Aruba Networks CTO Unloads $259,395 in Stock (ARUN)
Aruba Networks (NASDAQ:ARUN) CTO Keerti Melkote sold 14,730 shares of Aruba Networks stock on the open market in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $17.61, for a total transaction of $259,395.30. Following the sale, the chief technology officer now directly owns 105,813 shares of the company’s stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on ARUN shares. Analysts at Piper Jaffray Cos. initiated coverage on shares of Aruba Networks (NASDAQ:ARUN) in a research note to investors on Tuesday. They set an “overweight” rating and a $26.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Aruba Networks (NASDAQ:ARUN) from $17.00 to $18.00 in a research note to investors on Friday, August 23rd. They now have a “neutral” rating on the stock. Finally, analysts at Pacific Crest raised their price target on shares of Aruba Networks (NASDAQ:ARUN) from $18.00 to $20.00 in a research note to investors on Friday, August 23rd. They now have an “outperform” rating on the stock.
One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have given a buy rating to the company’s stock. Aruba Networks currently has a consensus rating of “Hold” and a consensus target price of $25.54.
Shares of Aruba Networks (NASDAQ:ARUN) traded down 2.43% on Thursday, hitting $17.719. 2,053,724 shares of the company’s stock traded hands. Aruba Networks has a 52-week low of $12.38 and a 52-week high of $26.78. The stock’s 50-day moving average is $17.85 and its 200-day moving average is $18.87. The company’s market cap is $2.024 billion.
Aruba Networks (NASDAQ:ARUN) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.01. The company had revenue of $153.10 million for the quarter, compared to the consensus estimate of $149.33 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Aruba Networks will post $0.67 earnings per share for the current fiscal year.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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