Stock traders buy large volume of Ping Identity put options (NYSE:PING)


Ping Identity Holding Corp. (NYSE:PING – Get Rating) saw unusually heavy options trading activity on Wednesday. Equity investors bought 2,002 put options on the company. This represents an increase of approximately 877% over the average daily volume of 205 put options.

PING shares opened at $27.25 on Thursday. The company has a debt ratio of 0.39, a current ratio of 3.30 and a quick ratio of 3.30. Ping Identity has a 1-year minimum of $17.60 and a 1-year maximum of $30.40. The company’s fifty-day moving average is $24.91 and its two-hundred-day moving average is $23.64.

Ping Identity (NYSE:PING – Get Rating) last released its quarterly results on Wednesday, May 4. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.13) by $0.07. The company posted revenue of $84.69 million for the quarter, versus analyst estimates of $80.60 million. Ping Identity had a negative net margin of 21.50% and a negative return on equity of 4.65%. The company’s revenues increased by 22.8% compared to the same quarter last year. In the same period a year earlier, the company posted ($0.12) earnings per share. On average, sell-side analysts predict Ping Identity will post -0.56 earnings per share for the current year.

Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Ping Identity from a “held” rating to a “strong sell” rating in a Tuesday, March 8 research report. Piper Sandler raised her price target on Ping Identity shares from $25.00 to $30.00 and gave the company a “neutral” rating in a Thursday, Jan. 6 research note. Deutsche Bank Aktiengesellschaft cut its price target on Ping Identity from $25.00 to $21.00 and set a “hold” rating on the stock in a Friday, Feb. 25 research report. Stifel Nicolaus upgraded Ping Identity from a “hold” rating to a “buy” rating and raised its target price for the company from $25.00 to $30.00 in a Thursday, March 24 research report. Finally, BTIG Research cut its price target on Ping Identity from $37.00 to $30.00 and set a “buy” rating on the stock in a Monday, February 14 research report. One analyst has assigned the stock a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned the company a high buy rating. According to data from MarketBeat.com, Ping Identity has a consensus rating of “Buy” and an average target price of $32.27.

In other news, COO Bryan Kristian Nagel sold 59,000 shares of the company in a trade dated Wednesday, April 13. The stock was 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 SEC, which is available at 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 value of $2,604,000.00. The disclosure of this sale can be found here. Insiders sold 224,564 shares of the company valued at $6,259,867 during the last quarter. 2.89% of the shares are held by insiders.

Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Morgan Stanley increased its equity stake in Ping Identity by 429.6% in Q2. Morgan Stanley now owns 360,856 shares of the company valued at $8,263,000 after purchasing an additional 292,716 shares during the period. The New York State Common Retirement Fund increased its position in Ping Identity by 69.9% in the third quarter. The New York State Common Retirement Fund now owns 271,250 shares of the company worth $6,665,000 after acquiring 111,579 additional shares in the last quarter. Advisor Group Holdings Inc. increased its stake in Ping Identity by 72.0% in the third quarter. Advisor Group Holdings Inc. now owns 16,336 shares of the company valued at $407,000 after acquiring an additional 6,838 shares during the period. Russell Investments Group Ltd. increased its position in Ping Identity shares by 236.5% during the third quarter. Russell Investments Group Ltd. now owns 63,455 shares of the company worth $1,557,000 after purchasing an additional 44,597 shares in the last quarter. Finally, the Swiss National Bank increased its stake in Ping Identity shares by 1.1% during the 3rd quarter. The Swiss National Bank now owns 99,700 shares of the company worth $2,450,000 after purchasing an additional 1,100 shares during the period. Institutional investors hold 84.31% of the company’s shares.

Ping Identity Company Profile (Get an assessment)

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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