Insider Selling: RPX Corp. Director Sells 9,366 Shares of Stock (RPXC)
RPX Corp. (NASDAQ:RPXC) Director Geoffrey T. Barker unloaded 9,366 shares of the company’s stock on the open market in a transaction dated Thursday, May 29th. The shares were sold at an average price of $16.47, for a total transaction of $154,258.02. Following the sale, the director now directly owns 369,399 shares of the company’s stock, valued at approximately $6,084,002. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of RPX Corp. (NASDAQ:RPXC) traded down 1.22% on Friday, hitting $16.25. 283,959 shares of the company’s stock traded hands. RPX Corp. has a 52 week low of $14.44 and a 52 week high of $19.88. The stock has a 50-day moving average of $16.40 and a 200-day moving average of $16.42. The company has a market cap of $861.4 million and a P/E ratio of 24.85.
RPX Corp. (NASDAQ:RPXC) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.01. The company had revenue of $61.90 million for the quarter, compared to the consensus estimate of $62.20 million. During the same quarter last year, the company posted $0.28 earnings per share. RPX Corp.’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that RPX Corp. will post $1.02 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on RPXC shares. Analysts at TheStreet upgraded shares of RPX Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Separately, analysts at Zacks upgraded shares of RPX Corp. from an “underperform” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $16.70 price target on the stock. Finally, analysts at Cowen and Company initiated coverage on shares of RPX Corp. in a research note on Monday, March 17th. They set an “outperform” rating and a $20.00 price target on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $19.68.
RPX Corporation (NASDAQ:RPXC) provides patent risk management solutions, offering defensive buying, acquisition syndication, patent intelligence and advisory services.
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