Insider Selling: Eitan Gertel Unloads 20,266 Shares of Finisar Corp. Stock (FNSR)
Finisar Corp. (NASDAQ:FNSR) CEO Eitan Gertel sold 20,266 shares of Finisar Corp. stock on the open market in a transaction dated Thursday, February 20th. The stock was sold at an average price of $25.00, for a total transaction of $506,650.00. Following the transaction, the chief executive officer now directly owns 604,868 shares in the company, valued at approximately $15,121,700. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Finisar Corp. (NASDAQ:FNSR) traded down 4.64% on Monday, hitting $23.40. 4,951,830 shares of the company’s stock traded hands. Finisar Corp. has a 52 week low of $12.17 and a 52 week high of $26.66. The stock’s 50-day moving average is $23.40 and its 200-day moving average is $22.80. The company has a market cap of $2.249 billion and a P/E ratio of 42.16.
Finisar Corp. (NASDAQ:FNSR) last announced its earnings results on Thursday, December 5th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.13. The company had revenue of $290.72 million for the quarter, compared to the consensus estimate of $263.15 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. Analysts expect that Finisar Corp. will post $1.59 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Jefferies Group upgraded shares of Finisar Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, February 11th. They now have a $30.00 price target on the stock, up previously from $24.00. Separately, analysts at Zacks downgraded shares of Finisar Corp. from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 5th. They now have a $26.70 price target on the stock. Finally, analysts at Raymond James upgraded shares of Finisar Corp. from an “outperform” rating to a “strong-buy” rating in a research note on Friday, January 3rd. They now have a $29.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $26.64.
Finisar Corporation develops and provides fiber optic subsystems and network performance test systems which enable data communications over local area networks, or LANs, and storage area networks, or SANs.
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