Cisco Systems EVP Wim Elfrink Unloads 25,000 Shares (CSCO)
Cisco Systems (NASDAQ:CSCO) EVP Wim Elfrink sold 25,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $24.94, for a total value of $623,500.00. Following the transaction, the executive vice president now directly owns 246,133 shares in the company, valued at approximately $6,138,557. The transaction was disclosed in a filing with the SEC, which is available at 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 analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty have assigned a buy rating to the company. Cisco Systems presently has an average rating of “Hold” and a consensus price target of $26.60.
Cisco Systems (NASDAQ:CSCO) traded down 0.96% on Friday, hitting $24.65. 22,450,680 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 has a 50-day moving average of $25.30 and a 200-day moving average of $23.6. The company has a market cap of $126.2 billion and a price-to-earnings ratio of 16.70.
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. On average, analysts predict that Cisco Systems will post $2.16 earnings per share 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.