Aruba Networks Insider Dominic P. Orr Sells 5,000 Shares (ARUN)
Aruba Networks (NASDAQ:ARUN) Insider Dominic P. Orr sold 5,000 shares of the stock on the open market in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $17.43, for a total value of $87,150.00. Following the transaction, the insider now directly owns 225,000 shares in the company, valued at approximately $3,921,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on ARUN. 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 investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $27.60.
Aruba Networks (NASDAQ:ARUN) traded down 0.06% on Thursday, hitting $17.48. The stock had a trading volume of 1,132,261 shares. Aruba Networks has a 1-year low of $15.55 and a 1-year high of $23.58. The stock has a 50-day moving average of $18.04 and a 200-day moving average of $19.23. The company’s market cap is $1.901 billion.
Aruba Networks (NASDAQ:ARUN) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $0.20 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.11 earnings per share. Aruba Networks’s revenue was up 28.3% compared to the same quarter last year. On average, analysts predict that Aruba Networks will post $0.76 earnings per share for the current fiscal year.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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