Brocade Communications Systems Inc (BRCD) Files Form 4 Insider Selling : Gale E. England Sells 10,000 Shares

Brocade Communications Systems Inc (BRCD): Gale E. England , COO and SVP Operations of Brocade Communications Systems Inc sold 10,000 shares on May 31, 2016. The Insider selling transaction was reported by the company on Jun 1, 2016 to the Securities and Exchange Commission. The shares were sold at $9.00 per share for a total value of $90,000.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Mar 30, 2016, Daniel W Fairfax (SVP and CFO) sold 12,000 shares at $10.23 per share price.On Feb 23, 2016, Gale E. England (COO and SVP Operations) sold 10,000 shares at $9.68 per share price.Also, On Dec 16, 2015, Ellen Odonnell (SVP & General Counsel) sold 5,409 shares at $8.60 per share price.On Jun 18, 2015, John W Gerdelman (director) sold 80,000 shares at $12.40 per share price.

Shares of Brocade Communications Systems (BRCD) ended Wednesday, Jun 1, 2016 session in red amid volatile trading. The shares closed down -0.04 points or -0.44% at $9.02 with 1,24,05,498 shares getting traded. Post opening the session at $9, the shares hit an intraday low of $8.96 and an intraday high of $9.14 and the price vacillated in this range throughout the day. The company has a market cap of $3,614 M and the number of outstanding shares has been calculated to be 40,06,29,140 shares. The 52-week high of Brocade Communications Systems is $12.88 and the 52-week low is $7.4.

Brocade Communications Systems Money Flow Index Chart

Company has been under the radar of several Street Analysts.Brocade Communications Systems is Reiterated by RBC Capital Mkts to Sector Perform while Lowering the Price Target of the company shares to $ 9 from a previous price target of $10 . The Rating was issued on May 20, 2016.Brocade Communications Systems is Initiated by BofA/Merrill to Buy and the brokerage firm has set the Price Target at $10. The Rating was issued on May 18, 2016.Brocade Communications Systems is Downgraded by Wunderlich to Hold while Lowering the Price Target of the company shares to $ 9 from a previous price target of $10.50 . Earlier the firm had a rating of Buy on the company shares. The Rating was issued on May 3, 2016.Brocade Communications Systems is Resumed by RBC Capital Mkts to Sector Perform and the brokerage firm has set the Price Target at $11. The Rating was issued on Mar 16, 2016.

Brocade Communications Systems Inc. (Brocade) is a supplier of networking equipment including end-to-end Internet Protocol-based Ethernet networking solutions and storage area networking solutions for businesses and organizations of all types and sizes including global enterprises and service providers such as telecommunication firms cable operators and mobile carriers. Brocade offers networking hardware and software products and services. Its products and services are marketed sold and supported globally to end-user customers through distribution partners including original equipment manufacturers distributors systems integrators value-added resellers and directly to end-users by the Brocade direct sales force. The Company operates in four segments: Data Storage Global Services IP Layer 2-3 and IP Layer 4-7/ Application Delivery Products.

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Brocade Communications Systems - Is it time to Sell?

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