A Director at Infinera (INFN) is Selling Shares


On August 12, a Director at Infinera (INFN), David F. Welch, sold shares of INFN for $408K.

This is Welch’s first Sell trade following 5 Buy transactions.

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Based on Infinera’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $332 million and GAAP net loss of -$61,635,000. In comparison, last year the company earned revenue of $296 million and had a GAAP net loss of $114 million. The company has a one-year high of $9.25 and a one-year low of $3.68.

INFN is a controversial stock, with 4 analysts recommending Buy, while 3 recommends selling the stock. Based on 9 analyst ratings, the analyst consensus is Hold with an average price target of $8.50, reflecting a -3.5% downside. Three different firms, including Citigroup and Jefferies, currently also have a Sell rating on the stock.

The insider sentiment on Infinera has been neutral according to 22 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Infinera Corp. engages in the provision of optical transport networking equipment, software, and services to telecommunications carriers. Its products include long-haul and subsea, metro networks, data center interconnect, and software. The company was founded by David F. Welch, Drew Daniel Perkins, and Jagdeep Singh in December 2000, and is headquartered in Sunnyvale, CA.

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