Ravi Venkatesan Purchases 8,000 Shares of Cantaloupe, Inc. (NASDAQ:CTLP) Stock

Cantaloupe, Inc. (NASDAQ:CTLP) CEO Ravi Venkatesan purchased 8,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were bought at an average cost of $6.30 per share, with a total value of $50,400.00. Following the transaction, the chief executive officer now directly owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Cantaloupe Stock Down 0.9 %

CTLP opened at $6.33 on Thursday. Cantaloupe, Inc. has a 12 month low of $5.74 and a 12 month high of $7.91. The business has a 50-day moving average of $6.88 and a two-hundred day moving average of $6.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 1.10. The stock has a market capitalization of $462.03 million, a price-to-earnings ratio of 39.56 and a beta of 1.70.

Cantaloupe (NASDAQ:CTLP) last released its earnings results on Tuesday, September 10th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $72.66 million during the quarter, compared to analysts’ expectations of $76.14 million. Cantaloupe had a net margin of 4.47% and a return on equity of 6.83%. During the same quarter in the previous year, the firm posted $0.04 earnings per share. On average, research analysts expect that Cantaloupe, Inc. will post 0.31 earnings per share for the current year.

Institutional Trading of Cantaloupe

A number of institutional investors and hedge funds have recently made changes to their positions in CTLP. Assenagon Asset Management S.A. acquired a new position in Cantaloupe in the second quarter valued at $89,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Cantaloupe by 23.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock valued at $111,000 after purchasing an additional 3,197 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cantaloupe by 68.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company’s stock worth $152,000 after purchasing an additional 9,374 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Cantaloupe by 15.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock worth $159,000 after purchasing an additional 3,210 shares during the period. Finally, Squarepoint Ops LLC increased its position in Cantaloupe by 163.2% during the 2nd quarter. Squarepoint Ops LLC now owns 31,228 shares of the technology company’s stock worth $206,000 after purchasing an additional 19,365 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTLP. Benchmark reaffirmed a “buy” rating and set a $10.00 price objective on shares of Cantaloupe in a research note on Wednesday, September 11th. Craig Hallum decreased their price target on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Northland Securities reissued an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research report on Friday, July 12th. Finally, Barrington Research restated an “outperform” rating and set a $10.00 target price on shares of Cantaloupe in a research report on Friday, September 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $10.00.

Cantaloupe Company Profile

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for self-service commerce market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides G11 cashless and pulse kits that are 4G LTE digital payment devices for payment and consumer engagement applications; G11 chip kit, a digital reader that accepts contact EMV and contactless EMV payment methods; Engage series comprising Engage and Engage Combo, which are digital touchscreen devices that offers networking, security, and interactivity payment methods; and card touchscreen card readers, including P66, P100, P100Pro, and P30.