Ruckus Wireless CTO Unloads $1,923,000 in Stock (RKUS)
Ruckus Wireless (NASDAQ:RKUS) CTO William S.A. Kish sold 150,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $17,688,023. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Ruckus Wireless (NASDAQ:RKUS) traded down 0.08% during mid-day trading on Friday, hitting $12.82. The stock had a trading volume of 720,400 shares. 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 $12.09 and its 200-day moving average is $11.87. The company has a market cap of $1.061 billion and a price-to-earnings ratio of 427.67.
Ruckus Wireless (NASDAQ:RKUS) last announced its 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 last year, the company posted $0.05 earnings per share. Ruckus Wireless’s revenue was up 26.8% compared to the same quarter last year. On average, analysts predict that Ruckus Wireless will post $0.40 earnings per share for the current fiscal year.
RKUS has been the subject of a number of recent research reports. 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 investment analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Ruckus Wireless presently has a consensus rating of “Buy” and a consensus target price of $15.13.
Ruckus Wireless, Inc (NASDAQ:RKUS) is a provider of Wi-Fi solutions.
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