Millrace Asset Group Inc. Buys Shares of 52,156 Medallia, Inc. (NYSE:MDLA)

Millrace Asset Group Inc. bought a new stake in shares of Medallia, Inc. (NYSE:MDLA) during the 2nd quarter, HoldingsChannel reports. The firm bought 52,156 shares of the company’s stock, valued at approximately $1,760,000.

A number of other institutional investors and hedge funds have also modified their holdings of MDLA. Dimensional Fund Advisors LP lifted its holdings in shares of Medallia by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,361 shares of the company’s stock valued at $411,000 after buying an additional 445 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Medallia by 26.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 60,198 shares of the company’s stock valued at $1,679,000 after buying an additional 12,423 shares during the period. Arizona State Retirement System lifted its holdings in shares of Medallia by 4.6% during the 1st quarter. Arizona State Retirement System now owns 23,549 shares of the company’s stock valued at $657,000 after buying an additional 1,039 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Medallia by 6.6% during the 1st quarter. Fifth Third Bancorp now owns 10,510 shares of the company’s stock valued at $293,000 after buying an additional 651 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Medallia by 5.3% during the 1st quarter. Swiss National Bank now owns 184,800 shares of the company’s stock valued at $5,154,000 after buying an additional 9,300 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

MDLA has been the topic of a number of recent research reports. Citigroup cut Medallia from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $50.00 to $34.00 in a report on Tuesday, July 27th. Truist Financial cut Medallia to a “hold” rating and set a $34.00 target price on the stock. in a report on Monday, August 9th. Truist Securities cut Medallia from a “buy” rating to a “hold” rating and set a $34.00 target price on the stock. in a report on Monday, August 9th. Berenberg Bank reaffirmed a “hold” rating and issued a $33.59 target price (up from $33.00) on shares of Medallia in a report on Monday, July 26th. Finally, Robert W. Baird cut Medallia from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $32.00 to $34.00 in a report on Thursday, August 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.75.

In related news, CEO Leslie Stretch sold 100,000 shares of Medallia stock in a transaction dated Thursday, June 24th. The stock was sold at an average price of $33.40, for a total value of $3,340,000.00. Following the completion of the transaction, the chief executive officer now owns 867,445 shares in the company, valued at $28,972,663. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mikael J. Ottosson sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $31.36, for a total transaction of $2,352,000.00. Following the completion of the sale, the executive vice president now directly owns 230,856 shares of the company’s stock, valued at approximately $7,239,644.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 308,346 shares of company stock valued at $10,040,022. Company insiders own 18.60% of the company’s stock.

Shares of Medallia stock traded down $0.02 during trading on Tuesday, reaching $33.85. 21,055 shares of the stock traded hands, compared to its average volume of 2,267,129. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of -26.65 and a beta of 1.54. The business has a fifty day simple moving average of $33.43 and a two-hundred day simple moving average of $30.58. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.84 and a quick ratio of 1.84. Medallia, Inc. has a 52-week low of $23.58 and a 52-week high of $48.28.

Medallia (NYSE:MDLA) last issued its quarterly earnings data on Wednesday, September 1st. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). The firm had revenue of $144.10 million for the quarter, compared to analysts’ expectations of $138.16 million. Medallia had a negative net margin of 37.34% and a negative return on equity of 30.58%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. On average, research analysts predict that Medallia, Inc. will post -0.84 earnings per share for the current fiscal year.

Medallia Profile

Medallia, Inc engages in the provision of customer experience management software. Its products include surveys, CX profiles, CX journeys, action intelligence, and alerts and reporting. The firm also offers CX professionals, EX professionals, account management, contact centers, location-based operations, and research and insights solutions.

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Institutional Ownership by Quarter for Medallia (NYSE:MDLA)

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