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

Ping Identity Holding Corp. (NYSE:PING – Get Rating) was the recipient of some unusual options trading activity on Wednesday. Equity investors bought 2,002 put options on the company. This is an 877% increase from the typical daily volume of 205 puts.

Several stock analysts have recently commented on the company. DA Davidson assumed cover for Ping Identity in a research note on Tuesday, April 12. They issued a “buy” rating and a target price of $38.00 for the company. Wells Fargo & Company raised its price target on Ping Identity shares from $28.00 to $35.00 and gave the company an “overweight” rating in a Wednesday, March 30 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 report. Mizuho reduced its target price on Ping Identity from $31.00 to $29.00 in a Thursday, May 5 report. Finally, Goldman Sachs Group raised its price target on Ping Identity from $28.00 to $31.00 and gave the company a “buy” rating in a Tuesday, April 12 report. Five research analysts gave the stock a hold rating, ten issued a buy rating and one issued a strong buy rating to the company’s stock. According to, the company has a consensus rating of “Buy” and an average price target of $32.33.

Ping Identity stock opened Thursday at $19.43. The company has a 50-day simple moving average of $24.31 and a 200-day simple moving average of $22.61. The company has a market capitalization of $1.66 billion, a P/E ratio of -23.70 and a beta of 1.08. The company has a debt ratio of 0.40, a quick ratio of 3.39 and a current ratio of 3.39. Ping Identity has a one-year minimum of $17.25 and a one-year maximum of $30.40.

Ping Identity (NYSE:PING – Get Rating) last released its quarterly results on Wednesday, May 4. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.07. The company posted revenue of $84.69 million in the quarter, versus analyst estimates of $80.60 million. Ping Identity had a negative net margin of 21.80% and a negative return on equity of 4.99%. The company’s quarterly revenue increased 22.8% year over year. In the same quarter of the previous year, the company had earned earnings per share of ($0.12). As a group, sell-side analysts expect Ping Identity to post -0.75 earnings per share for the current year.

Separately, CFO Raj M. Dani sold 26,564 shares in a trade on Wednesday, April 13. The stock was sold at an average price of $29.48, for a total transaction of $783,106.72. Following the sale, the CFO now owns 472,214 shares of the company, valued at $13,920,868.72. The transaction was disclosed in a filing with the SEC, accessible via this hyperlink. Additionally, COO Bryan Kristian Nagel sold 59,000 shares in a trade on Wednesday, April 13. The shares were sold at an average price of $30.07, for a total value of $1,774,130.00. Following the sale, the COO now directly owns 473,387 shares of the company, valued at approximately $14,234,747.09. The disclosure of this sale can be found here. In the past three months, insiders have sold 224,564 shares of the company worth $6,259,867. 2.89% of the shares are held by insiders.

Several hedge funds and other institutional investors have recently changed their holdings of PING. Ensign Peak Advisors Inc increased its position in Ping Identity shares by 175.3% during the first quarter. Ensign Peak Advisors Inc now owns 2,230 shares of the company worth $61,000 after purchasing an additional 1,420 shares during the period. Exane Derivatives increased its equity stake in Ping Identity by 229.8% during the first quarter. Exane Derivatives now owns 4,166 shares of the company valued at $114,000 after purchasing an additional 2,903 shares last quarter. Alpha Paradigm Partners LLC purchased a new stake in Ping Identity stock during the fourth quarter worth approximately $198,000. Zurcher Kantonalbank Zurcher Kantonalbank increased its stake in Ping Identity shares to 95.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,899 shares of the company valued at $204,000 after buying an additional 4,341 shares last quarter. Finally, Tudor Investment Corp Et Al purchased a new equity stake in Ping Identity during the third quarter valued at approximately $205,000. Institutional investors and hedge funds hold 84.31% of the company’s shares.

About Ping Identity (Get an evaluation)

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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