Ruckus Wireless CTO Unloads $1,923,000 in Stock (RKUS)
Ruckus Wireless (NASDAQ:RKUS) CTO William S.A. Kish sold 150,000 shares of Ruckus Wireless stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $12.82, for a total value of $1,923,000.00. Following the transaction, the chief technology officer now directly owns 1,379,721 shares in the company, valued at approximately $17,688,023. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on RKUS shares. Analysts at Piper Jaffray raised their price target on shares of Ruckus Wireless from $14.00 to $17.00 in a research note on Thursday, July 31st. They now have an “overweight” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Ruckus Wireless from $13.00 to $17.00 in a research note on Thursday, July 31st. They now have an “outperform” rating on the stock. Finally, analysts at Craig Hallum reiterated a “buy” rating on shares of Ruckus Wireless in a research note on Thursday, July 31st. They now have a $20.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Ruckus Wireless currently has a consensus rating of “Buy” and a consensus price target of $15.13.
Shares of Ruckus Wireless (NASDAQ:RKUS) traded down 0.08% on Friday, hitting $12.82. 720,400 shares of the company’s stock traded hands. Ruckus Wireless has a 52 week low of $8.65 and a 52 week high of $18.58. The stock’s 50-day moving average is $12.06 and its 200-day moving average is $11.8. The company has a market cap of $1.061 billion and a P/E ratio of 427.67.
Ruckus Wireless (NASDAQ:RKUS) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.06. The company had revenue of $81.00 million for the quarter, compared to the consensus estimate of $79.40 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 26.8% on a year-over-year basis. Analysts expect that Ruckus Wireless will post $0.40 EPS for the current fiscal year.
Ruckus Wireless, Inc (NASDAQ:RKUS) is a provider of Wi-Fi solutions.
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