Stock traders buy high volume of Ping Identity put options (NYSE: PING)
Ping Identity Holding Corp. (NYSE:PING – Get Rating) was the recipient of some unusual options trading activity on Wednesday. Equity investors acquired 2,002 put options on the company. This is an increase of 877% from the average daily volume of 205 put options.
In other news, COO Bryan Kristian Nagel sold 59,000 shares of the company in a trade dated Wednesday, April 13. The shares were sold at an average price of $30.07, for a total transaction of $1,774,130.00. Following completion of the transaction, the COO now directly owns 473,387 shares of the company, valued at approximately $14,234,747.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, CEO Andre Wong Durand sold 100,000 shares of the company in a trade dated Friday, March 25. The stock was sold at an average price of $26.04, for a total transaction of $2,604,000.00. The disclosure of this sale can be found here. In the past three months, insiders have sold 224,564 shares of the company valued at $6,259,867. Insiders own 2.89% of the shares of the company.
Institutional investors and hedge funds have recently been buying and selling stocks. Mirador Capital Partners LP increased its position in Ping Identity by 45.6% during the fourth quarter. Mirador Capital Partners LP now owns 16,392 shares of the company worth $375,000 after purchasing an additional 5,132 shares during the period. Brinker Capital Investments LLC bought a new stock position in Ping Identity in the fourth quarter for a value of approximately $262,000. Metropolitan Life Insurance Co NY increased its holdings of Ping Identity shares by 21.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 13,375 shares of the company worth $329,000 after acquiring 2,406 additional shares in the last quarter. Geode Capital Management LLC increased its equity stake in Ping Identity by 12.1% in the third quarter. Geode Capital Management LLC now owns 747,288 shares of the company worth $18,360,000 after acquiring an additional 80,904 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its equity stake in Ping Identity to 95.6% in the fourth quarter. Handelsbanken Fonder AB now owns 511,400 shares of the company worth $11,701,000 after acquiring an additional 250,000 shares in the last quarter. 84.31% of the shares are held by institutional investors and hedge funds.
Several brokerages have recently published reports on PING. KeyCorp began covering Ping Identity’s actions in a report on Monday, April 4. They set an “overweight” rating and a price target of $34.00 for the company. Barclays cut its price target on Ping Identity shares from $35.00 to $30.00 and set an “overweight” rating for the company in a Wednesday, January 19 report. Deutsche Bank Aktiengesellschaft cut its price target on Ping Identity shares from $25.00 to $21.00 and set a “holding” rating for the company in a Friday, Feb. 25 report. Mizuho lowered its price target on Ping Identity shares from $31.00 to $29.00 in a Thursday, May 5 research report. Finally, DA Davidson threw some coverage on Ping Identity stock in a research note on Tuesday, April 12. They issued a “buy” rating and a price target of $38.00 on the stock. Five investment analysts gave the stock a hold rating, ten gave the company a buy rating and one gave the company a strong buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $32.33.
PING stock opened at $18.20 on Thursday. The company has a debt ratio of 0.40, a quick ratio of 3.39 and a current ratio of 3.39. The company’s 50-day simple moving average is $24.87 and its 200-day simple moving average is $23.28. Ping Identity has a 52-week minimum of $17.25 and a 52-week maximum of $30.40. The company has a market capitalization of $1.55 billion, a PE ratio of -22.20 and a beta of 1.08.
Ping Identity (NYSE:PING – Get Rating) last released its quarterly earnings data on Wednesday, May 4. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.07. Ping Identity had a negative net margin of 21.80% and a negative return on equity of 4.99%. The company posted revenue of $84.69 million in the quarter, compared to $80.60 million expected by analysts. In the same quarter a year earlier, the company posted ($0.12) earnings per share. Ping Identity revenue increased 22.8% compared to the same quarter last year. On average, analysts expect Ping Identity to post -0.75 EPS for the current year.
About Ping Identity (Get a rating)
Ping Identity Holding Corp., doing business as Ping Identity Corporation, provides intelligent identity solutions for businesses in the United States and internationally. Its Ping Intelligent Identity platform provides access to cloud, mobile, Software-as-a-Service and on-premises applications with customers, workforce and partners.
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