Marc Eisenberg Sells 30,000 Shares of ORBCOMM Inc. (ORBC) Stock

ORBCOMM Inc. (NASDAQ:ORBC) CEO Marc Eisenberg sold 30,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $10.53, for a total transaction of $315,900.00. Following the sale, the chief executive officer now owns 215,321 shares in the company, valued at approximately $2,267,330.13. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Marc Eisenberg also recently made the following trade(s):

  • On Tuesday, May 16th, Marc Eisenberg sold 6,304 shares of ORBCOMM stock. The shares were sold at an average price of $10.00, for a total transaction of $63,040.00.
  • On Tuesday, April 25th, Marc Eisenberg sold 7,997 shares of ORBCOMM stock. The shares were sold at an average price of $10.01, for a total transaction of $80,049.97.
  • On Monday, April 3rd, Marc Eisenberg sold 23,583 shares of ORBCOMM stock. The shares were sold at an average price of $9.56, for a total transaction of $225,453.48.
  • On Tuesday, March 21st, Marc Eisenberg sold 1,417 shares of ORBCOMM stock. The shares were sold at an average price of $9.53, for a total transaction of $13,504.01.

Shares of ORBCOMM Inc. (ORBC) traded down 0.90% during trading on Friday, reaching $11.00. The company’s stock had a trading volume of 984,237 shares. The firm’s 50-day moving average is $10.06 and its 200-day moving average is $9.08. ORBCOMM Inc. has a 12-month low of $7.15 and a 12-month high of $11.47. The stock’s market capitalization is $788.35 million.

ORBCOMM (NASDAQ:ORBC) last released its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). ORBCOMM had a negative return on equity of 4.69% and a negative net margin of 12.69%. The business had revenue of $51.90 million for the quarter, compared to the consensus estimate of $48.59 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities analysts expect that ORBCOMM Inc. will post ($0.22) earnings per share for the current year.

Insider Buying and Selling by Quarter for ORBCOMM (NASDAQ:ORBC)

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A number of analysts have recently commented on the stock. Craig Hallum set a $13.00 target price on shares of ORBCOMM and gave the company a “buy” rating in a report on Tuesday. ValuEngine upgraded shares of ORBCOMM from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Chardan Capital reiterated a “buy” rating and issued a $11.50 price target on shares of ORBCOMM in a research note on Thursday, March 2nd. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 price target on shares of ORBCOMM in a research note on Tuesday, April 11th. Finally, Benchmark Co. initiated coverage on shares of ORBCOMM in a research note on Tuesday, April 25th. They issued a “buy” rating and a $13.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $12.88.

Several hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its stake in shares of ORBCOMM by 32.0% in the fourth quarter. Franklin Resources Inc. now owns 5,177,900 shares of the technology company’s stock worth $42,821,000 after buying an additional 1,255,700 shares during the period. Vanguard Group Inc. boosted its stake in shares of ORBCOMM by 16.6% in the first quarter. Vanguard Group Inc. now owns 5,803,530 shares of the technology company’s stock worth $55,424,000 after buying an additional 824,761 shares during the period. FMR LLC boosted its stake in shares of ORBCOMM by 1,486.7% in the first quarter. FMR LLC now owns 555,347 shares of the technology company’s stock worth $5,304,000 after buying an additional 520,347 shares during the period. Granite Investment Partners LLC boosted its stake in shares of ORBCOMM by 35.3% in the first quarter. Granite Investment Partners LLC now owns 1,716,496 shares of the technology company’s stock worth $16,393,000 after buying an additional 447,372 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of ORBCOMM by 387.8% in the first quarter. Renaissance Technologies LLC now owns 509,786 shares of the technology company’s stock worth $4,868,000 after buying an additional 405,286 shares during the period. 80.88% of the stock is owned by hedge funds and other institutional investors.

About ORBCOMM

ORBCOMM Inc is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and Web reporting applications. The Company’s IoT products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters, in industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime and government.

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