Thimaya K. Subaiya, Executive Vice President of Operations at Cisco Systems, completed a sale of 1,744 shares of Cisco common stock on March 12, 2026, at a per-share price of $77.07, for total proceeds of $134,410. The trade was carried out under a Rule 10b5-1 plan that Subaiya established on March 18, 2025.
Two days earlier, on March 10, 2026, Subaiya also recorded a disposition of 1,715.468 shares at $76.21 per share. That parcel of shares, valued at $130,735, was withheld specifically to satisfy a tax liability.
After those transactions, Subaiya's direct ownership in Cisco totals 156,693.115 shares. That tally incorporates 3,212.419 dividend equivalents that have accrued on unvested restricted stock units, with each dividend equivalent representing one share of Cisco common stock.
At the time of the March 12 sale, Cisco's market price was trading near $77.74, and the stock has delivered a 32% return over the last 12 months. According to InvestingPro analysis referenced in the filing, the shares currently appear overvalued relative to the service's Fair Value estimate.
Separately, Cisco Systems reported fiscal second-quarter 2026 financial results that exceeded consensus expectations. Adjusted earnings per share came in at $1.04, topping the $1.02 forecast, while revenue reached $15.3 billion versus an anticipated $15.11 billion.
Those results prompted several analyst reactions. UBS raised its price target for Cisco to $95.00 from $90.00 and maintained a Buy rating, citing momentum in AI-related demand and product orders. Bank of America reiterated a Buy rating and highlighted the company's traction in AI and cloud offerings. By contrast, Erste Group moved to downgrade Cisco from Buy to Hold, pointing to concerns about the company's gross margin outlook even as it reiterated positive revenue guidance for fiscal 2026 - with sales expected to be roughly $61.5 billion.
Bank of America also noted a customer shift toward enterprise agreements as organizations increasingly adopt bundled software and service contracts. The bank observed that this transition is supporting broader uptake of Cisco's security product portfolio across its customer base.
Taken together, the insider activity and the company's quarterly report underscore a period of notable activity for Cisco, with management stock movements, analyst reassessments, and shifting customer contract structures occurring in close sequence.
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