Eugenia Corrales Sells 7,040 Shares of ShoreTel Inc. (SHOR) Stock
ShoreTel Inc. (NASDAQ:SHOR) VP Eugenia Corrales sold 7,040 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $6.49, for a total value of $45,689.60. Following the transaction, the vice president now owns 1,109 shares in the company, valued at approximately $7,197.41. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of ShoreTel Inc. (NASDAQ:SHOR) opened at 6.85 on Friday. The company’s 50 day moving average price is $7.34 and its 200-day moving average price is $7.21. ShoreTel Inc. has a 12 month low of $5.83 and a 12 month high of $10.56. The firm’s market capitalization is $463.12 million.
ShoreTel (NASDAQ:SHOR) last posted its earnings results on Thursday, October 27th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.06. The company had revenue of $86.30 million for the quarter, compared to the consensus estimate of $89.04 million. ShoreTel had a negative return on equity of 0.83% and a negative net margin of 3.52%. ShoreTel’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share.
Several hedge funds have recently modified their holdings of SHOR. KCG Holdings Inc. increased its stake in shares of ShoreTel by 45.3% in the second quarter. KCG Holdings Inc. now owns 14,997 shares of the company’s stock valued at $100,000 after buying an additional 4,673 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of ShoreTel during the third quarter valued at about $135,000. BlackRock Inc. increased its stake in shares of ShoreTel by 428.8% in the second quarter. BlackRock Inc. now owns 20,001 shares of the company’s stock valued at $134,000 after buying an additional 16,219 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of ShoreTel during the third quarter valued at about $167,000. Finally, Thompson Davis & CO. Inc. increased its stake in shares of ShoreTel by 27.3% in the third quarter. Thompson Davis & CO. Inc. now owns 21,000 shares of the company’s stock valued at $168,000 after buying an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.
A number of research analysts have recently issued reports on the company. William Blair reiterated a “buy” rating on shares of ShoreTel in a research report on Monday, October 31st. Zacks Investment Research upgraded ShoreTel from a “sell” rating to a “hold” rating in a report on Saturday, October 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. ShoreTel currently has a consensus rating of “Buy” and a consensus price target of $11.67.
ShoreTel Company Profile
Shoretel, Inc (ShoreTel) is engaged in the design, development, marketing and sale of business communication solutions. The Company provides business communication solutions, including integrated voice, video, data and mobile applications based on Internet protocol (IP) technologies. It is focused on the small and medium sized businesses (less than 5,000 users), with a Unified Communications platform.
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