Insider Selling: Dominic P. Orr Unloads 5,000 Shares of Aruba Networks Stock (ARUN)
Aruba Networks (NASDAQ:ARUN) Insider Dominic P. Orr unloaded 5,000 shares of the company’s stock on the open market in a transaction dated Friday, June 6th. The stock was sold at an average price of $17.84, for a total value of $89,200.00. Following the completion of the sale, the insider now directly owns 225,000 shares in the company, valued at approximately $4,014,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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 equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Aruba Networks presently has an average rating of “Hold” and a consensus price target of $27.60.
Shares of Aruba Networks (NASDAQ:ARUN) traded down 0.37% on Tuesday, hitting $17.595. The stock had a trading volume of 852,435 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 $19.1 and its 200-day moving average is $19.25. The company’s market cap is $1.913 billion.
Aruba Networks (NASDAQ:ARUN) last released its earnings data on Thursday, May 22nd. The company reported $0.20 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue 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.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.