Cantaloupe (NASDAQ:CTLP) CTO Sells $2,126,000.00 in Stock

Key Points

• Cantaloupe's CTO, Gaurav Singal, sold 200,000 shares for a total of $2,126,000, reducing his ownership stake by 83.15%.
• The stock's current trading price is $10.63, with a market cap of approximately $779.91 million and a PE ratio of 13.46.
• Institutional investors hold 75.75% of Cantaloupe's stock, with several companies significantly increasing their positions recently.

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) CTO Gaurav Singal sold 200,000 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $10.63, for a total value of $2,126,000.00. Following the sale, the chief technology officer owned 40,533 shares of the company's stock, valued at $430,865.79. This trade represents a 83.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Cantaloupe Stock Down 0.4%

CTLP traded down $0.04 during mid-day trading on Monday, reaching $10.59. 1,776,113 shares of the stock were exchanged, compared to its average volume of 2,197,623. Cantaloupe, Inc. has a 1 year low of $6.71 and a 1 year high of $11.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 1.86. The stock has a market capitalization of $776.99 million, a PE ratio of 13.41 and a beta of 1.09. The company has a 50 day moving average price of $10.93 and a two-hundred day moving average price of $9.52.

Hedge Funds Weigh In On Cantaloupe

Large investors have recently made changes to their positions in the stock. Magnetar Financial LLC boosted its position in shares of Cantaloupe by 10,162.7% in the second quarter. Magnetar Financial LLC now owns 3,257,595 shares of the technology company's stock valued at $35,801,000 after acquiring an additional 3,225,853 shares during the period. Beryl Capital Management LLC purchased a new stake in Cantaloupe in the 2nd quarter worth approximately $27,709,000. Alliancebernstein L.P. boosted its holdings in Cantaloupe by 3,808.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,740,226 shares of the technology company's stock valued at $19,125,000 after purchasing an additional 1,695,696 shares during the period. Disciplined Growth Investors Inc. MN grew its position in shares of Cantaloupe by 60.1% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,173,351 shares of the technology company's stock valued at $34,875,000 after purchasing an additional 1,191,748 shares in the last quarter. Finally, Alpine Associates Management Inc. bought a new position in shares of Cantaloupe in the second quarter worth $12,053,000. 75.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CTLP shares. Benchmark cut Cantaloupe from a "buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Northland Capmk downgraded shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. William Blair cut shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. B. Riley downgraded shares of Cantaloupe from a "buy" rating to a "neutral" rating and reduced their target price for the company from $11.50 to $11.20 in a research report on Tuesday, June 17th. Finally, Craig Hallum downgraded Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $12.55.

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.