Aruba Networks Insider Sells $3,482,000 in Stock (ARUN)
Aruba Networks (NASDAQ:ARUN) Insider Dominic P. Orr sold 200,000 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $17.41, for a total value of $3,482,000.00. Following the sale, the insider now directly owns 225,000 shares of the company’s stock, valued at approximately $3,917,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Aruba Networks (NASDAQ:ARUN) traded down 0.39% during mid-day trading on Friday, hitting $17.69. The stock had a trading volume of 1,630,164 shares. Aruba Networks has a 52-week low of $13.91 and a 52-week high of $23.58. The stock’s 50-day moving average is $19.29 and its 200-day moving average is $19.20. The company’s market cap is $1.898 billion.
Aruba Networks (NASDAQ:ARUN) last announced its earnings results on Thursday, May 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $18.80 million for the quarter, compared to the consensus estimate of $180.80 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. Analysts expect that Aruba Networks will post $0.76 EPS for the current fiscal year.
A number of analysts have recently weighed in on ARUN shares. Analysts at Zacks upgraded shares of Aruba Networks from an “underperform” rating to a “neutral” rating in a research note on Friday, May 23rd. They now have a $20.60 price target on the stock. Separately, analysts at Piper Jaffray reiterated an “overweight” rating on shares of Aruba Networks in a research note on Friday, May 23rd. Finally, analysts at Imperial Capital initiated coverage on shares of Aruba Networks in a research note on Monday, May 19th. They set an “outperform” rating and a $23.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.60.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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