Infinera Corp. (INFN) Insider Sells $731,200.00 in Stock

Infinera Corp. (NASDAQ:INFN) insider David F. Welch sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $9.14, for a total value of $731,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Infinera Corp. (NASDAQ INFN) traded up $0.12 during trading on Wednesday, hitting $9.56. The company’s stock had a trading volume of 1,949,611 shares, compared to its average volume of 2,010,000. Infinera Corp. has a one year low of $6.10 and a one year high of $12.38. The stock has a market cap of $1,430.00, a price-to-earnings ratio of -7.30 and a beta of 1.24.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. Infinera had a negative return on equity of 16.77% and a negative net margin of 26.26%. The company had revenue of $195.82 million for the quarter, compared to analyst estimates of $190.26 million. During the same quarter in the prior year, the company posted ($0.12) EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. equities research analysts expect that Infinera Corp. will post -0.43 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the business. Amalgamated Bank lifted its stake in shares of Infinera by 5.7% during the 2nd quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock worth $196,000 after purchasing an additional 992 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Infinera by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 112,126 shares of the communications equipment provider’s stock worth $1,196,000 after purchasing an additional 2,781 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Infinera by 14.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 39,179 shares of the communications equipment provider’s stock worth $418,000 after purchasing an additional 4,815 shares during the period. Nationwide Fund Advisors lifted its stake in shares of Infinera by 6.6% during the 2nd quarter. Nationwide Fund Advisors now owns 94,256 shares of the communications equipment provider’s stock worth $1,006,000 after purchasing an additional 5,802 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Infinera by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 277,500 shares of the communications equipment provider’s stock worth $2,961,000 after purchasing an additional 6,000 shares during the period. 88.49% of the stock is currently owned by institutional investors.

INFN has been the topic of a number of recent research reports. Nomura reduced their target price on Infinera from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. William Blair reaffirmed an “outperform” rating on shares of Infinera in a research note on Tuesday, February 6th. BidaskClub raised Infinera from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 7th. Zacks Investment Research raised Infinera from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, B. Riley upped their target price on Infinera from $10.75 to $11.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $11.27.

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Infinera 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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