Aruba Networks (NASDAQ:ARUN) CFO Michael Galvin sold 2,133 shares of Aruba Networks stock on the open market in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $17.67, for a total value of $37,690.11. Following the transaction, the chief financial officer now directly owns 262,805 shares in the company. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on ARUN shares. 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 equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $25.54.
Aruba Networks (NASDAQ:ARUN) traded up 0.40% during mid-day trading on Friday, hitting $17.79. 282,124 shares of the company’s stock traded hands. Aruba Networks has a 1-year low of $12.38 and a 1-year 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 $2.032 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. Analysts expect that Aruba Networks will post $0.67 EPS 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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