Aruba Networks Insider Dominic P. Orr Unloads 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 that occurred on Tuesday, August 12th. The stock was sold at an average price of $18.50, for a total value of $92,500.00. Following the transaction, the insider now directly owns 200,000 shares in the company, valued at approximately $3,700,000. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Aruba Networks (NASDAQ:ARUN) traded up 2.00% during mid-day trading on Thursday, hitting $19.36. The stock had a trading volume of 1,180,983 shares. Aruba Networks has a 52 week low of $15.97 and a 52 week high of $23.58. The stock has a 50-day moving average of $17.69 and a 200-day moving average of $19.03. The company’s market cap is $2.105 billion. Aruba Networks also was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 12,372,722 shares, a drop of 7.5% from the July 15th total of 13,372,123 shares. Based on an average trading volume of 1,583,909 shares, the days-to-cover ratio is presently 7.8 days. Currently, 11.8% of the company’s shares are short sold.
Aruba Networks (NASDAQ:ARUN) last released its earnings data on Thursday, May 22nd. The company reported $0.20 earnings per share 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. On average, analysts predict that Aruba Networks will post $0.76 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus upgraded shares of Aruba Networks from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a $24.00 price target on the stock. Separately, analysts at Buckingham Research initiated coverage on shares of Aruba Networks in a research note on Wednesday, July 16th. They set a “neutral” rating and a $19.00 price target on the stock. Finally, analysts at Macquarie upgraded shares of Aruba Networks from a “neutral” rating to an “outperform” rating in a research note on Monday, July 14th. They now have a $24.00 price target on the stock, up previously from $22.00. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $27.54.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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