Groupon Inc (NASDAQ:GRPN) director Theodore Leonsis unloaded 19,750 shares of the company in an open transaction on Monday, Nov. 17. The shares were sold at an average price of $7.69, totaling to $151,877.50. Post-transaction, the director now owns 810,296 shares of the company’s stock valued at approximately $6.2 million, according to a filing with the SEC.
In the process of transformation
Separately, Barrington Research analysts maintained their Outperform rating on the company’s stock in a research note issued to investors on Monday and assigned a price target of $9 per share from $8 per share previously. “Groupon is poised to continue re-accelerating growth and profitability given the aforementioned reasons as well as its recognizable brand and market share advantage,” the analysts stated in the report.
Analyst Day briefings indicated that the company is transforming into a proper online marketplace form a daily deals email company. The analyst noted that Groupon is generating demand and fulfilling it by offering a range of deals on its online marketplace, which was launched in November 2012.
A number of analysts recently assigned ratings to the stock. Goldman Sachs analysts increased their price target on Groupon shares to $8 in a research note to investors on Nov. 12. They have now assigned a Neutral rating on the stock. Separately, analysts at Sterne Agee maintained their Buy rating on the stock with a price target of $7.88. Groupon currently has an average rating of Hold and an average price target of $8.55 per share.
Groupon focuses more on attracting users
Recently the email marketing company acquired Swarm Mobile to get access to the company’s data analytics and customer relationship management tools to enhance its sales and create closer and long term relationships with its customers. The Swarm Mobile team will join Groupon Inc’s merchant operating system in San Francisco. Both teams together will create synergy and improve the company’s offerings.
Groupon said that with a higher number of merchants understanding consumer shopping habits, specialized offers will benefit customers, along with customs notifications and the opportunity to provide real-time feedback. “We’re excited to have Swarm join us in our mission to connect local commerce.”
For the latest quarter, Groupon reported earnings per share of 3 cents, above analysts’ estimate of 1 cent per share. The company’s revenue came in at $757.1 million, compared to the consensus estimate of $749 million.