Insider Selling: David F. Welch Unloads 10,000 Shares of Infinera Corp. Stock (INFN)
Infinera Corp. (NASDAQ:INFN) President David F. Welch sold 10,000 shares of Infinera Corp. stock on the open market in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $9.03, for a total transaction of $90,300.00. Following the completion of the sale, the president now directly owns 14,132 shares in the company, valued at approximately $127,612. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
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 analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $12.16.
Shares of Infinera Corp. (NASDAQ:INFN) traded down 2.96% on Thursday, hitting $8.86. The stock had a trading volume of 2,453,440 shares. Infinera Corp. has a one year low of $6.06 and a one year high of $12.16. The stock’s 50-day moving average is $9.38 and its 200-day moving average is $10.37. The company’s market cap is $1.059 billion.
Infinera Corp. (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.10 earnings per share for the quarter, beating the analysts’ 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. On average, analysts predict that Infinera Corp. will post $0.02 earnings per share for the current fiscal year.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.