Investors Buy Goldman Sachs

Shares of Goldman Sachs (NYSE:GS) were bought by investors during trading hours on Friday following insider selling activity. According to market estimates, nearly $84.52 million flowed out of the stock on the tick-down and $153.87 million flowed into the stock on the tick-up and Goldman Sachs had the sixth highest net in-flow for the day of all stocks tracked.

Goldman Sachs COO Gary D. Cohn sold 38,072 shares of company’s stock on the open market in a transaction that happened on Wednesday, June 10th. This sale was disclosed in a legal filing with the U.S. Securities and Exchange Commission. The stock was sold at an average price of $212.00 and amount of the total transaction was $8,071,264.00. After this event, Goldman Sachs traded down ($0.88) for the day and closed at $213.06. The company has a P/E ratio of 11.23 and its 200-day moving average is $192. GS stock’s 50-day moving average is $203 and Goldman Sachs has a market cap of $96.07 million.

The investment management company last posted its quarterly earnings results on April 16. It managed to beat the Thomson Reuters consensus estimate of $4.18 by $1.76 by reporting $5.94 EPS for the quarter. Compared to the consensus estimate of $9.16 billion, Goldman Sachs had revenue of $10.62 billion for the quarter. Quarterly revenue of the company was up 13.9 percent on a year-over-year basis and analysts believe that GS would post $19.50 EPS for the current fiscal year.

In a research note, analysts at Susquehanna reiterated a “hold” rating on GS. Shares of Goldman Sachs were downgraded to a “hold” rating by analysts at Wells Fargo & Co. in a research note. Analysts at Atlantic Securities set an “overweight” rating and a $228.00 price target on GS stock and analysts at Vetr set a $200.55 price target on the stock and downgraded shares of the investment management company from a “hold” rating to a “sell” rating.

 

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