RPX Corporation (NASDAQ:RPXC)’s share price dropped 0% during trading on Thursday after Cowen and Company lowered their price target on the stock from $12.00 to $11.00. Cowen and Company currently has a market perform rating on the stock. RPX Corporation traded as low as $10.41 and last traded at $10.76, with a volume of 231,809 shares changing hands. The stock had previously closed at $10.76.

Separately, Zacks Investment Research raised shares of RPX Corporation from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a research report on Thursday, November 10th.

In other RPX Corporation news, CFO Robert H. Heath sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $10.60, for a total value of $42,400.00. Following the completion of the transaction, the chief financial officer now owns 88,527 shares of the company’s stock, valued at approximately $938,386.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven S. Swank sold 4,095 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $10.61, for a total transaction of $43,447.95. Following the completion of the transaction, the insider now directly owns 14,212 shares of the company’s stock, valued at approximately $150,789.32. The disclosure for this sale can be found here. Company insiders own 6.89% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in RPX Corporation by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,100,969 shares of the company’s stock valued at $28,435,000 after buying an additional 61,109 shares during the period. Prudential Financial Inc. boosted its stake in RPX Corporation by 28.0% in the second quarter. Prudential Financial Inc. now owns 316,040 shares of the company’s stock valued at $2,898,000 after buying an additional 69,100 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in RPX Corporation by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 176,465 shares of the company’s stock valued at $1,619,000 after buying an additional 3,888 shares during the period. Royal Bank of Canada boosted its stake in RPX Corporation by 1,267.9% in the second quarter. Royal Bank of Canada now owns 191,500 shares of the company’s stock valued at $1,756,000 after buying an additional 177,500 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in RPX Corporation by 0.7% in the third quarter. Acadian Asset Management LLC now owns 1,641,856 shares of the company’s stock valued at $17,552,000 after buying an additional 11,421 shares during the period. 87.02% of the stock is owned by institutional investors and hedge funds.

The stock has a 50 day moving average of $10.98 and a 200-day moving average of $10.63. The stock has a market capitalization of $532.31 million, a price-to-earnings ratio of 30.14 and a beta of 1.59.

RPX Corporation (NASDAQ:RPXC) last issued its quarterly earnings results on Tuesday, February 14th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.17 by $0.05. RPX Corporation had a return on equity of 5.47% and a net margin of 6.80%. The company had revenue of $81.80 million for the quarter, compared to analyst estimates of $83.58 million. During the same period last year, the company posted $0.21 EPS. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities analysts anticipate that RPX Corporation will post $0.85 earnings per share for the current year.

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About RPX Corporation

RPX Corporation offers patent risk management solutions. The Company’s patent risk management solution facilitates exchanges of value between owners and users of patents. The core of its solution is defensive patent aggregation, in which the Company acquires patents and licenses to patents that are being or may be asserted against its clients.

5 Day Chart for NASDAQ:RPXC

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