Insider Selling: Everspin Technologies, Inc. (NASDAQ:MRAM) VP Sells $14,833.63 in Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk sold 2,381 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $6.23, for a total value of $14,833.63. Following the transaction, the vice president now owns 91,647 shares in the company, valued at approximately $570,960.81. The trade was a 2.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

David Schrenk also recently made the following trade(s):

• On Friday, November 29th, David Schrenk sold 2,381 shares of Everspin Technologies stock. The shares were sold at an average price of $6.08, for a total transaction of $14,476.48.

Everspin Technologies Price Performance

NASDAQ:MRAM opened at $6.23 on Friday. Everspin Technologies, Inc. has a one year low of $4.89 and a one year high of $9.43. The company’s 50-day simple moving average is $6.19 and its 200 day simple moving average is $5.98. The firm has a market capitalization of $136.87 million, a P/E ratio of 103.83 and a beta of 0.90.

Institutional Trading of Everspin Technologies

A number of hedge funds have recently made changes to their positions in MRAM. Herald Investment Management Ltd boosted its stake in Everspin Technologies by 41.7% in the 2nd quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock worth $2,835,000 after purchasing an additional 139,817 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Everspin Technologies by 17.0% in the second quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock worth $5,003,000 after buying an additional 121,717 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Everspin Technologies by 15.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider’s stock valued at $2,440,000 after buying an additional 55,772 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Everspin Technologies by 75.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 113,655 shares of the business services provider’s stock valued at $681,000 after acquiring an additional 49,032 shares during the period. Finally, Barclays PLC increased its holdings in Everspin Technologies by 157.9% in the 3rd quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock worth $310,000 after acquiring an additional 32,240 shares in the last quarter. 44.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 price objective on shares of Everspin Technologies in a report on Thursday, October 31st. StockNews.com raised shares of Everspin Technologies from a “hold” rating to a “buy” rating in a research report on Friday.

About Everspin Technologies

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.