Cisco Systems CMO Katherine Blair Christie Unloads 68,311 Shares (CSCO)
Cisco Systems (NASDAQ:CSCO) CMO Katherine Blair Christie unloaded 68,311 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $24.95, for a total transaction of $1,704,359.45. Following the completion of the sale, the chief marketing officer now directly owns 280,739 shares in the company, valued at approximately $7,004,438. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.16% on Wednesday, hitting $25.04. 36,173,952 shares of the company’s stock traded hands. Cisco Systems has a one year low of $20.22 and a one year high of $26.49. The stock’s 50-day moving average is $23.87 and its 200-day moving average is $22.50. The company has a market cap of $128.3 billion and a price-to-earnings ratio of 16.87. Cisco Systems also saw a significant decrease in short interest in May. As of May 30th, there was short interest totalling 65,847,388 shares, a decrease of 13.0% from the May 15th total of 75,663,677 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily volume of 36,898,009 shares, the days-to-cover ratio is presently 1.8 days.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The company reported $0.51 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.03. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same quarter last year, the company posted $0.51 earnings per share. Cisco Systems’s revenue was down 5.5% compared to the same quarter last year. On average, analysts predict that Cisco Systems will post $2.04 earnings per share for the current fiscal year.
A number of research firms have recently commented on CSCO. Analysts at Deutsche Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, May 27th. They now have a $30.00 price target on the stock, up previously from $25.00. Separately, analysts at ISI Group reiterated a “buy” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. They now have a $28.00 price target on the stock, up previously from $25.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Cisco Systems from $25.00 to $28.00 in a research note on Wednesday, May 21st. They now have a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and an average price target of $26.20.
Cisco Systems, Inc (NASDAQ:CSCO) designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.
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