Insider Selling: Ruckus Wireless CEO Unloads 25,000 Shares of Stock (RKUS)
Ruckus Wireless (NASDAQ:RKUS) CEO Selina Lo unloaded 25,000 shares of the company’s stock in a transaction that occurred on Thursday, January 9th. The stock was sold at an average price of $15.04, for a total transaction of $376,000.00. Following the sale, the chief executive officer now directly owns 45,000 shares of the company’s stock, valued at approximately $676,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Ruckus Wireless (NASDAQ:RKUS) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.01. The company had revenue of $68.90 million for the quarter, compared to the consensus estimate of $67.81 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 17.6% on a year-over-year basis.
A number of analysts have recently weighed in on RKUS shares. Analysts at Wedbush initiated coverage on shares of Ruckus Wireless in a research note to investors on Tuesday. They set an “outperform” rating and a $18.00 price target on the stock. Separately, analysts at JMP Securities initiated coverage on shares of Ruckus Wireless in a research note to investors on Friday, December 20th. They set a “market perform” rating on the stock. Finally, analysts at Craig Hallum initiated coverage on shares of Ruckus Wireless in a research note to investors on Wednesday, December 11th. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.14.
Ruckus Wireless, Inc (NASDAQ:RKUS) is a provider of Wi-Fi solutions.
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