Juniper is back. And so are its insider stock sales.
The Sunnyvale networking equipment company seemed to be on the endangered species list during the telecom collapse earlier this decade. But it’s rebounded nicely, especially over the past year when its stock has more than doubled. The stock was trading at $32.21 near the end of Thursday.
Insiders put sales on hold for about a year, but began cashing in again in April. Since then, six insiders have sold 1,292,815 shares to collect $36,190,197.
That includes chief executive Scott Kriens, who sold 500,000 shares on July 24 for $30.49 per share to collect $15.2 million. That’s the largest sale in five years at Juniper, according to Thomson Financial. And it brings his total sales to $282.2 million.
While Kriens had the biggest single sale at Juniper, chief technical officer and Juniper co-founder Pradeep Sindhu has had a bigger year so far. Sindhu has sold 650,000 shares over the past three months at prices ranging from $22.68 to $30.91 to collect $17.3 million. Sindhu now has total stock sales of $203.9 million.
Update: Sindhu sold another 100,000 shares this week, according to filings on Thursday. He sold them at $30.69 per share to collect $3.07 million, bringing his total this year to $20.4 million.