Dallas, Texas 02/26/2014 (FINANCIALSTRENDS) – Aruba Networks, Inc.(NASDAQ:ARUN) the high net worth CA-based networking company with a difference has some financial status reporting for the day. The company which is known for the technology-edge its networking solutions provide over the peer group has seen some insider trading recently, as per SEC filing reports. This has also led to some rating changes and research notes, coverage by analysts.
Director sells shares
For Aruba Networks, Inc.(NASDAQ:ARUN), first the insider trading news. It was Director MichealR.Kourey who sold over 3,125 shares on Feb 24. The price he commanded per share was $20.69, while the value of the transaction was $64, 656.25. Through this sale the director’s ownership is of 19,118 shares of the stock of the company. The value of this ownership is priced at $395, 551. The company also noted the sale of these shares in its SEC filing.
Following the sales by insiders Aruba Networks, Inc.(NASDAQ:ARUN) saw revision in the ratings by analysts.
Rating changes
Aruba Networks, Inc.(NASDAQ:ARUN) received weightage by analysts. The average has been $0.76 per share for the present financial year for the stock.
Aruba Networks, Inc.(NASDAQ:ARUN) has seen analysts of the likes of Barclays raise the target price to $25 form previous of $21. The analyst provided the upgrade on a research note. The company has also received ‘overweight’ rating by Deutsche Bank. The company has reportedly raised the price target for this company from $17.00 to $19.00 as well.
The company also received a note from Jefferies Group, where it saw a raise in EPS. This group too reported a hold rating and revised the price target to $22.50 for the stock. Accordingly, another investment analyst also rated the stock as ‘Hold’. The average consensus is now at ‘Hold’ and the consensus price target is $26.93. Fourteen analysts have rated the stock as Hold, while over eleven have set the rating at Buy for the company.
