Tableau Software (DATA) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Tableau Software Inc (NYSE:DATA) saw strong trading volume on Monday after Bank of America raised their price target on the stock from $90.00 to $108.00. Bank of America currently has a buy rating on the stock. 1,005,851 shares changed hands during mid-day trading, an increase of 4% from the previous session’s volume of 966,409 shares.The stock last traded at $81.84 and had previously closed at $84.01.

A number of other analysts also recently weighed in on the stock. JMP Securities increased their price target on shares of Tableau Software from $77.00 to $94.00 and gave the company a “market outperform” rating in a report on Friday. Stifel Nicolaus restated a “buy” rating and issued a $95.00 price objective on shares of Tableau Software in a research note on Friday. Wells Fargo & Co increased their price objective on shares of Tableau Software to $90.00 and gave the company a “market perform” rating in a research note on Friday. Needham & Company LLC increased their price objective on shares of Tableau Software to $113.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barclays increased their price objective on shares of Tableau Software from $82.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $79.68.

In other Tableau Software news, CEO Adam Selipsky sold 1,600 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $68.45, for a total transaction of $109,520.00. Following the sale, the chief executive officer now owns 229,828 shares of the company’s stock, valued at approximately $15,731,726.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas E. Walker, Jr. sold 5,000 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $71.39, for a total transaction of $356,950.00. Following the sale, the chief financial officer now directly owns 137,478 shares in the company, valued at approximately $9,814,554.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 692,286 shares of company stock worth $48,819,636. Insiders own 24.76% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Tableau Software by 7.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,287 shares of the software company’s stock valued at $140,000 after purchasing an additional 167 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Tableau Software by 1.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 77,351 shares of the software company’s stock valued at $5,793,000 after purchasing an additional 730 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Tableau Software by 4.5% in the 2nd quarter. Voya Investment Management LLC now owns 23,038 shares of the software company’s stock valued at $1,412,000 after purchasing an additional 983 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Tableau Software by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,160 shares of the software company’s stock valued at $219,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Garde Capital Inc. boosted its stake in shares of Tableau Software by 9.7% in the 3rd quarter. Garde Capital Inc. now owns 13,517 shares of the software company’s stock valued at $1,012,000 after purchasing an additional 1,200 shares during the last quarter. 81.39% of the stock is currently owned by institutional investors.

The company has a market cap of $6,650.00, a P/E ratio of -34.66 and a beta of 0.88.

Tableau Software (NYSE:DATA) last released its quarterly earnings data on Thursday, February 1st. The software company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.09. Tableau Software had a negative net margin of 21.16% and a negative return on equity of 23.76%. The business had revenue of $249.40 million for the quarter, compared to analyst estimates of $240.63 million. During the same quarter last year, the firm earned $0.26 EPS. Tableau Software’s quarterly revenue was down .5% compared to the same quarter last year. equities research analysts anticipate that Tableau Software Inc will post -1.61 earnings per share for the current fiscal year.

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About Tableau Software

Tableau Software, Inc (Tableau) offers software products. The Company’s products are used by people of diverse skill levels across all kinds of organizations. The Company’s products are used by people of skill levels across all kinds of organizations. Its technologies include visual query language (VizQL) and Hybrid Data Architecture.

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