RPX Corporation (NASDAQ:RPXC) EVP Robert H. Heath sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $12.83, for a total value of $192,450.00. Following the transaction, the executive vice president now directly owns 60,529 shares of the company’s stock, valued at approximately $776,587.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
RPX Corporation (NASDAQ RPXC) traded up 0.55% during mid-day trading on Friday, reaching $12.79. The company had a trading volume of 388,676 shares. The stock has a 50 day moving average price of $12.81 and a 200-day moving average price of $13.00. The stock has a market capitalization of $633.11 million, a P/E ratio of 31.90 and a beta of 1.42. RPX Corporation has a 12-month low of $8.99 and a 12-month high of $15.15.
RPX Corporation (NASDAQ:RPXC) last posted its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. RPX Corporation had a net margin of 6.01% and a return on equity of 5.51%. The company had revenue of $80.40 million for the quarter, compared to analyst estimates of $81.27 million. During the same period in the prior year, the company earned $0.18 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. Equities analysts anticipate that RPX Corporation will post $0.72 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of RPXC. Norges Bank purchased a new stake in shares of RPX Corporation during the 4th quarter worth about $826,000. Nationwide Fund Advisors boosted its stake in shares of RPX Corporation by 14.2% during the 1st quarter. Nationwide Fund Advisors now owns 47,758 shares of the business services provider’s stock worth $573,000 after acquiring an additional 5,927 shares in the last quarter. Strs Ohio boosted its stake in shares of RPX Corporation by 20,066.7% during the 1st quarter. Strs Ohio now owns 60,500 shares of the business services provider’s stock worth $726,000 after acquiring an additional 60,200 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of RPX Corporation by 1.5% during the 1st quarter. Wells Fargo & Company MN now owns 391,984 shares of the business services provider’s stock worth $4,704,000 after purchasing an additional 5,784 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of RPX Corporation by 4.8% during the 1st quarter. Bank of New York Mellon Corp now owns 252,579 shares of the business services provider’s stock worth $3,030,000 after purchasing an additional 11,617 shares during the last quarter. 88.05% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the company. Barclays PLC increased their price target on RPX Corporation from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Thursday, May 25th. BidaskClub cut RPX Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research upgraded RPX Corporation from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. RPX Corporation presently has a consensus rating of “Hold” and an average target price of $13.50.
RPX Corporation Company Profile
RPX Corporation is engaged in providing an alternative to litigation through its patent risk management services. The Company helps companies reduce patent litigation risk and corporate legal expense through two primary service offerings: patent risk management services and discovery services. It operates through two segments: patent risk management and discovery services.
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