Swiss National Bank boosted its position in ShoreTel Inc. (NASDAQ:SHOR) by 4.0% during the second quarter, Holdings Channel reports. The firm owned 120,800 shares of the company’s stock after buying an additional 4,600 shares during the period. Swiss National Bank owned approximately 0.18% of ShoreTel worth $808,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. California State Teachers Retirement System raised its position in shares of ShoreTel by 3.2% in the second quarter. California State Teachers Retirement System now owns 141,100 shares of the company’s stock worth $944,000 after buying an additional 4,360 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of ShoreTel during the second quarter worth $197,000. Strs Ohio raised its position in shares of ShoreTel by 8.3% in the second quarter. Strs Ohio now owns 101,400 shares of the company’s stock worth $678,000 after buying an additional 7,800 shares in the last quarter. Bank of Montreal Can bought a new position in shares of ShoreTel during the second quarter worth $340,000. Finally, Barclays PLC raised its position in shares of ShoreTel by 149.5% in the first quarter. Barclays PLC now owns 250,200 shares of the company’s stock worth $1,751,000 after buying an additional 149,900 shares in the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.
ShoreTel Inc. (NASDAQ:SHOR) traded down 1.73% during trading on Friday, reaching $7.97. 525,939 shares of the company’s stock traded hands. ShoreTel Inc. has a one year low of $5.83 and a one year high of $10.56. The company has a 50-day moving average price of $8.08 and a 200 day moving average price of $7.26. The firm’s market capitalization is $537.10 million.
ShoreTel (NASDAQ:SHOR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. ShoreTel had a negative net margin of 1.32% and a positive return on equity of 2.31%. The business earned $94.60 million during the quarter, compared to analysts’ expectations of $90.57 million. During the same period in the previous year, the business posted $0.12 EPS. The business’s quarterly revenue was up .4% compared to the same quarter last year. On average, analysts anticipate that ShoreTel Inc. will post $0.01 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of ShoreTel from a “hold” rating to a “sell” rating in a research report on Thursday, August 11th. William Blair restated a “buy” rating on shares of ShoreTel in a research report on Saturday, July 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. ShoreTel has an average rating of “Buy” and an average target price of $11.25.
In other news, SVP Bharath Oruganti sold 13,125 shares of ShoreTel stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $8.50, for a total transaction of $111,562.50. Following the completion of the transaction, the senior vice president now directly owns 36,724 shares of the company’s stock, valued at approximately $312,154. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.40% of the company’s stock.
Shoretel, Inc (ShoreTel) is engaged in the design, development, marketing and sale of business communication solutions. The Company provides business communication solutions, including integrated voice, video, data and mobile applications based on Internet protocol (IP) technologies. It is focused on the small and medium sized businesses (less than 5,000 users), with a Unified Communications platform.