Vera Bradley Inc. (NASDAQ:VRA) major shareholder Michael C. Ray sold 10,800 shares of the stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $15.10, for a total transaction of $163,080.00. Following the transaction, the insider now directly owns 279,062 shares of the company’s stock, valued at $4,213,836.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Vera Bradley Inc. (NASDAQ:VRA) opened at 14.70 on Friday. The firm has a 50-day moving average of $15.56 and a 200 day moving average of $15.78. The stock has a market capitalization of $537.80 million, a PE ratio of 16.57 and a beta of 1.28. Vera Bradley Inc. has a 1-year low of $10.41 and a 1-year high of $20.69.
Vera Bradley (NASDAQ:VRA) last issued its earnings results on Thursday, September 1st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The business earned $119.20 million during the quarter. Vera Bradley had a net margin of 6.63% and a return on equity of 12.34%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. Analysts predict that Vera Bradley Inc. will post $0.90 EPS for the current year.
Several hedge funds have recently made changes to their positions in VRA. Texas Permanent School Fund bought a new stake in shares of Vera Bradley during the first quarter worth approximately $321,000. Prudential Financial Inc. bought a new stake in shares of Vera Bradley during the first quarter worth approximately $1,002,000. BlackRock Fund Advisors raised its stake in shares of Vera Bradley by 143.6% in the first quarter. BlackRock Fund Advisors now owns 1,349,293 shares of the company’s stock worth $27,445,000 after buying an additional 795,475 shares in the last quarter. AXA bought a new stake in shares of Vera Bradley during the first quarter worth approximately $1,534,000. Finally, Geode Capital Management LLC raised its stake in shares of Vera Bradley by 1.2% in the first quarter. Geode Capital Management LLC now owns 145,791 shares of the company’s stock worth $2,964,000 after buying an additional 1,720 shares in the last quarter. Hedge funds and other institutional investors own 55.34% of the company’s stock.
VRA has been the subject of a number of research reports. Zacks Investment Research raised shares of Vera Bradley from a “sell” rating to a “hold” rating in a research report on Saturday, June 18th. Wunderlich reduced their target price on shares of Vera Bradley from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, August 11th. Cowen and Company restated a “market perform” rating and set a $18.00 price target on shares of Vera Bradley in a research note on Sunday, September 4th. Robert W. Baird restated a “neutral” rating and set a $18.00 price target on shares of Vera Bradley in a research note on Sunday, September 4th. Finally, KeyCorp restated a “hold” rating on shares of Vera Bradley in a research note on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Vera Bradley presently has an average rating of “Hold” and a consensus target price of $18.75.
About Vera Bradley
Vera Bradley, Inc is a designer of women’s handbags, accessories, luggage and travel items, eyewear, and stationery and gifts. The Company’s segments include Direct and Indirect. It offers an assortment of products, including bags, such as purses, totes and backpacks; accessories, such as wallets, wristlets, phone cases and technology accessories; travel and travel accessories, such as weekend bags, duffel bags and cosmetic bags, and home, such as mugs, tumblers and textiles, including aprons, beach towels, throw blankets and comforters.
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