Charles Robbins, Chair and CEO of Cisco Systems, Inc. (NASDAQ:CSCO), recently sold a significant portion of the company’s common stock. According to a recent SEC filing, Robbins sold a total of 31,983 shares on February 14, 2025. The shares were sold at prices ranging from $64.0107 to $64.8086 per share, resulting in a total transaction value of approximately $2.06 million. The timing of these sales is notable as InvestingPro data shows the stock trading near its 52-week high of $66.50, following a substantial 31% gain over the past six months. Based on InvestingPro’s Fair Value analysis, the stock currently appears overvalued.
These transactions were conducted under a Rule 10b5-1 plan, which Robbins adopted on February 28, 2024. Following these sales, Robbins now owns 736,120 shares directly, which include dividend equivalents accrued on both vested and unvested restricted stock units. The company maintains strong financial health with an overall score of "GOOD" according to InvestingPro metrics, and has consistently raised its dividend for 14 consecutive years.
The sales were executed in multiple transactions across a specified price range, as noted in the filing. Robbins has committed to providing detailed information regarding the number of shares sold at each price upon request. For deeper insights into Cisco’s valuation and financial metrics, including 12 additional ProTips and comprehensive analysis, visit InvestingPro to access the full Pro Research Report.
In other recent news, several prominent financial firms have adjusted their outlook on Cisco Systems Inc., following the company’s robust performance. UBS raised its price target for Cisco from $62 to $70, citing an 11% growth in product orders and a 29% increase with Splunk (NASDAQ:SPLK) included. However, UBS tempered its earnings per share (EPS) growth projections due to potential tariff risks.
Piper Sandler also increased Cisco’s price target, from $57 to $72, acknowledging the company’s positive narrative surrounding several business areas, including AI initiatives and the integration of Splunk. Citi analysts lifted their price target from $68 to $71, highlighting significant orders for Cloud AI, amounting to $750 million year-to-date.
Meanwhile, Barclays (LON:BARC) increased Cisco’s price target from $56 to $61, noting a significant acceleration in total product order growth. Lastly, JPMorgan (NYSE:JPM) raised its price target from $69 to $73, emphasizing the strengthening demand cycle and improved revenue and order trends across all customer verticals. All these updates are based on recent developments and should be of interest to investors.
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