Insider Selling: Cisco Systems, Inc. (NASDAQ:CSCO) SVP Sells $466,145.60 in Stock

Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) SVP Prat Bhatt sold 9,752 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $47.80, for a total value of $466,145.60. Following the transaction, the senior vice president now owns 56,159 shares of the company’s stock, valued at approximately $2,684,400.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Prat Bhatt also recently made the following trade(s):

  • On Tuesday, September 13th, Prat Bhatt sold 19,168 shares of Cisco Systems stock. The stock was sold at an average price of $44.28, for a total value of $848,759.04.

Cisco Systems Price Performance

NASDAQ CSCO opened at $48.57 on Friday. The firm’s fifty day simple moving average is $43.15 and its two-hundred day simple moving average is $44.35. The company has a current ratio of 1.45, a quick ratio of 1.34 and a debt-to-equity ratio of 0.19. Cisco Systems, Inc. has a 12-month low of $38.60 and a 12-month high of $64.29. The firm has a market capitalization of $199.57 billion, a P/E ratio of 17.53, a P/E/G ratio of 2.35 and a beta of 1.00.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. Cisco Systems had a net margin of 22.00% and a return on equity of 31.68%. The business had revenue of $13.63 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same period in the previous year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSCO. Barclays lowered Cisco Systems from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $56.00 to $46.00 in a research report on Wednesday, September 21st. Credit Suisse Group lifted their price target on Cisco Systems from $65.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, November 17th. Evercore ISI raised their price objective on shares of Cisco Systems from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, August 18th. Piper Sandler raised their price objective on shares of Cisco Systems from $43.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. Finally, UBS Group raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, August 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $53.63.

Hedge Funds Weigh In On Cisco Systems

Several institutional investors and hedge funds have recently bought and sold shares of CSCO. Syverson Strege & Co increased its position in shares of Cisco Systems by 68.9% in the 2nd quarter. Syverson Strege & Co now owns 591 shares of the network equipment provider’s stock valued at $25,000 after acquiring an additional 241 shares during the period. Cordant Inc. purchased a new position in Cisco Systems in the 1st quarter worth $28,000. Iron Horse Wealth Management LLC lifted its holdings in shares of Cisco Systems by 328.1% during the second quarter. Iron Horse Wealth Management LLC now owns 655 shares of the network equipment provider’s stock worth $28,000 after purchasing an additional 502 shares during the period. Johnson Midwest Financial LLC lifted its holdings in shares of Cisco Systems by 189.7% during the second quarter. Johnson Midwest Financial LLC now owns 678 shares of the network equipment provider’s stock worth $29,000 after purchasing an additional 444 shares during the period. Finally, Advanced Research Investment Solutions LLC boosted its position in Cisco Systems by 564.6% in the first quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock valued at $30,000 after buying an additional 463 shares during the last quarter. 71.71% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Company Profile

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Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

Further Reading

Insider Buying and Selling by Quarter for Cisco Systems (NASDAQ:CSCO)

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