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Meru Networks (NASDAQ:MERU) SVP Larry Vaughan sold 3,600 shares of Meru Networks stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $3.61, for a total transaction of $12,996.00. Following the sale, the senior vice president now directly owns 52,224 shares of the company’s stock, valued at approximately $188,529. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Separately, analysts at William Blair downgraded shares of Meru Networks from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 29th.

Shares of Meru Networks (NASDAQ:MERU) opened at 3.73 on Tuesday. Meru Networks has a 1-year low of $2.93 and a 1-year high of $5.33. The stock has a 50-day moving average of $3.66 and a 200-day moving average of $4.15. The company’s market cap is $86.6 million.

Meru Networks (NASDAQ:MERU) last released its earnings data on Monday, April 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.04. The company had revenue of $20.60 million for the quarter, compared to the consensus estimate of $22.02 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. Analysts expect that Meru Networks will post $-0.38 EPS for the current fiscal year.

Meru Networks, Inc (NASDAQ:MERU) provides a virtualized wireless local area network (LAN) solution.

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