Insider Selling: Ribbon Communications (NASDAQ:RBBN) EVP Sells 155,434 Shares of Stock

Key Points

• Dan Redington, EVP of Ribbon Communications, sold 155,434 shares on September 5th for approximately $626,399, reducing his ownership in the company by 91.64%.
• Ribbon Communications reported a 14.5% increase in revenue year-over-year for the quarter, totaling $220.58 million, with earnings per share meeting analyst estimates at $0.05.
• Several analysts have upgraded Ribbon Communications' stock, with an average price target now at $6.00 and a general consensus rating of "Buy".

Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report) EVP Dan Redington sold 155,434 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $4.03, for a total value of $626,399.02. Following the completion of the transaction, the executive vice president directly owned 14,176 shares of the company's stock, valued at $57,129.28. The trade was a 91.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Dan Redington also recently made the following trade(s):

• On Monday, September 8th, Dan Redington sold 14,176 shares of Ribbon Communications stock. The stock was sold at an average price of $4.02, for a total value of $56,987.52.
• On Thursday, September 4th, Dan Redington sold 20,000 shares of Ribbon Communications stock. The shares were sold at an average price of $4.16, for a total value of $83,200.00.

Ribbon Communications Price Performance

NASDAQ:RBBN traded down $0.12 during trading hours on Friday, hitting $3.82. 570,181 shares of the company's stock traded hands, compared to its average volume of 523,187. The firm has a market cap of $676.45 million, a P/E ratio of -15.28 and a beta of 1.39. Ribbon Communications Inc. has a 52 week low of $2.91 and a 52 week high of $5.38. The business's fifty day simple moving average is $3.94 and its two-hundred day simple moving average is $3.83. The company has a quick ratio of 1.13, a current ratio of 1.38 and a debt-to-equity ratio of 0.88.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $220.58 million during the quarter, compared to analyst estimates of $213.31 million. Ribbon Communications had a positive return on equity of 7.08% and a negative net margin of 5.14%.The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. Ribbon Communications has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, research analysts anticipate that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RBBN shares. Wall Street Zen raised Ribbon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Rosenblatt Securities reissued a "buy" rating and set a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $6.00.

Institutional Investors Weigh In On Ribbon Communications

Several hedge funds have recently added to or reduced their stakes in RBBN. Tower Research Capital LLC TRC lifted its stake in Ribbon Communications by 453.3% during the second quarter. Tower Research Capital LLC TRC now owns 10,025 shares of the communications equipment provider's stock worth $40,000 after purchasing an additional 8,213 shares during the last quarter. Ballentine Partners LLC bought a new stake in Ribbon Communications during the second quarter worth about $44,000. Keel Point LLC purchased a new position in shares of Ribbon Communications in the second quarter worth about $45,000. Prudential Financial Inc. purchased a new position in shares of Ribbon Communications in the second quarter worth about $47,000. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Ribbon Communications in the second quarter worth about $50,000. Institutional investors own 70.92% of the company's stock.

About Ribbon Communications

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.