Ping Identity Target of Unusually High Options Trading (NYSE:PING)

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Ping Identity Holding Corp. (NYSE:PINGGet Rating) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 2,002 put options on the company. This represents an increase of approximately 877% compared to the average volume of 205 put options.

In other news, CEO Andre Wong Durand sold 100,000 shares of the firm’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of $26.04, for a total transaction of $2,604,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Raj M. Dani sold 26,564 shares of the firm’s stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $29.48, for a total transaction of $783,106.72. Following the transaction, the chief financial officer now directly owns 472,214 shares of the company’s stock, valued at approximately $13,920,868.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 224,564 shares of company stock worth $6,259,867. Company insiders own 2.89% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ping Identity by 19.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 888,848 shares of the company’s stock worth $24,381,000 after buying an additional 145,808 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Ping Identity by 14.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,202,459 shares of the company’s stock worth $32,983,000 after acquiring an additional 149,581 shares during the period. Weiss Multi Strategy Advisers LLC purchased a new position in Ping Identity in the 1st quarter worth approximately $2,012,000. Jane Street Group LLC purchased a new position in shares of Ping Identity during the 1st quarter valued at approximately $496,000. Finally, Royal Bank of Canada boosted its stake in shares of Ping Identity by 23.6% during the 1st quarter. Royal Bank of Canada now owns 83,291 shares of the company’s stock valued at $2,285,000 after buying an additional 15,920 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

Shares of NYSE:PING opened at $17.01 on Thursday. Ping Identity has a 1 year low of $16.42 and a 1 year high of $30.40. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -20.74 and a beta of 1.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.39 and a quick ratio of 3.39. The business’s 50 day moving average price is $22.74 and its 200-day moving average price is $22.14.

Ping Identity (NYSE:PINGGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. The business had revenue of $84.69 million during the quarter, compared to the consensus estimate of $80.60 million. Ping Identity had a negative return on equity of 4.99% and a negative net margin of 21.80%. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period last year, the company earned ($0.12) EPS. On average, sell-side analysts expect that Ping Identity will post -0.8 earnings per share for the current year.

Several research firms recently weighed in on PING. DA Davidson started coverage on shares of Ping Identity in a report on Tuesday, April 12th. They set a “buy” rating and a $38.00 price target on the stock. KeyCorp assumed coverage on shares of Ping Identity in a research note on Monday, April 4th. They issued an “overweight” rating and a $34.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Ping Identity from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, February 25th. Stifel Nicolaus raised shares of Ping Identity from a “hold” rating to a “buy” rating and upped their price objective for the company from $25.00 to $30.00 in a research note on Thursday, March 24th. Finally, Wells Fargo & Company increased their price target on shares of Ping Identity from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, March 30th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ping Identity presently has an average rating of “Buy” and an average price target of $33.00.

About Ping Identity (Get Rating)

Ping Identity Holding Corp., doing business as Ping Identity Corporation, offers intelligent identity solutions for the enterprise in the United States and internationally. Its Ping Intelligent Identity platform provides access to cloud, mobile, Software-as-a-Service, and on-premise applications with customers, workforce, and partners.

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