Insider Selling: Red Violet (NASDAQ:RDVT) Insider Sells 1,456 Shares of Stock

Red Violet insider Jeffrey Alan Dell sold 1,456 shares at $57.81 each, totaling $84,171.36. This reduced his position by 0.90%. The sale was disclosed in an SEC filing. Dell also sold shares on November 10th, 12th, and 13th. Red Violet's stock traded down 0.8% to $57.51. The company reported strong quarterly earnings, beating estimates. Institutional investors have increased their positions, and analysts have set new price targets, with some upgrading the stock to a "buy" rating.

Red Violet, Inc. (NASDAQ:RDVT - Get Free Report) insider Jeffrey Alan Dell sold 1,456 shares of Red Violet stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $57.81, for a total transaction of $84,171.36. Following the completion of the transaction, the insider directly owned 159,807 shares of the company's stock, valued at approximately $9,238,442.67. This trade represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Jeffrey Alan Dell also recently made the following trade(s):

On Thursday, November 13th, Jeffrey Alan Dell sold 1,140 shares of Red Violet stock. The stock was sold at an average price of $56.95, for a total value of $64,923.00.
On Wednesday, November 12th, Jeffrey Alan Dell sold 2,733 shares of Red Violet stock. The shares were sold at an average price of $57.85, for a total value of $158,104.05.
On Monday, November 10th, Jeffrey Alan Dell sold 4,671 shares of Red Violet stock. The stock was sold at an average price of $58.11, for a total value of $271,431.81.

Red Violet Trading Down 0.8%

Shares of NASDAQ:RDVT traded down $0.47 on Thursday, hitting $57.51. The company had a trading volume of 55,214 shares, compared to its average volume of 97,955. The stock has a market cap of $803.41 million, a price-to-earnings ratio of 74.69 and a beta of 1.76. The stock has a 50 day moving average price of $52.56 and a 200 day moving average price of $48.52. Red Violet, Inc. has a 1-year low of $32.23 and a 1-year high of $64.14.

Red Violet (NASDAQ:RDVT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.07. The business had revenue of $23.08 million for the quarter, compared to analyst estimates of $22.64 million. Red Violet had a net margin of 12.96% and a return on equity of 12.26%. Sell-side analysts anticipate that Red Violet, Inc. will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Red Violet

Hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its stake in shares of Red Violet by 3,125.0% in the first quarter. Nisa Investment Advisors LLC now owns 1,032 shares of the company's stock valued at $39,000 after buying an additional 1,000 shares during the period. New York State Common Retirement Fund increased its position in Red Violet by 2,428.0% during the 1st quarter. New York State Common Retirement Fund now owns 106,024 shares of the company's stock valued at $3,985,000 after purchasing an additional 101,830 shares during the period. CWM LLC raised its holdings in Red Violet by 5,900.0% during the 1st quarter. CWM LLC now owns 17,640 shares of the company's stock worth $663,000 after purchasing an additional 17,346 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Red Violet by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 615,948 shares of the company's stock worth $23,153,000 after purchasing an additional 7,396 shares during the period. Finally, Bard Associates Inc. boosted its stake in shares of Red Violet by 6.7% in the 1st quarter. Bard Associates Inc. now owns 8,822 shares of the company's stock valued at $332,000 after purchasing an additional 554 shares during the last quarter. 63.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on RDVT shares. B. Riley increased their price objective on Red Violet from $52.00 to $62.00 and gave the stock a "buy" rating in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Red Violet from a "hold" rating to a "strong-buy" rating in a research report on Sunday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Red Violet in a report on Wednesday, October 8th. Finally, Lake Street Capital reiterated a "buy" rating and issued a $62.00 price target on shares of Red Violet in a research note on Thursday, November 6th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $62.00.

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Red Violet Company Profile

(Get Free Report)

Red Violet, Inc, a software and services company, specializes in proprietary technologies and applying analytical capabilities to deliver identity intelligence in the United States. It offers idiCORE, an investigative solution used to address various organizational challenges, which include due diligence, risk mitigation, identity authentication, fraud detection and prevention, customer acquisition, and regulatory compliance; and FOREWARN, an app-based solution that provides instant knowledge before face-to-face engagement with a consumer, as well as helps professionals to identify and mitigate risk.

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