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 business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $4.03, for a total transaction of $626,399.02. Following the sale, the executive vice president directly owned 14,176 shares of the company's stock, valued at approximately $57,129.28. This represents a 91.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $56,987.52.
• On Thursday, September 4th, Dan Redington sold 20,000 shares of Ribbon Communications stock. The stock was sold at an average price of $4.16, for a total transaction of $83,200.00.

Ribbon Communications Stock Performance

NASDAQ RBBN traded up $0.07 on Monday, hitting $4.06. The stock had a trading volume of 448,816 shares, compared to its average volume of 555,980. The company's 50-day moving average is $3.96 and its two-hundred day moving average is $3.84. The stock has a market cap of $718.94 million, a price-to-earnings ratio of -16.24 and a beta of 1.39. Ribbon Communications Inc. has a one year low of $2.84 and a one year high of $5.38. 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 issued its quarterly earnings results on Wednesday, July 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, hitting analysts' consensus estimates 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 negative net margin of 5.14% and a positive return on equity of 7.08%. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 EPS. Ribbon Communications has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts expect that Ribbon Communications Inc. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Ribbon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Rosenblatt Securities upped their price objective on shares of Ribbon Communications from $5.50 to $6.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $6.00.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Ribbon Communications by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 7,457,467 shares of the communications equipment provider's stock worth $29,233,000 after acquiring an additional 55,394 shares during the period. Royce & Associates LP increased its position in shares of Ribbon Communications by 10.3% during the 1st quarter. Royce & Associates LP now owns 3,092,068 shares of the communications equipment provider's stock worth $12,121,000 after purchasing an additional 289,210 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Ribbon Communications by 7.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,303,256 shares of the communications equipment provider's stock worth $9,238,000 after purchasing an additional 169,402 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Ribbon Communications by 24.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,476,053 shares of the communications equipment provider's stock valued at $5,919,000 after acquiring an additional 286,803 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in Ribbon Communications by 16.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,025,914 shares of the communications equipment provider's stock valued at $4,114,000 after acquiring an additional 145,159 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.