Cisco CFO Sells $578,979 Worth of Stock Amid Decline
Cisco Systems Inc.'s Chief Financial Officer Mark Patterson has sold $578,979 worth of company stock. He disposed of a total of 5,192 shares on August 14, 2026, under a pre-existing trading plan. The sales were made at prices ranging from $110.09 to $112.84, with the average price being around $111.60.
The sale comes as Cisco's stock has declined by nearly 8% in the past week, following a remarkable 74% gain over the past year. However, analysts remain optimistic about the company's future prospects, with several firms increasing their price targets for Cisco stock. UBS raised its target to $138, while KeyBanc and Truist Securities set new targets at $135 and $140 respectively.
Cisco reported strong fourth-quarter fiscal 2026 results, surpassing consensus estimates in both revenue and earnings per share. The company's robust performance has been driven by its positioning for a networking supercycle, which is expected to drive significant growth in fiscal 2027.