Overstock.com (OSTK) Shares Gap Down Following Insider Selling

Overstock.com Inc (NASDAQ:OSTK)’s share price gapped down before the market opened on Monday following insider selling activity. The stock had previously closed at $46.65, but opened at $49.50. Overstock.com shares last traded at $49.50, with a volume of 5230305 shares trading hands.

Specifically, insider Jonathan E. Johnson III sold 4,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $66.10, for a total transaction of $264,400.00. Following the transaction, the insider now directly owns 30,092 shares of the company’s stock, valued at $1,989,081.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Carter Paul Lee sold 2,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $47.28, for a total transaction of $94,560.00. Following the transaction, the senior vice president now directly owns 3,089 shares in the company, valued at $146,047.92. The disclosure for this sale can be found here. Insiders have sold 24,386 shares of company stock worth $1,356,221 over the last three months. Company insiders own 28.90% of the company’s stock.

OSTK has been the topic of several research analyst reports. DA Davidson raised their price target on Overstock.com to $57.00 in a research report on Wednesday, October 25th. BidaskClub downgraded Overstock.com from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th.

The stock has a market cap of $1,240.00, a PE ratio of -115.12 and a beta of 1.47. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33.

Several large investors have recently modified their holdings of OSTK. SG Americas Securities LLC acquired a new stake in shares of Overstock.com in the third quarter valued at about $109,000. Edge Wealth Management LLC bought a new stake in shares of Overstock.com in the fourth quarter valued at about $130,000. SpiderRock Advisors LLC bought a new stake in shares of Overstock.com in the third quarter valued at about $145,000. Pier 88 Investment Partners LLC bought a new stake in shares of Overstock.com in the fourth quarter valued at about $147,000. Finally, Crow Point Partners LLC bought a new stake in shares of Overstock.com in the third quarter valued at about $192,000. 47.44% of the stock is currently owned by institutional investors.

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Overstock.com Company Profile

Overstock.com, Inc is an online retailer and incubator of blockchain technology. Through its online retail business, the Company offers a range of price-competitive brand name, non-brand name and closeout products, including furniture, home decor, bedding and bath, housewares, jewelry and watches, apparel and designer accessories, health and beauty products, electronics and computers, and sporting goods.

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