Rami Rahim Sells 45,000 Shares of Juniper Networks Inc. (JNPR) Stock
Juniper Networks Inc. (NYSE:JNPR) CEO Rami Rahim sold 45,000 shares of the company’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $26.16, for a total value of $1,177,200.00. Following the completion of the sale, the chief executive officer now owns 479,607 shares in the company, valued at $12,546,519.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Juniper Networks Inc. (NYSE:JNPR) opened at 26.36 on Tuesday. Juniper Networks Inc. has a 52 week low of $21.18 and a 52 week high of $30.72. The stock’s 50 day moving average price is $24.77 and its 200 day moving average price is $23.50. The company has a market capitalization of $10.03 billion, a P/E ratio of 17.07 and a beta of 1.24.
Juniper Networks (NYSE:JNPR) last posted its quarterly earnings results on Tuesday, October 25th. The network equipment provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Juniper Networks had a return on equity of 13.47% and a net margin of 12.22%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $626.94 million. During the same period in the prior year, the business earned $0.57 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts anticipate that Juniper Networks Inc. will post $2.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Thursday, December 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Tuesday, November 29th. Juniper Networks’s dividend payout ratio (DPR) is currently 25.81%.
A number of hedge funds and other institutional investors have recently bought and sold shares of JNPR. Stevens First Principles Investment Advisors purchased a new position in Juniper Networks during the third quarter worth $120,000. Advisor Group Inc. purchased a new position in Juniper Networks during the second quarter worth $121,000. Global X Management Co. LLC increased its position in Juniper Networks by 62.2% in the second quarter. Global X Management Co. LLC now owns 5,742 shares of the network equipment provider’s stock worth $129,000 after buying an additional 2,201 shares during the period. Creative Planning increased its position in Juniper Networks by 24.1% in the second quarter. Creative Planning now owns 6,490 shares of the network equipment provider’s stock worth $146,000 after buying an additional 1,262 shares during the period. Finally, Societe Generale purchased a new position in Juniper Networks during the second quarter worth $157,000. 85.62% of the stock is currently owned by institutional investors and hedge funds.
JNPR has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Juniper Networks in a research report on Wednesday, October 26th. BMO Capital Markets restated a “market perform” rating and set a $26.00 target price (up previously from $24.00) on shares of Juniper Networks in a report on Thursday, October 27th. Citigroup Inc. increased their target price on Juniper Networks from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Zacks Investment Research cut Juniper Networks from a “hold” rating to a “sell” rating in a report on Friday, July 29th. Finally, Robert W. Baird restated a “neutral” rating and set a $26.00 target price on shares of Juniper Networks in a report on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.68.
About Juniper Networks
Juniper Networks, Inc designs, develops and sells products and services for high-performance networks to enable customers to build networks for their businesses. The Company sells its products in over 100 countries in three geographic regions: Americas; Europe, Middle East, and Africa (EMEA), and Asia Pacific (APAC).
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