Everspin Tech (NASDAQ:MRAM) Stock: Insider Sanjeev Aggarwal Sells 19,572 Shares

Everspin Tech (NASDAQ:MRAM) CEO Sanjeev Aggarwal sold 19,572 shares of Everspin Tech stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $19.08, for a total value of $373,433.76. Following the completion of the sale, the chief executive officer owned 813,627 shares of the company’s stock, valued at $15,524,003.16. The trade was a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Everspin Tech Stock Down 3.2%

MRAM traded down $0.61 during midday trading on Monday, hitting $18.22. 786,550 shares of the company traded hands, compared to its average volume of 1,766,300. The firm has a market capitalization of $443.66 million, a PE ratio of -165.62 and a beta of 1.88. The company’s 50-day moving average is $16.59 and its 200 day moving average is $18.72. Everspin Tech has a 52 week low of $7.35 and a 52 week high of $51.50.

Institutional Trading of Everspin Tech

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in Everspin Tech by 13.0% during the first quarter. Dimensional Fund Advisors LP now owns 409,010 shares of the business services provider’s stock valued at $3,594,000 after buying an additional 46,929 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Everspin Tech by 27.9% in the 1st quarter. Renaissance Technologies LLC now owns 334,367 shares of the business services provider’s stock worth $2,939,000 after purchasing an additional 73,000 shares in the last quarter. Bank of America Corp DE raised its holdings in Everspin Tech by 783.4% in the 1st quarter. Bank of America Corp DE now owns 219,460 shares of the business services provider’s stock worth $1,929,000 after purchasing an additional 194,617 shares during the period. 683 Capital Management LLC purchased a new position in Everspin Tech during the fourth quarter valued at $1,020,000. Finally, Sei Investments Co. lifted its position in Everspin Tech by 25.7% during the first quarter. Sei Investments Co. now owns 66,202 shares of the business services provider’s stock valued at $582,000 after purchasing an additional 13,516 shares in the last quarter. 44.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Everspin Tech from $18.50 to $19.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings lowered shares of Everspin Tech from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Everspin Tech currently has a consensus rating of “Hold” and an average target price of $19.00.

About Everspin Tech

Everspin Technologies, Inc develops and supplies magnetic random-access memory (MRAM) products for applications that require persistent data storage, fast access, high endurance and reliable operation. Unlike conventional volatile memory, MRAM retains data when power is removed, making it suitable for systems that need rapid recovery and data protection.

The company’s product portfolio includes parallel and serial-peripheral-interface (SPI) MRAM, Toggle MRAM and spin-transfer torque (STT-MRAM) products.