Insider Selling: Cisco Systems EVP Sells 90,000 Shares of Stock (CSCO)
Cisco Systems (NASDAQ:CSCO) EVP Wim Elfrink unloaded 90,000 shares of Cisco Systems stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $24.69, for a total value of $2,222,100.00. Following the completion of the sale, the executive vice president now directly owns 246,133 shares of the company’s stock, valued at approximately $6,077,024. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
CSCO has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, August 14th. They now have a $26.00 price target on the stock. Separately, analysts at Sterne Agee raised their price target on shares of Cisco Systems from $26.00 to $28.00 in a research note on Thursday, August 14th. They now have a “buy” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Cisco Systems from $30.00 to $33.00 in a research note on Thursday, August 14th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.60.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.73% on Thursday, hitting $24.89. 20,881,828 shares of the company’s stock traded hands. Cisco Systems has a 52-week low of $20.22 and a 52-week high of $26.08. The stock’s 50-day moving average is $25.30 and its 200-day moving average is $23.6. The company has a market cap of $127.5 billion and a P/E ratio of 16.58.
Cisco Systems (NASDAQ:CSCO) last released its earnings data on Wednesday, August 13th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.53 by $0.02. The company had revenue of $12.40 million for the quarter, compared to the consensus estimate of $12.14 billion. Analysts expect that Cisco Systems will post $2.16 EPS for the current fiscal year.
Cisco Systems, Inc (NASDAQ:CSCO) designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.
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