Short Interest in FireEye, Inc. (FEYE) Drops By 7.5%
FireEye, Inc. (NASDAQ:FEYE) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 25,465,511 shares, a drop of 7.5% from the October 13th total of 27,525,288 shares. Currently, 14.9% of the company’s shares are sold short. Based on an average trading volume of 3,009,224 shares, the days-to-cover ratio is presently 8.5 days.
FEYE has been the subject of several recent analyst reports. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $19.00 target price on shares of FireEye in a research note on Wednesday, August 23rd. BidaskClub cut FireEye from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reissued a “buy” rating and set a $20.00 target price on shares of FireEye in a research note on Wednesday, August 2nd. Stephens raised FireEye from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $16.00 to $22.00 in a research note on Monday, September 11th. Finally, Deutsche Bank AG raised their target price on FireEye from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.22.
Shares of FireEye (FEYE) opened at $13.69 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 1.99 and a debt-to-equity ratio of 1.00. FireEye has a fifty-two week low of $10.35 and a fifty-two week high of $18.00.
FireEye (NASDAQ:FEYE) last announced its quarterly earnings results on Wednesday, November 1st. The information security company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. The company had revenue of $189.60 million during the quarter, compared to the consensus estimate of $186.41 million. FireEye had a negative return on equity of 23.71% and a negative net margin of 39.29%. FireEye’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.18) EPS. equities research analysts anticipate that FireEye will post -1.06 earnings per share for the current fiscal year.
In other FireEye news, EVP Alexa King sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $18.00, for a total transaction of $450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Travis M. Reese sold 11,555 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $17.50, for a total value of $202,212.50. Following the sale, the president now directly owns 508,210 shares of the company’s stock, valued at approximately $8,893,675. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,000 shares of company stock valued at $2,200,000. 2.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in FireEye by 30.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,623 shares of the information security company’s stock worth $101,000 after buying an additional 1,528 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in FireEye by 15.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,134 shares of the information security company’s stock worth $141,000 after buying an additional 1,252 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new stake in FireEye during the 2nd quarter worth about $142,000. FNY Partners Fund LP lifted its holdings in FireEye by 900.0% during the 2nd quarter. FNY Partners Fund LP now owns 10,000 shares of the information security company’s stock worth $152,000 after buying an additional 9,000 shares during the last quarter. Finally, Exane Derivatives purchased a new stake in shares of FireEye in the 3rd quarter valued at about $168,000. 67.12% of the stock is owned by institutional investors.
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FireEye, Inc provides intelligence-based cybersecurity solutions that allow organizations to prepare for, prevent, respond to and remediate cyber-attacks. The Company offers various products, such as Threat Detection and Prevention Solutions, which include network security products (NX and Multi-vector Virtual Execution (MVX) Compute Node Series), e-mail security products (EX Series and e-mail threat prevention cloud (ETP), endpoint security products (HX Series) and content security products (FX Series); security management and orchestration products, which include Central Management System and FireEye Security Orchestrator, and forensics and investigation products, which include Threat Analytics Platform (TAP), Malware Analysis (AX Series) and Enterprise Forensics (PX Series and IA Series).
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