IronNet (NYSE:IRNT) Shares Gap Down on Insider Selling

Shares of IronNet, Inc. (NYSE:IRNT) gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $9.19, but opened at $8.84. IronNet shares last traded at $8.95, with a volume of 1,414 shares changing hands.

Specifically, CEO Keith Brian Alexander sold 24,100 shares of the firm’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $10.12, for a total value of $243,892.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 384,100 shares of company stock valued at $4,159,792 in the last three months.

A number of equities research analysts have commented on IRNT shares. Needham & Company LLC started coverage on shares of IronNet in a report on Monday, September 27th. They issued a “buy” rating and a $29.00 price target for the company. Jefferies Financial Group assumed coverage on shares of IronNet in a report on Wednesday, September 29th. They set a “hold” rating and a $27.00 price objective for the company. Finally, BTIG Research assumed coverage on shares of IronNet in a report on Friday, September 24th. They set a “neutral” rating for the company.

The business has a 50-day moving average price of $15.88.

Several hedge funds and other institutional investors have recently bought and sold shares of IRNT. Royal Bank of Canada bought a new stake in shares of IronNet in the third quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of IronNet in the third quarter valued at approximately $65,000. Advisor Group Holdings Inc. bought a new stake in shares of IronNet in the third quarter valued at approximately $90,000. Two Sigma Securities LLC bought a new stake in shares of IronNet in the third quarter valued at approximately $193,000. Finally, Morgan Stanley bought a new stake in shares of IronNet in the third quarter valued at approximately $476,000. 67.32% of the stock is currently owned by institutional investors.

IronNet Company Profile (NYSE:IRNT)

IronNet Cybersecurity Inc provides cybersecurity by delivering collective defense platform. IronNet Cybersecurity Inc, formerly known as LGL Systems Acquisition Corp., is based in RENO, NV.

Further Reading: Fiduciary

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