Insider Selling: Aruba Networks Director Sells 3,125 Shares of Stock (ARUN)
Aruba Networks (NASDAQ:ARUN) Director Michael R. Kourey sold 3,125 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $21.10, for a total value of $65,937.50. Following the completion of the sale, the director now directly owns 19,118 shares in the company, valued at approximately $403,390. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Aruba Networks from $27.00 to $28.00 in a research note on Wednesday. Separately, analysts at BMO Capital Markets raised their price target on shares of Aruba Networks from $21.00 to $23.00 in a research note on Wednesday. Finally, analysts at Barclays raised their price target on shares of Aruba Networks from $21.00 to $25.00 in a research note on Wednesday. They now have an “overweight” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $24.90.
Shares of Aruba Networks (NASDAQ:ARUN) traded up 0.80% on Friday, hitting $21.35. 1,133,504 shares of the company’s stock traded hands. Aruba Networks has a 52-week low of $15.97 and a 52-week high of $23.58. The stock’s 50-day moving average is $18.55 and its 200-day moving average is $19.04. The company’s market cap is $2.292 billion.
Aruba Networks (NASDAQ:ARUN) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.01. The company had revenue of $202.90 million for the quarter, compared to the consensus estimate of $194.83 million. During the same quarter last year, the company posted $0.12 earnings per share. Aruba Networks’s revenue was up 32.5% compared to the same quarter last year. On average, analysts predict that Aruba Networks will post $1.10 earnings per share for the current fiscal year.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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