Infinera Corporation (NASDAQ:INFN) President David F. Welch sold 20,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $9.29, for a total transaction of $185,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

Infinera Corporation (NASDAQ:INFN) traded down 1.19% on Tuesday, reaching $9.14. 3,016,103 shares of the company traded hands. The stock’s market capitalization is $1.34 billion. Infinera Corporation has a 1-year low of $7.23 and a 1-year high of $12.50. The stock has a 50 day moving average of $11.40 and a 200-day moving average of $10.42.

Infinera Corporation (NASDAQ:INFN) last posted its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.01. Infinera Corporation had a negative net margin of 18.18% and a negative return on equity of 12.25%. The company had revenue of $176.28 million during the quarter, compared to analyst estimates of $181.16 million. During the same period in the previous year, the company earned $0.21 EPS. The company’s quarterly revenue was down 31.9% compared to the same quarter last year. On average, equities analysts anticipate that Infinera Corporation will post ($0.54) EPS for the current year.

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Several equities research analysts have recently weighed in on INFN shares. Zacks Investment Research downgraded shares of Infinera Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Wells Fargo & Company raised shares of Infinera Corporation from a “market perform” rating to an “outperform” rating and increased their target price for the company from $10.00 to $13.00 in a research note on Friday, May 26th. Needham & Company LLC reissued a “strong-buy” rating and issued a $13.50 target price on shares of Infinera Corporation in a research note on Monday, May 8th. TheStreet downgraded shares of Infinera Corporation from a “c-” rating to a “d+” rating in a research note on Monday, May 15th. Finally, Craig Hallum started coverage on shares of Infinera Corporation in a research note on Tuesday, July 18th. They issued a “buy” rating and a $15.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.05.

A number of hedge funds and other institutional investors have recently bought and sold shares of INFN. Vanguard Group Inc. boosted its stake in Infinera Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,415,540 shares of the communications equipment provider’s stock worth $116,781,000 after buying an additional 498,787 shares in the last quarter. BlackRock Inc. boosted its stake in Infinera Corporation by 49,116.0% in the first quarter. BlackRock Inc. now owns 9,575,465 shares of the communications equipment provider’s stock worth $97,957,000 after buying an additional 9,556,009 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Infinera Corporation by 33.4% in the second quarter. Bank of New York Mellon Corp now owns 7,793,110 shares of the communications equipment provider’s stock worth $83,151,000 after buying an additional 1,949,576 shares in the last quarter. Fisher Asset Management LLC bought a new stake in Infinera Corporation during the first quarter worth approximately $52,424,000. Finally, Alliancebernstein L.P. boosted its stake in Infinera Corporation by 4.2% in the first quarter. Alliancebernstein L.P. now owns 5,003,692 shares of the communications equipment provider’s stock worth $51,188,000 after buying an additional 199,889 shares in the last quarter. 81.05% of the stock is currently owned by institutional investors.

Infinera Corporation Company Profile

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

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