purchasing an additional 5,400 shares in the last quarter. Credit Suisse AG increased its position in shares of Mobileiron by 6.3% during the fourth quarter. Credit Suisse AG now owns 95,159 shares of the software maker’s stock valued at $463,000 after acquiring an additional 5,635 shares during the last quarter. AXA increased its position in shares of Mobileiron by 26.4% during the fourth quarter. AXA now owns 51,300 shares of the software maker’s stock valued at $249,000 after acquiring an additional 10,700 shares during the last quarter. Finally, Advisor Group Holdings Inc. purchased a new stake in shares of Mobileiron during the first quarter valued at approximately $55,000. Institutional investors own 66.85% of the company’s stock.

About Mobileiron (NASDAQ:MOBL)

MobileIron, Inc, together with its subsidiaries, provides mobile IT platform that enables enterprises to manage and secure mobile applications, content, and devices while offering their employees with device choice, privacy, and a native user experience worldwide. It offers MobileIron security platform, which includes MobileIron unified endpoint management, a comprehensive security platform that provides the fundamental visibility and IT controls to secure, manage, and monitor various corporate or employee-owned mobile devices or desktops that access business-critical data; MobileIron Access to block untrusted devices and apps from accessing cloud services based on security posture and compliance, as well as provide single sign-on and multifactor authentication for applications on the device; and MobileIron Tunnel that provides secure connectivity through a per-app VPN to connect applications to back-end services.

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