Steven S. Swank Sells 4,095 Shares of RPX Corp. (RPXC) Stock
RPX Corp. (NASDAQ:RPXC) insider Steven S. Swank sold 4,095 shares of RPX Corp. stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $10.61, for a total value of $43,447.95. Following the completion of the transaction, the insider now owns 14,212 shares in the company, valued at approximately $150,789.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of RPX Corp. (NASDAQ:RPXC) traded up 0.09% on Tuesday, reaching $10.62. The company’s stock had a trading volume of 286,164 shares. The stock has a 50 day moving average of $10.23 and a 200-day moving average of $10.07. The firm has a market cap of $521.99 million, a price-to-earnings ratio of 25.35 and a beta of 1.78. RPX Corp. has a 12 month low of $8.60 and a 12 month high of $14.09.
RPX Corp. (NASDAQ:RPXC) last posted its earnings results on Thursday, November 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The firm had revenue of $88.50 million for the quarter, compared to the consensus estimate of $87.25 million. RPX Corp. had a return on equity of 5.47% and a net margin of 6.80%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 earnings per share. On average, analysts anticipate that RPX Corp. will post $0.74 EPS for the current year.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised RPX Corp. from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Saturday, August 6th. Cowen and Company cut their price objective on RPX Corp. from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 4th.
Large investors have recently bought and sold shares of the company. Credit Suisse AG increased its stake in RPX Corp. by 1.8% in the third quarter. Credit Suisse AG now owns 74,042 shares of the company’s stock valued at $793,000 after buying an additional 1,295 shares in the last quarter. Verition Fund Management LLC purchased a new position in RPX Corp. during the third quarter valued at $202,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in RPX Corp. by 24.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,900 shares of the company’s stock valued at $362,000 after buying an additional 6,700 shares during the last quarter. Panagora Asset Management Inc. boosted its position in RPX Corp. by 25.7% in the third quarter. Panagora Asset Management Inc. now owns 87,389 shares of the company’s stock valued at $934,000 after buying an additional 17,891 shares during the last quarter. Finally, Highbridge Capital Management LLC boosted its position in RPX Corp. by 43.2% in the third quarter. Highbridge Capital Management LLC now owns 77,737 shares of the company’s stock valued at $831,000 after buying an additional 23,461 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.
About RPX Corp.
RPX Corporation offers patent risk management solutions. The Company’s patent risk management solution facilitates exchanges of value between owners and users of patents. The core of its solution is defensive patent aggregation, in which the Company acquires patents and licenses to patents that are being or may be asserted against its clients.
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