Insider Selling: Ruckus Wireless CTO Sells 150,000 Shares of Stock (RKUS)
Ruckus Wireless (NASDAQ:RKUS) CTO William S.A. Kish sold 150,000 shares of the company’s stock on the open market in a transaction dated Friday, August 29th. The shares were sold at an average price of $13.90, for a total value of $2,085,000.00. Following the sale, the chief technology officer now directly owns 1,229,721 shares of the company’s stock, valued at approximately $17,093,122. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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 issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Ruckus Wireless currently has an average rating of “Buy” and an average target price of $15.13.
Ruckus Wireless (NASDAQ:RKUS) traded down 0.50% on Friday, hitting $13.91. The stock had a trading volume of 907,761 shares. Ruckus Wireless has a 1-year low of $8.65 and a 1-year high of $18.58. The stock has a 50-day moving average of $12.58 and a 200-day moving average of $11.91. The company has a market cap of $1.151 billion and a price-to-earnings ratio of 466.00.
Ruckus Wireless (NASDAQ:RKUS) last released its earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. On average, analysts predict that Ruckus Wireless will post $0.40 earnings per share for the current fiscal year.
Ruckus Wireless, Inc (NASDAQ:RKUS) is a provider of Wi-Fi solutions.
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