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Richard Scott Herren, the Executive Vice President and Chief Financial Officer of Cisco Systems, Inc. (NASDAQ:CSCO), recently sold a significant portion of his holdings in the company. The sale comes as Cisco’s stock trades near its 52-week high of $66.50, having gained over 31% in the past six months. According to a Form 4 filing with the Securities and Exchange Commission, Herren sold a total of 19,929 shares of Cisco common stock on February 14, 2025.
The transactions, which were conducted under a pre-arranged 10b5-1 trading plan, took place at a weighted average price range of $64.0012 to $64.8036 per share. The total value of these sales amounted to approximately $1.28 million. According to InvestingPro analysis, Cisco’s stock is currently trading above its Fair Value, with technical indicators suggesting overbought conditions.
Following these transactions, Herren retains ownership of 335,604.74 shares of Cisco stock, which includes dividend equivalents accrued on both vested and unvested deferred restricted stock units. With a market capitalization of $257 billion, Cisco maintains a strong position in the Communications Equipment industry. InvestingPro subscribers have access to 12 additional key insights about Cisco’s financial health and market position through the comprehensive Pro Research Report.
In other recent news, several financial firms have revised their price targets for Cisco Systems Inc. UBS analyst David Vogt raised the price target from $62 to $70, highlighting an 11% growth in product orders and a 29% increase with Splunk (NASDAQ:SPLK) included. Piper Sandler increased its price target for Cisco from $57 to $72, noting positive developments such as traction with AI initiatives and the integration of Splunk. Citi analysts lifted their price target from $68 to $71, maintaining a Buy rating due to the robust performance of Cisco’s core networking business. Barclays (LON:BARC) analyst Tim Long increased the price target from $56 to $61, citing revenues slightly above projections and impressive total product order growth. Lastly, JPMorgan analyst Samik Chatterjee raised the price target from $69 to $73, acknowledging improved revenue and order trends across all customer verticals. These recent developments reflect a positive outlook for Cisco’s financial performance.
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