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Momentive Global (NASDAQ:MNTV) Shares Gap Down to $7.23

Defense World · Jan 15, 2023 01:51

Momentive Global Inc. (NASDAQ:MNTV – Get Rating) shares gapped down prior to trading on Friday . The stock had previously closed at $7.23, but opened at $6.91. Momentive Global shares last traded at $7.20, with a volume of 368 shares.

Analyst Ratings Changes

Separately, Credit Suisse Group reduced their price target on Momentive Global from $16.00 to $13.00 and set a "neutral" rating on the stock in a report on Friday, November 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $15.25.

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Momentive Global Price Performance

The business has a fifty day simple moving average of $7.40 and a two-hundred day simple moving average of $7.49. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.08 billion, a PE ratio of -8.43 and a beta of 1.50.

Momentive Global (NASDAQ:MNTV – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. Momentive Global had a negative return on equity of 37.13% and a negative net margin of 26.84%. The firm had revenue of $121.38 million for the quarter, compared to the consensus estimate of $120.50 million. Research analysts forecast that Momentive Global Inc. will post -0.52 earnings per share for the current year.

Insider Transactions at Momentive Global

In other news, CEO Alexander J. Lurie sold 19,356 shares of the business's stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $8.07, for a total value of $156,202.92. Following the sale, the chief executive officer now directly owns 1,471,998 shares of the company's stock, valued at approximately $11,879,023.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Priyanka Carr sold 9,176 shares of the company's stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $8.07, for a total value of $74,050.32. Following the completion of the sale, the chief operating officer now directly owns 254,148 shares in the company, valued at approximately $2,050,974.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alexander J. Lurie sold 19,356 shares of the company's stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $8.07, for a total value of $156,202.92. Following the completion of the sale, the chief executive officer now owns 1,471,998 shares of the company's stock, valued at $11,879,023.86. The disclosure for this sale can be found here. Insiders have sold a total of 36,004 shares of company stock valued at $291,274 in the last ninety days. 17.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Momentive Global

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new stake in Momentive Global in the 4th quarter worth $9,650,000. MQS Management LLC purchased a new position in shares of Momentive Global during the third quarter worth approximately $108,000. Bank of New York Mellon Corp increased its position in shares of Momentive Global by 264.2% during the third quarter. Bank of New York Mellon Corp now owns 1,857,138 shares of the company's stock worth $10,789,000 after acquiring an additional 1,347,215 shares during the period. M&T Bank Corp increased its position in shares of Momentive Global by 23.3% during the third quarter. M&T Bank Corp now owns 143,270 shares of the company's stock worth $832,000 after acquiring an additional 27,048 shares during the period. Finally, State Street Corp increased its holdings in Momentive Global by 1.4% during the third quarter. State Street Corp now owns 2,753,040 shares of the company's stock valued at $15,995,000 after buying an additional 36,836 shares during the period. 77.56% of the stock is currently owned by hedge funds and other institutional investors.

Momentive Global Company Profile

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Momentive Global Inc provides Software-as-a-Service solutions that help businesses turn stakeholder feedback into action in the United States and internationally. It offers survey software products under the SurveyMonkey brand, that enable customers to listen and take action on stakeholder feedback; GetFeedback CX platform, which enables companies to leverage in-the-moment customer feedback to engage and retain their customers; GetFeedback Essentials provides companies the tools to launch customer experience programs quickly by gathering feedback via email and across their websites, analyzing it in one place, and integrating with their Salesforce CRM platform; GetFeedback Pro, includes the Essentials features and adds feedback collection channels, advanced analytics, automation, and additional pre-built integrations; and GetFeedback Ultimate, comprises the GetFeedback Pro features and adds mobile apps as a feedback collection channel and enables single sign-on.