Eric Smit Sells 5,000 Shares of eGain (NASDAQ:EGAN) Stock

by · The Cerbat Gem

eGain Corporation (NASDAQ:EGAN – Get Free Report) CFO Eric Smit sold 5,000 shares of eGain stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $14.44, for a total value of $72,200.00. Following the sale, the chief financial officer owned 129,187 shares in the company, valued at $1,865,460.28. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eric Smit also recently made the following trade(s):

  • On Friday, October 3rd, Eric Smit sold 15,000 shares of eGain stock. The shares were sold at an average price of $10.00, for a total value of $150,000.00.

eGain Stock Performance

Shares of NASDAQ EGAN traded down $0.12 during mid-day trading on Wednesday, hitting $15.11. 454,717 shares of the stock traded hands, compared to its average volume of 126,452. eGain Corporation has a 52 week low of $4.34 and a 52 week high of $15.55. The company has a market cap of $408.26 million, a price-to-earnings ratio of 13.14 and a beta of 0.40. The stock has a fifty day moving average price of $10.59 and a 200-day moving average price of $7.54.

eGain announced that its board has approved a stock buyback program on Thursday, September 4th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

EGAN has been the topic of several analyst reports. Zacks Research raised eGain from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of eGain in a report on Tuesday, October 14th. Finally, Wall Street Zen raised eGain from a “hold” rating to a “buy” rating in a report on Saturday, September 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $10.00.

Get Our Latest Research Report on EGAN

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Jefferies Financial Group Inc. bought a new position in shares of eGain during the first quarter valued at $83,000. Ritholtz Wealth Management bought a new position in shares of eGain during the second quarter valued at $194,000. Jane Street Group LLC lifted its holdings in shares of eGain by 53.7% during the first quarter. Jane Street Group LLC now owns 47,726 shares of the technology company’s stock valued at $231,000 after purchasing an additional 16,678 shares in the last quarter. Strs Ohio bought a new position in shares of eGain during the first quarter valued at $250,000. Finally, Nuveen LLC bought a new position in shares of eGain during the first quarter valued at $296,000. 53.94% of the stock is owned by institutional investors.

About eGain

(Get Free Report)

eGain Corporation develops, licenses, implements, and supports customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific. It provides eGain Knowledge Hub, which helps businesses to centralize knowledge, policies, procedures, situational expertise, best-practices, while delivering guided, and personalized solutions to customers and agents; eGain Conversation Hub for digital-first, omnichannel interaction management within a modern, purpose-built desktop; and eGain Analytics Hub enables clients to measure, manage, and optimize omnichannel service operations and knowledge.

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