This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Juniper CEO Sells Another 500,000 Shares

Nobody looks forward to the end of each quarter like Juniper (JNPR - Get Report) chief Scott Kriens. Or maybe his wife, as the case may be.

In addition to leading a growing Internet equipment company, Kriens also oversees a sizable stock-selling strategy. Every three months or so, Kriens cashes in half a million shares of Juniper stock.

According to a filing Tuesday, Kriens stuck to his pattern this quarter and unloaded another 500,000 shares, netting $12 million. This takes his total sales for the year to $37.6 million. In fact, since Kriens started his quarterly selling in November 2002, he has reeled in $68.8 million from stock sales.

But don't worry. Despite selling more than 4 million shares in the past two years, he still directly owns 12 million shares, according to the latest Securities and Exchange Commission filing.

While Kriens' take has been large, the even pace of selling pretty much rules out any worries that he might be timing his cashouts to capitalize on the stock's price. And though the stock is down this year, Juniper's performance certainly doesn't suggest the company is about to run off the rails.

Riding a selective spending wave that has favored Internet gear, Juniper has strung together a handful of blowout quarters. In the most recent outing, Juniper even raised its guidance for the current quarter.

The company's stock is 20% below its early-year highs, but it has more than tripled in the space of two years. On Tuesday it rose 15 cents to $23.88.

Founded in 1996, Juniper took immediate aim at Cisco's (CSCO - Get Report) core business and focused on making bigger, faster routers to handle the impending crush of Internet users. Routers are network management devices that help direct Internet traffic to addressed locations. Juniper increasingly competes with big telecom gear makers Nortel (NT) and Lucent (LU) as well.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
CSCO $28.22 -0.63%
JNPR $27.73 0.91%
AAPL $122.05 -0.76%
FB $93.02 -4.10%
GOOG $624.74 -1.10%

Markets

Chart of I:DJI
DOW 17,693.90 -57.49 -0.32%
S&P 500 2,099.84 -8.73 -0.41%
NASDAQ 5,089.5870 -22.1460 -0.43%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs