Goldman Sachs Group Inc. cut its holdings in shares of Control4 (NASDAQ:CTRL) by 40.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,878 shares of the electronics maker’s stock after selling 44,582 shares during the period. Goldman Sachs Group Inc. owned approximately 0.25% of Control4 worth $1,931,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Stone Ridge Asset Management LLC purchased a new stake in shares of Control4 in the 4th quarter valued at approximately $784,000. Guggenheim Capital LLC purchased a new stake in shares of Control4 in the 4th quarter valued at approximately $2,607,000. Deutsche Bank AG lifted its position in shares of Control4 by 65.6% in the 4th quarter. Deutsche Bank AG now owns 146,721 shares of the electronics maker’s stock valued at $4,365,000 after acquiring an additional 58,118 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Control4 by 50.8% in the 4th quarter. Geode Capital Management LLC now owns 275,203 shares of the electronics maker’s stock valued at $8,189,000 after acquiring an additional 92,704 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Control4 by 1,275.0% in the 4th quarter. Allianz Asset Management GmbH now owns 314,865 shares of the electronics maker’s stock valued at $9,370,000 after acquiring an additional 291,965 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.
In other Control4 news, CEO Martin Plaehn sold 41,585 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $24.51, for a total value of $1,019,248.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Bryce Judd sold 19,073 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $24.97, for a total transaction of $476,252.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,377 shares of company stock worth $3,904,668. Company insiders own 4.40% of the company’s stock.
Several equities research analysts recently commented on the stock. DA Davidson assumed coverage on shares of Control4 in a research report on Friday, March 16th. They issued a “buy” rating and a $30.00 price target for the company. Zacks Investment Research upgraded shares of Control4 from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 14th. BidaskClub upgraded shares of Control4 from a “strong sell” rating to a “sell” rating in a research report on Friday, March 9th. Dougherty & Co restated a “neutral” rating on shares of Control4 in a research report on Monday, February 12th. Finally, Maxim Group upgraded shares of Control4 from a “hold” rating to a “buy” rating and upped their price target for the company from $33.00 to $36.00 in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $29.13.
Control4 stock opened at $21.72 on Tuesday. The company has a market capitalization of $555.55, a price-to-earnings ratio of 28.96, a P/E/G ratio of 2.52 and a beta of -0.31. Control4 has a twelve month low of $15.13 and a twelve month high of $35.99.
Control4 (NASDAQ:CTRL) last released its quarterly earnings data on Thursday, February 8th. The electronics maker reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The firm had revenue of $68.34 million for the quarter, compared to analyst estimates of $67.21 million. Control4 had a net margin of 6.53% and a return on equity of 12.74%. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. equities research analysts expect that Control4 will post 0.81 earnings per share for the current year.
Control4 declared that its Board of Directors has approved a stock buyback program on Thursday, February 8th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the electronics maker to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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Control4 Corporation (Control4) is a provider of smart home and business solutions. The Company’s smart home and small business solutions provide consumers with the ability to integrate audio, video, lighting, temperature, security, communications, network management and other functionalities into a unified automation solution, customized to match their lifestyles and business needs.
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