Riverbed Technology Director Sells $340,535 in Stock (RVBD)
Riverbed Technology (NASDAQ:RVBD) Director Michael Boustridge unloaded 16,900 shares of the stock on the open market in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $20.15, for a total value of $340,535.00. Following the completion of the sale, the director now directly owns 13,300 shares of the company’s stock, valued at approximately $267,995. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Riverbed Technology (NASDAQ:RVBD) traded up 1.00% during mid-day trading on Thursday, hitting $20.26. 1,183,053 shares of the company’s stock traded hands. Riverbed Technology has a 52 week low of $13.77 and a 52 week high of $22.76. The stock has a 50-day moving average of $19.43 and a 200-day moving average of $19.18. The company’s market cap is $3.253 billion.
Riverbed Technology (NASDAQ:RVBD) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.01. The company had revenue of $265.40 million for the quarter, compared to the consensus estimate of $265.79 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts expect that Riverbed Technology will post $1.17 EPS for the current fiscal year.
A number of research firms have recently commented on RVBD. Analysts at MKM Partners raised their price target on shares of Riverbed Technology from $20.00 to $21.00 in a research note on Wednesday, April 30th. Separately, analysts at RBC Capital raised their price target on shares of Riverbed Technology from $19.00 to $20.00 in a research note on Wednesday, April 30th. They now have a “sector perform” rating on the stock. Finally, analysts at Piper Jaffray raised their price target on shares of Riverbed Technology from $19.00 to $20.00 in a research note on Wednesday, April 30th. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $18.23.
Riverbed Technology, Inc (NASDAQ:RVBD) has developed solutions to the fundamental problems associated with information technology (IT) performance across wide area networks (WANs).
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