Aruba Networks Insider Sells $3,910,000 in Stock (ARUN)
Aruba Networks (NASDAQ:ARUN) Insider Dominic P. Orr sold 200,000 shares of the company’s stock on the open market in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $19.55, for a total value of $3,910,000.00. Following the sale, the insider now directly owns 250,000 shares in the company, valued at approximately $4,887,500. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on ARUN. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Aruba Networks in a research note to investors on Friday, November 22nd. They now have a $17.00 price target on the stock, up previously from $16.00. Separately, analysts at RBC Capital raised their price target on shares of Aruba Networks from $22.00 to $23.00 in a research note to investors on Friday, November 22nd. Finally, analysts at Wedbush raised their price target on shares of Aruba Networks from $17.00 to $19.00 in a research note to investors on Friday, November 22nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. Aruba Networks presently has a consensus rating of “Hold” and a consensus price target of $25.74.
Shares of Aruba Networks (NASDAQ:ARUN) traded up 0.78% during mid-day trading on Thursday, hitting $20.55. The stock had a trading volume of 2,339,891 shares. 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 $17.74 and its 200-day moving average is $17.79. The company’s market cap is $2.243 billion.
Aruba Networks (NASDAQ:ARUN) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $160.90 million for the quarter, compared to the consensus estimate of $157.50 million. During the same quarter last year, the company posted $0.18 earnings per share. Aruba Networks’s revenue was up 11.3% compared to the same quarter last year. Analysts expect that Aruba Networks will post $0.73 EPS 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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