Insider Selling: Infinera Corporation (NASDAQ:INFN) President Sells $185,800.00 in Stock

Infinera Corporation (NASDAQ:INFN) President David F. Welch sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $9.29, for a total value of $185,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Infinera Corporation (INFN) opened at 8.70 on Friday. Infinera Corporation has a one year low of $7.23 and a one year high of $12.50. The stock’s 50 day moving average price is $11.13 and its 200-day moving average price is $10.44. The firm’s market cap is $1.29 billion.

Infinera Corporation (NASDAQ:INFN) last announced its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.01. The business had revenue of $176.28 million for the quarter, compared to analyst estimates of $181.16 million. Infinera Corporation had a negative return on equity of 12.39% and a negative net margin of 18.18%. Infinera Corporation’s quarterly revenue was down 31.9% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. Analysts forecast that Infinera Corporation will post ($0.54) earnings per share for the current year.

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Several equities research analysts have recently commented on INFN shares. Zacks Investment Research downgraded Infinera Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. B. Riley reaffirmed a “neutral” rating and set a $9.50 target price on shares of Infinera Corporation in a report on Friday, May 5th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $13.50 target price on shares of Infinera Corporation in a report on Monday, May 8th. TheStreet downgraded Infinera Corporation from a “c-” rating to a “d+” rating in a report on Monday, May 15th. Finally, Wells Fargo & Company raised Infinera Corporation from a “market perform” rating to an “outperform” rating and upped their target price for the company from $10.00 to $13.00 in a report on Friday, May 26th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.91.

A number of institutional investors have recently made changes to their positions in the company. Laurion Capital Management LP acquired a new position in shares of Infinera Corporation during the second quarter worth $1,001,000. Elk Creek Partners LLC increased its position in shares of Infinera Corporation by 6.6% in the second quarter. Elk Creek Partners LLC now owns 1,654,357 shares of the communications equipment provider’s stock worth $17,652,000 after buying an additional 101,981 shares during the period. Amalgamated Bank increased its position in shares of Infinera Corporation by 5.7% in the second quarter. Amalgamated Bank now owns 18,344 shares of the communications equipment provider’s stock worth $196,000 after buying an additional 992 shares during the period. BlackRock Inc. increased its position in shares of Infinera Corporation by 2.8% in the second quarter. BlackRock Inc. now owns 9,844,377 shares of the communications equipment provider’s stock worth $105,040,000 after buying an additional 268,912 shares during the period. Finally, Nationwide Fund Advisors increased its position in shares of Infinera Corporation by 6.6% in the second quarter. Nationwide Fund Advisors now owns 94,256 shares of the communications equipment provider’s stock worth $1,006,000 after buying an additional 5,802 shares during the period. 81.05% of the stock is currently owned by hedge funds and other institutional investors.

Infinera Corporation Company Profile

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

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