Insider Selling: ARRIS Group CFO Sells 29,196 Shares of Stock (ARRS)
ARRIS Group (NASDAQ:ARRS) CFO David Potts sold 29,196 shares of ARRIS Group stock on the open market in a transaction dated Monday, February 3rd. The stock was sold at an average price of $25.52, for a total transaction of $745,081.92. Following the completion of the transaction, the chief financial officer now directly owns 15,000 shares in the company, valued at approximately $382,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of ARRIS Group (NASDAQ:ARRS) traded up 1.35% during mid-day trading on Tuesday, hitting $25.50. The stock had a trading volume of 281,591 shares. ARRIS Group has a 1-year low of $14.07 and a 1-year high of $27.83. The stock’s 50-day moving average is $24.64 and its 200-day moving average is $18.84. The company’s market cap is $3.527 billion.
A number of analysts have recently weighed in on ARRS shares. Analysts at Stephens downgraded shares of ARRIS Group from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, January 23rd. They now have a $28.00 price target on the stock. Separately, analysts at Raymond James raised their price target on shares of ARRIS Group to $31.50 in a research note to investors on Friday, January 17th. Finally, analysts at National Alliance Securities initiated coverage on shares of ARRIS Group in a research note to investors on Tuesday, January 14th. They set a “buy” rating and a $30.00 price target on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $25.64.
ARRIS Group, Inc (NASDAQ:ARRS) is a global communications technology company.
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