Michael L. Perica Sells 7,837 Shares of Rimini Street, Inc. (NASDAQ:RMNI) Stock

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael L. Perica sold 7,837 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $2.79, for a total value of $21,865.23. Following the sale, the chief financial officer now directly owns 163,090 shares of the company’s stock, valued at $455,021.10. This represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Rimini Street Stock Performance

NASDAQ:RMNI opened at $2.85 on Friday. Rimini Street, Inc. has a 12-month low of $1.53 and a 12-month high of $3.36. The stock’s fifty day simple moving average is $2.60 and its 200-day simple moving average is $2.17.

Analysts Set New Price Targets

Separately, Craig Hallum upgraded shares of Rimini Street from a “hold” rating to a “buy” rating and lifted their price target for the stock from $2.00 to $6.00 in a research report on Tuesday, December 17th.

Hedge Funds Weigh In On Rimini Street

Several hedge funds have recently added to or reduced their stakes in RMNI. SG Americas Securities LLC increased its stake in shares of Rimini Street by 60.7% in the 3rd quarter. SG Americas Securities LLC now owns 18,289 shares of the company’s stock valued at $34,000 after acquiring an additional 6,905 shares during the last quarter. Virtu Financial LLC bought a new stake in Rimini Street in the third quarter valued at approximately $58,000. Ruane Cunniff & Goldfarb L.P. increased its stake in Rimini Street by 34.3% in the third quarter. Ruane Cunniff & Goldfarb L.P. now owns 38,090 shares of the company’s stock valued at $70,000 after purchasing an additional 9,719 shares in the last quarter. Gladius Capital Management LP boosted its position in shares of Rimini Street by 201.2% during the third quarter. Gladius Capital Management LP now owns 56,018 shares of the company’s stock worth $104,000 after purchasing an additional 37,418 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Rimini Street by 281.6% during the third quarter. Barclays PLC now owns 70,291 shares of the company’s stock worth $130,000 after purchasing an additional 51,870 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Rimini Street Company Profile

Rimini Street, Inc provides enterprise software products, services, and support. The company engages in the provision of support services for Oracle and SAP enterprise software products. It also provides Rimini ONE, an outsourcing option that offers a set of unified and integrated services to run, manage, support, customize, configure, connect, protect, monitor, and optimize its clients’ application, database, and technology enterprise software; Rimini Support, a mission-critical support for Oracle, SAP, proprietary and open-source database, and technology software; Rimini Manage, a suite of managed services for application and database software; Rimini Protect, a suite of personalized software security services and solutions; and Rimini Connect, a suite of managed interoperability solutions for browsers, operating systems, and email systems.