Insider Selling: eGain (NASDAQ:EGAN) CFO Sells $72,200.00 in Stock

eGain Corporation (NASDAQ:EGAN) CFO Eric Smit sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $14.44, for a total value of $72,200.00. Following the completion of the sale, the chief financial officer owned 129,187 shares in the company, valued at approximately $1,865,460.28. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Eric Smit also recently made the following trade(s):

• On Friday, October 3rd, Eric Smit sold 15,000 shares of eGain stock. The shares were sold at an average price of $10.00, for a total transaction of $150,000.00.

eGain Stock Performance

Shares of EGAN stock opened at $14.42 on Friday. eGain Corporation has a 52 week low of $4.34 and a 52 week high of $15.55. The company has a market capitalization of $389.61 million, a price-to-earnings ratio of 12.54 and a beta of 0.50. The company has a 50-day simple moving average of $11.09 and a 200 day simple moving average of $7.71.

eGain declared that its Board of Directors has authorized a share buyback program on Thursday, September 4th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 11.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EGAN shares. Zacks Research downgraded eGain from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of eGain in a research report on Tuesday, October 14th. Finally, Wall Street Zen downgraded eGain from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, eGain currently has a consensus rating of “Hold” and an average target price of $10.00.

Institutional Investors Weigh In On eGain

Several hedge funds have recently added to or reduced their stakes in EGAN. Acadian Asset Management LLC raised its position in eGain by 0.7% during the 1st quarter. Acadian Asset Management LLC now owns 980,840 shares of the technology company’s stock worth $4,753,000 after purchasing an additional 6,429 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in eGain by 8.1% during the 1st quarter. Bank of New York Mellon Corp now owns 139,684 shares of the technology company’s stock worth $677,000 after purchasing an additional 10,486 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of eGain by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 449,899 shares of the technology company’s stock valued at $2,812,000 after purchasing an additional 14,978 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of eGain by 51.2% during the third quarter. Ritholtz Wealth Management now owns 47,058 shares of the technology company’s stock worth $410,000 after buying an additional 15,942 shares during the period. Finally, Kanen Wealth Management LLC raised its stake in eGain by 0.6% during the second quarter. Kanen Wealth Management LLC now owns 2,672,710 shares of the technology company’s stock worth $16,704,000 after buying an additional 16,290 shares during the last quarter. 53.94% of the stock is currently owned by institutional investors and hedge funds.

About eGain

eGain Corporation develops, licenses, implements, and supports customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific. It provides eGain Knowledge Hub, which helps businesses to centralize knowledge, policies, procedures, situational expertise, best-practices, while delivering guided, and personalized solutions to customers and agents; eGain Conversation Hub for digital-first, omnichannel interaction management within a modern, purpose-built desktop; and eGain Analytics Hub enables clients to measure, manage, and optimize omnichannel service operations and knowledge.