FireEye Inc (NASDAQ:FEYE) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 20,735,788 shares, an increase of 8.6% from the August 15th total of 19,102,164 shares. Currently, 11.0% of the company’s stock are short sold. Based on an average daily trading volume, of 5,120,007 shares, the days-to-cover ratio is presently 4.0 days.
In related news, President Travis M. Reese sold 3,201 shares of FireEye stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $14.46, for a total value of $46,286.46. Following the sale, the president now owns 715,060 shares of the company’s stock, valued at approximately $10,339,767.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Frank Verdecanna sold 11,219 shares of FireEye stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $14.46, for a total value of $162,226.74. The disclosure for this sale can be found here. In the last three months, insiders sold 20,820 shares of company stock worth $301,057. 2.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. boosted its stake in FireEye by 100.0% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,000,378 shares of the information security company’s stock valued at $92,346,000 after purchasing an additional 3,000,051 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of FireEye by 18.6% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,320,235 shares of the information security company’s stock valued at $35,708,000 after acquiring an additional 363,900 shares during the period. Fisher Asset Management LLC lifted its position in shares of FireEye by 8.1% during the 2nd quarter. Fisher Asset Management LLC now owns 2,272,111 shares of the information security company’s stock valued at $34,968,000 after acquiring an additional 170,299 shares during the period. Renaissance Technologies LLC lifted its position in shares of FireEye by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,190,466 shares of the information security company’s stock valued at $33,711,000 after acquiring an additional 368,666 shares during the period. Finally, Millennium Management LLC lifted its position in shares of FireEye by 125.8% during the 2nd quarter. Millennium Management LLC now owns 1,509,436 shares of the information security company’s stock valued at $23,230,000 after acquiring an additional 841,080 shares during the period. Institutional investors and hedge funds own 69.92% of the company’s stock.
FEYE traded up $0.26 during trading on Tuesday, hitting $16.69. The stock had a trading volume of 3,943,800 shares, compared to its average volume of 3,845,827. The company has a market capitalization of $3.32 billion, a PE ratio of -15.15 and a beta of 0.38. FireEye has a one year low of $13.40 and a one year high of $19.36. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.03 and a quick ratio of 2.02.
FireEye (NASDAQ:FEYE) last released its quarterly earnings results on Wednesday, August 1st. The information security company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The business had revenue of $203.00 million during the quarter, compared to the consensus estimate of $201.54 million. FireEye had a negative return on equity of 25.26% and a negative net margin of 37.13%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. Equities analysts anticipate that FireEye will post -0.79 earnings per share for the current fiscal year.
Several research analysts have weighed in on FEYE shares. Zacks Investment Research raised FireEye from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, August 8th. Goldman Sachs Group set a $22.00 price target on FireEye and gave the stock a “buy” rating in a research report on Thursday, October 4th. Piper Jaffray Companies upgraded FireEye from a “neutral” rating to an “overweight” rating and set a $24.00 target price for the company in a research note on Monday, July 9th. ValuEngine downgraded FireEye from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Finally, BidaskClub upgraded FireEye from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $19.72.
FireEye Company Profile
FireEye, Inc provides cybersecurity solutions that allow organizations to prepare for, prevent, respond to, and remediate cyber-attacks. It offers vector-specific appliance, virtual appliance, and cloud-based solutions to detect and block known and unknown cyber-attacks. The company provides threat detection and prevention solutions, including network security products, email security solutions, and endpoint security solutions.
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