Rosenblatt Securities Keeps Their Sell Rating on Apple (AAPL)

By Austin Angelo

In a report released today, Jun Zhang from Rosenblatt Securities maintained a Sell rating on Apple (AAPLResearch Report), with a price target of $150.00. The company’s shares closed last Monday at $270.71, close to its 52-week high of $271.00.

According to TipRanks.com, Zhang is a 4-star analyst with an average return of 8.3% and a 61.8% success rate. Zhang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Lumentum Holdings, and Viavi Solutions.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Apple with a $255.06 average price target, which is a -4.6% downside from current levels. In a report issued on December 4, Maxim Group also downgraded the stock to Sell with a $190.00 price target.

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Based on Apple’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $63.94 billion and net profit of $13.69 billion. In comparison, last year the company earned revenue of $62.68 billion and had a net profit of $14.13 billion.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAPL in relation to earlier this year. Last month, Arthur Levinson, a Director at AAPL sold 37,394 shares for a total of $9,639,799.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.