Insider Selling: Larry Vaughan Unloads 16,462 Shares of Meru Networks Stock (MERU)
Meru Networks (NASDAQ:MERU) SVP Larry Vaughan sold 16,462 shares of the stock on the open market in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $4.17, for a total transaction of $68,646.54. Following the transaction, the senior vice president now directly owns 82,101 shares of the company’s stock, valued at approximately $342,361. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Meru Networks (NASDAQ:MERU) traded up 0.48% on Tuesday, hitting $4.19. 68,395 shares of the company’s stock traded hands. Meru Networks has a one year low of $2.93 and a one year high of $6.96. The stock has a 50-day moving average of $4. and a 200-day moving average of $3.71. The company’s market cap is $95.5 million.
Meru Networks (NASDAQ:MERU) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.06) by $0.31. The company had revenue of $30.20 million for the quarter, compared to the consensus estimate of $27.04 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts predict that Meru Networks will post $-0.15 earnings per share for the current fiscal year.
Separately, analysts at Bank of America reiterated an “underperform” rating on shares of Meru Networks in a research note on Tuesday, February 11th. They now have a $2.75 price target on the stock, down previously from $3.25.
Meru Networks, Inc (NASDAQ:MERU) provides a virtualized wireless local area network (LAN) solution.
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