Insider Selling: Ruckus Wireless CTO Sells 60,000 Shares of Stock (RKUS)
Ruckus Wireless (NASDAQ:RKUS) CTO William S.A. Kish sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $16.98, for a total transaction of $1,018,800.00. Following the transaction, the chief technology officer now directly owns 2,355,000 shares in the company, valued at approximately $39,987,900. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at William Blair reiterated an “outperform” rating on shares of Ruckus Wireless in a research note to investors on Friday, August 16th. Analysts at Needham & Company raised their price target on shares of Ruckus Wireless from $16.00 to $17.00 in a research note to investors on Thursday, August 1st. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $18.50.
Shares of Ruckus Wireless (NASDAQ:RKUS) traded down 1.35% during mid-day trading on Wednesday, hitting $16.05. 1,155,900 shares of the company’s stock traded hands. Ruckus Wireless has a one year low of $10.24 and a one year high of $26.50. The stock’s 50-day moving average is $15.76 and its 200-day moving average is $14.99. The company has a market cap of $1.242 billion and a P/E ratio of 285.44.
Ruckus Wireless (NASDAQ:RKUS) last announced its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.02. The company had revenue of $63.90 million for the quarter, compared to the consensus estimate of $62.00 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 30.9% on a year-over-year basis. Analysts expect that Ruckus Wireless will post $0.18 EPS for the current fiscal year.
Ruckus Wireless, Inc (NASDAQ:RKUS) is a provider of Wi-Fi solutions.
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