Ribbon Communications Inc. (NASDAQ:RBBN) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in shares of Ribbon Communications Inc. (NASDAQ:RBBN) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,747 shares of the communications equipment provider’s stock after selling 4,466 shares during the quarter. California State Teachers Retirement System’s holdings in Ribbon Communications were worth $300,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brandes Investment Partners LP lifted its position in shares of Ribbon Communications by 43.4% in the fourth quarter. Brandes Investment Partners LP now owns 640,945 shares of the communications equipment provider’s stock valued at $1,859,000 after acquiring an additional 193,829 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in Ribbon Communications in the 4th quarter valued at about $296,000. Bailard Inc. purchased a new position in Ribbon Communications in the 4th quarter valued at about $257,000. Victory Capital Management Inc. boosted its stake in shares of Ribbon Communications by 29.3% during the 4th quarter. Victory Capital Management Inc. now owns 295,103 shares of the communications equipment provider’s stock worth $856,000 after purchasing an additional 66,949 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Ribbon Communications by 30.1% during the 1st quarter. GSA Capital Partners LLP now owns 245,543 shares of the communications equipment provider’s stock worth $786,000 after purchasing an additional 56,829 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Ribbon Communications Trading Up 2.9 %

Shares of RBBN stock opened at $3.20 on Monday. The firm’s 50-day simple moving average is $3.24 and its 200-day simple moving average is $3.12. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.48 and a quick ratio of 1.19. Ribbon Communications Inc. has a 1-year low of $1.78 and a 1-year high of $3.95. The firm has a market cap of $556.51 million, a P/E ratio of -9.14 and a beta of 1.08.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $192.62 million for the quarter, compared to analyst estimates of $203.05 million. Ribbon Communications had a positive return on equity of 5.32% and a negative net margin of 6.68%. During the same period last year, the company posted $0.01 EPS. As a group, equities analysts forecast that Ribbon Communications Inc. will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RBBN shares. B. Riley upped their price objective on shares of Ribbon Communications from $6.00 to $6.50 and gave the company a “buy” rating in a research note on Thursday, April 25th. Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 price target on shares of Ribbon Communications in a report on Thursday, July 25th. Finally, JMP Securities assumed coverage on Ribbon Communications in a report on Monday, April 29th. They set a “mkt outperform” rating and a $6.00 price objective on the stock.

About Ribbon Communications

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.