In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Shoretel Inc. (NASDAQ:SHOR) reported that RGM Capital has picked up 4,182,366 of common stock as of 2017-05-31.
The acquisition brings the aggregate amount owned by RGM Capital to a total of 4,182,366 representing less than 6.13% stake in the company.
For those not familiar with the company, ShoreTel, Inc. is a provider of business communication solutions. The Company is engaged in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose. The Company provides this to the market through two solutions: ShoreTel Connect, its UC solution, and Contact Center offering and ShoreTel Summit, its platform for developers and integrators. ShoreTel Connect delivers a featured UC solution and applications, such as mobility, collaboration and workgroups. ShoreTel Connect offers three different delivery models, including cloud, onsite and hybrid. Connect Cloud provides a hosted voice solution to its customers. Connect OnSite provides its customers the ability to own and operate their equipment. Connect Hybrid enables its customers to use both its cloud and onsite offerings.
A glance at Shoretel Inc. (NASDAQ:SHOR)’s key stats reveals a current market capitalization of 399.41 Million based on 68.28 Million shares outstanding and a price at last close of $5.85 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-05-26, Skidmore picked up 10,000 at a purchase price of $6.75. This brings their total holding to 20,217 as of the date of the filing.
On the sell side, the most recent transaction saw Corrales unload 1,250 shares at a sale price of $6.55. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Shoretel Inc. (NASDAQ:SHOR) as things move forward to see if its progress aligns with these transactions.
Subscribe below and we’ll keep you on top of what’s happening before it moves markets.