Robert H. Heath Sells 4,000 Shares of RPX Corp. (RPXC) Stock
RPX Corp. (NASDAQ:RPXC) CFO Robert H. Heath sold 4,000 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $10.60, for a total value of $42,400.00. Following the transaction, the chief financial officer now directly owns 88,527 shares of the company’s stock, valued at approximately $938,386.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of RPX Corp. (NASDAQ:RPXC) opened at 10.62 on Thursday. The stock’s 50 day moving average price is $10.23 and its 200-day moving average price is $10.07. RPX Corp. has a 1-year low of $8.60 and a 1-year high of $14.09. The stock has a market cap of $521.99 million, a price-to-earnings ratio of 25.35 and a beta of 1.78.
RPX Corp. (NASDAQ:RPXC) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. RPX Corp. had a return on equity of 5.47% and a net margin of 6.80%. The firm had revenue of $88.50 million for the quarter, compared to the consensus estimate of $87.25 million. During the same quarter last year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities research analysts forecast that RPX Corp. will post $0.74 earnings per share for the current year.
Several brokerages have issued reports on RPXC. Cowen and Company cut their target price on RPX Corp. from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 4th. Zacks Investment Research raised RPX Corp. from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Saturday, August 6th.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Babson Capital Management LLC increased its position in RPX Corp. by 23.9% in the first quarter. Babson Capital Management LLC now owns 44,100 shares of the company’s stock valued at $497,000 after buying an additional 8,500 shares during the period. Renaissance Technologies LLC increased its stake in shares of RPX Corp. by 27.5% in the first quarter. Renaissance Technologies LLC now owns 1,707,500 shares of the company’s stock valued at $19,226,000 after buying an additional 368,700 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of RPX Corp. by 59.2% in the first quarter. Goldman Sachs Group Inc. now owns 196,129 shares of the company’s stock valued at $2,208,000 after buying an additional 72,926 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of RPX Corp. during the second quarter valued at about $696,000. Finally, Isthmus Partners LLC increased its stake in shares of RPX Corp. by 16.7% in the second quarter. Isthmus Partners LLC now owns 51,715 shares of the company’s stock valued at $474,000 after buying an additional 7,383 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.
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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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