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CEO of Keynote Systems Umang Gupta Sells 342,000 Shares

July 28, 2011 | About:
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hyperman299

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Chairman of the Board, CEO and 10% owner of Keynote Systems Inc. (KEYN) Umang P. Gupta sold 342,107 shares of the company on 07/27/2011 at an average price of $23.96. The total transaction amount is $8,196,883.

Keynote Systems Inc. is the global leader in test and measurement solutions that improve mobile communications and online business performance. Keynote Systems Inc. has a market cap of $394.8 million; its shares were traded at around $23.97 with a P/E ratio of 47 and P/S ratio of 5. The dividend yield of Keynote Systems Inc. stocks is 1%.

Umang Gupta has been consistently selling off his shares in the company in July of 2011. On July 8, 2011, he sold 45,834 shares, then proceeded to sell 23,367 more on July 13. Afterwards, he sold about 13,000 more shares on the 18th, and 46,000 more on the 21st. On July 27, 2011, he sold 342,107 shares of the company.

Keynote Systems recently reported its third-quarter fiscal 2011 results. Revenue was $26.6 million, compared to $19.3 million year over year. Excluding the approximately $2.4 million positive effect of the accounting standards change related to the company's revenue recognition policy, revenue grew 25%. Operating income was $4.5 million, compared to an operating loss of $77,000.

Gupta said: "Our early and continued investments in mobile and Internet cloud technology are resonating with our customers' need to monitor and test the performance of their growing online assets. Reflecting customer demand, we delivered $26.6 million in revenue during the fiscal third quarter--record quarterly revenue with and without the positive impact from the accounting standards change. We highlight the renewed momentum of our Internet business, which grew 18% year-over-year, and we continue to see strong growth in our mobile business.”

Vice President of Marketing Vikram A. Chaudhary sold 14,902 shares of KEYN stock on 07/07/2011 at the average price of $22. Vikram A. Chaudhary owns at least 1,311 shares after this. The price of the stock has increased by 8.95% since. Vice President of Marketing Anshu Agarwal sold 624 shares of KEYN stock on 07/06/2011 at the average price of $21.73. The price of the stock has increased by 10.31% since. Other insiders have also decreased their positions in the company.

Keynote Systems has a predictability rating of 1 Star.

Rating: 2.0/5 (2 votes)

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