Creative Planning cut its stake in shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 11,652 shares of the technology company’s stock after selling 91 shares during the period. Creative Planning’s holdings in Brocade Communications Systems were worth $147,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake in Brocade Communications Systems by 13.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock valued at $148,000 after buying an additional 1,430 shares during the last quarter. Stephens Inc. AR increased its stake in Brocade Communications Systems by 17.6% in the first quarter. Stephens Inc. AR now owns 11,960 shares of the technology company’s stock valued at $149,000 after buying an additional 1,792 shares during the last quarter. Bank of Montreal Can increased its stake in Brocade Communications Systems by 14.0% in the first quarter. Bank of Montreal Can now owns 13,240 shares of the technology company’s stock valued at $166,000 after buying an additional 1,629 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Brocade Communications Systems by 1.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,671 shares of the technology company’s stock valued at $196,000 after buying an additional 295 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its stake in Brocade Communications Systems by 61.8% in the first quarter. Great Lakes Advisors LLC now owns 16,939 shares of the technology company’s stock valued at $211,000 after buying an additional 6,470 shares during the last quarter. 82.05% of the stock is owned by hedge funds and other institutional investors.

Shares of Brocade Communications Systems, Inc. (BRCD) traded up 1.68% during midday trading on Friday, reaching $12.14. 15,720,912 shares of the company’s stock were exchanged. The stock has a market capitalization of $4.98 billion, a P/E ratio of 83.15 and a beta of 0.66. Brocade Communications Systems, Inc. has a 12-month low of $8.64 and a 12-month high of $12.72. The firm has a 50-day moving average of $12.56 and a 200-day moving average of $12.52.

Brocade Communications Systems (NASDAQ:BRCD) last announced its quarterly earnings results on Thursday, May 25th. The technology company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. Brocade Communications Systems had a net margin of 2.54% and a return on equity of 8.49%. The firm had revenue of $552.80 million during the quarter, compared to analyst estimates of $602.92 million. During the same period in the previous year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts anticipate that Brocade Communications Systems, Inc. will post $0.58 EPS for the current fiscal year.

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Several research firms have recently commented on BRCD. BidaskClub downgraded shares of Brocade Communications Systems from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Royal Bank Of Canada reissued a “hold” rating and set a $12.75 target price on shares of Brocade Communications Systems in a research report on Friday, June 9th. Zacks Investment Research raised shares of Brocade Communications Systems from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Wednesday, May 31st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $12.75 target price on shares of Brocade Communications Systems in a research report on Friday, May 26th. Two analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. Brocade Communications Systems presently has an average rating of “Hold” and an average price target of $11.13.

In other news, SVP Ellen Odonnell sold 7,811 shares of Brocade Communications Systems stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $12.64, for a total value of $98,731.04. Following the completion of the sale, the senior vice president now directly owns 19,037 shares in the company, valued at $240,627.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ken Cheng sold 200,000 shares of Brocade Communications Systems stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $12.62, for a total transaction of $2,524,000.00. Following the completion of the sale, the senior vice president now owns 252,338 shares of the company’s stock, valued at $3,184,505.56. The disclosure for this sale can be found here. Insiders sold 276,299 shares of company stock valued at $3,487,050 over the last quarter. Company insiders own 1.77% of the company’s stock.

About Brocade Communications Systems

Brocade Communications Systems, Inc (Brocade) is a supplier of networking hardware, software and services, including storage area networking (SAN) solutions and Internet protocol (IP) networking solutions for businesses and organizations of various types and sizes. The Company operates through three segments: SAN Products, IP Networking Products and Global Services.

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Institutional Ownership by Quarter for Brocade Communications Systems (NASDAQ:BRCD)

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