California State Teachers Retirement System Has $20.29 Million Holdings in Echostar CORP $ECHO

California State Teachers Retirement System lowered its position in Echostar CORP (NASDAQ:ECHO - Free Report) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,911 shares of the company's stock after selling 6,924 shares during the period. California State Teachers Retirement System owned about 0.07% of Echostar worth $20,290,967 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Echostar by 4.1% in the 1st quarter. Parallel Advisors LLC now owns 2,089 shares of the company's stock valued at $245,000 after acquiring an additional 83 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Echostar by 0.4% during the 1st quarter. Diversified Trust Co now owns 22,845 shares of the company's stock worth $2,674,000 after acquiring an additional 84 shares in the last quarter. Strs Ohio raised its holdings in shares of Echostar by 0.5% during the 1st quarter. Strs Ohio now owns 19,100 shares of the company's stock worth $2,236,000 after acquiring an additional 100 shares during the period. PNC Financial Services Group Inc. increased its stake in Echostar by 2.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,618 shares of the company's stock worth $611,000 after buying an additional 114 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC increased its position in shares of Echostar by 0.5% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 30,118 shares of the company's stock worth $3,274,000 after purchasing an additional 144 shares in the last quarter. 33.62% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director William Wade sold 2,575 shares of Echostar stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $92.65, for a total transaction of $238,573.75. Following the transaction, the director owned 2,749 shares in the company, valued at $254,694.85. The trade was a 48.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen Bye sold 8,508 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $89.83, for a total value of $764,273.64. Following the sale, the director owned 653 shares of the company's stock, valued at approximately $58,658.99. The trade was a 92.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,508 shares of company stock worth $1,224,686 over the last quarter. Corporate insiders own 55.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TD Cowen decreased their price objective on shares of Echostar from $155.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Morgan Stanley reaffirmed an "overweight" rating and set a $134.00 target price on shares of Echostar in a report on Monday. New Street Research set a $165.00 target price on Echostar in a research note on Monday, June 15th. UBS Group upgraded shares of Echostar from a "neutral" rating to a "buy" rating and boosted their target price for the company from $127.00 to $150.00 in a report on Tuesday, September 8th. Finally, Citigroup lowered their price target on shares of Echostar from $126.00 to $117.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Echostar has a consensus rating of "Moderate Buy" and a consensus target price of $137.88.

Echostar Stock Down 1.1%

NASDAQ:ECHO traded down $0.99 on Tuesday, reaching $92.90. The company's stock had a trading volume of 1,250,933 shares, compared to its average volume of 6,500,154. Echostar CORP has a 12-month low of $65.76 and a 12-month high of $147.25. The company has a 50 day moving average of $90.04. The company has a current ratio of 5.20, a quick ratio of 5.12 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $26.99 billion, a price-to-earnings ratio of -3.71 and a beta of 1.00.

Echostar (NASDAQ:ECHO - Get Free Report) last posted its earnings results on Saturday, May 9th. The company reported ($0.51) earnings per share for the quarter. The firm had revenue of $3.67 billion during the quarter. Echostar had a negative net margin of 38.71% and a negative return on equity of 1.28%. Equities research analysts expect that Echostar CORP will post -1.35 EPS for the current fiscal year.

About Echostar

EchoStar Corporation is a global communications and technology company that provides satellite, broadband, and wireless connectivity services. Its operations include satellite communications, broadband internet, enterprise networking, and related technology solutions for consumers, businesses, and government customers.

Through its Hughes business, EchoStar provides satellite-based broadband services under the HughesNet brand, as well as managed network services, equipment, and connectivity solutions for residential and commercial users.

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