Aruba Networks (NASDAQ:ARUN) CTO Keerti Melkote sold 14,730 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $17.61, for a total transaction of $259,395.30. Following the completion of the sale, the chief technology officer now directly owns 105,813 shares of the company’s stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Piper Jaffray Cos. initiated coverage on shares of Aruba Networks (NASDAQ:ARUN) in a research note to investors on Tuesday. They set an “overweight” rating and a $26.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Aruba Networks (NASDAQ:ARUN) from $17.00 to $18.00 in a research note to investors on Friday, August 23rd. They now have a “neutral” rating on the stock. Finally, analysts at Pacific Crest raised their price target on shares of Aruba Networks (NASDAQ:ARUN) from $18.00 to $20.00 in a research note to investors on Friday, August 23rd. They now have an “outperform” rating on the stock.
One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have given a buy rating to the stock. Aruba Networks currently has a consensus rating of “Hold” and an average target price of $25.54.
Shares of Aruba Networks (NASDAQ:ARUN) traded up 0.46% during mid-day trading on Friday, hitting $17.80. The stock had a trading volume of 260,921 shares. Aruba Networks has a 52 week low of $12.38 and a 52 week high of $26.78. The stock’s 50-day moving average is $17.85 and its 200-day moving average is $18.86. The company’s market cap is $2.033 billion.
Aruba Networks (NASDAQ:ARUN) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.11 by $0.01. The company had revenue of $153.10 million for the quarter, compared to the consensus estimate of $149.33 million. During the same quarter last year, the company posted $0.18 earnings per share. Aruba Networks’s revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that Aruba Networks will post $0.67 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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