Insider Selling: Polycom SVP Unloads 2,500 Shares of Stock (PLCM)
Polycom (NASDAQ:PLCM) SVP Laura Durr unloaded 2,500 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $11.81, for a total transaction of $29,525.00. Following the transaction, the senior vice president now directly owns 33,681 shares of the company’s stock, valued at approximately $397,773. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Polycom (NASDAQ:PLCM) traded down 0.25% on Wednesday, hitting $12.14. 2,011,393 shares of the company’s stock traded hands. Polycom has a 52 week low of $9.00 and a 52 week high of $12.35. The stock’s 50-day moving average is $11.37 and its 200-day moving average is $10.75. The company’s market cap is $1.639 billion.
Polycom (NASDAQ:PLCM) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.01. The company had revenue of $348.00 million for the quarter, compared to the consensus estimate of $341.62 million. During the same quarter last year, the company posted $0.17 earnings per share. Polycom’s revenue was down 1.4% compared to the same quarter last year. On average, analysts predict that Polycom will post $0.72 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on PLCM shares. Analysts at Citigroup Inc. initiated coverage on shares of Polycom in a research note to investors on Tuesday, December 10th. They set a “neutral” rating on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Polycom in a research note to investors on Tuesday, November 12th. They now have a $11.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $11.00.
Polycom, Inc is a provider of unified communications (NASDAQ:PLCM) solutions and a provider of telepresence, video, voice and infrastructure solutions based on open standards.
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