Insider Selling: David Welch Sells 10,000 Shares of Infinera Corp. Stock (INFN)
Infinera Corp. (NASDAQ:INFN) President David Welch sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $9.72, for a total transaction of $97,200.00. Following the transaction, the president now directly owns 14,132 shares of the company’s stock, valued at approximately $137,363. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Infinera Corp. (NASDAQ:INFN) traded down 0.10% on Thursday, hitting $9.77. 894,775 shares of the company’s stock traded hands. Infinera Corp. has a 52-week low of $5.96 and a 52-week high of $12.16. The stock’s 50-day moving average is $9.20 and its 200-day moving average is $10.46. The company’s market cap is $1.168 billion.
Infinera Corp. (NASDAQ:INFN) last announced its earnings results on Wednesday, October 23rd. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.06. The company had revenue of $142.00 million for the quarter, compared to the consensus estimate of $140.40 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. Analysts expect that Infinera Corp. will post $0.02 EPS for the current fiscal year.
Separately, analysts at FBR Capital Markets initiated coverage on shares of Infinera Corp. in a research note to investors on Thursday, December 19th. They set an “outperform” rating and a $12.50 price target on the stock. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Infinera Corp. presently has a consensus rating of “Buy” and a consensus price target of $12.16.
Infinera Corporation (NASDAQ:INFN) provides optical networking equipment, software and services to communications service providers, Internet content providers, cable operators and subsea network operators (collectively, Service Providers) across the globe.
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