FireEye Inc (FEYE) Stake Lessened by Ivory Investment Management LLC
Ivory Investment Management LLC reduced its holdings in shares of FireEye Inc (NASDAQ:FEYE) by 13.1% during the second quarter, HoldingsChannel reports. The firm owned 2,002,636 shares of the information security company’s stock after selling 300,986 shares during the period. FireEye comprises 6.2% of Ivory Investment Management LLC’s portfolio, making the stock its 7th biggest holding. Ivory Investment Management LLC’s holdings in FireEye were worth $30,820,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Asset Management One Co. Ltd. lifted its holdings in FireEye by 56.9% in the first quarter. Asset Management One Co. Ltd. now owns 7,800 shares of the information security company’s stock valued at $132,000 after acquiring an additional 2,830 shares during the period. Denver Investment Advisors LLC lifted its holdings in FireEye by 7.6% in the first quarter. Denver Investment Advisors LLC now owns 43,023 shares of the information security company’s stock valued at $728,000 after acquiring an additional 3,025 shares during the period. Creative Planning lifted its holdings in FireEye by 0.9% in the second quarter. Creative Planning now owns 348,391 shares of the information security company’s stock valued at $5,362,000 after acquiring an additional 3,148 shares during the period. Essex Investment Management Co. LLC lifted its holdings in FireEye by 17.1% in the second quarter. Essex Investment Management Co. LLC now owns 21,859 shares of the information security company’s stock valued at $336,000 after acquiring an additional 3,192 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in FireEye by 9.8% in the second quarter. Voya Investment Management LLC now owns 52,688 shares of the information security company’s stock valued at $811,000 after acquiring an additional 4,721 shares during the period. 70.01% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on FEYE shares. ValuEngine downgraded FireEye from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Piper Jaffray Companies raised FireEye from a “neutral” rating to an “overweight” rating and set a $24.00 price objective on the stock in a research note on Monday, July 9th. BidaskClub downgraded FireEye from a “sell” rating to a “strong sell” rating in a research note on Friday, August 17th. Evercore ISI reaffirmed a “buy” rating and issued a $22.00 price objective on shares of FireEye in a research note on Thursday, August 23rd. Finally, Zacks Investment Research downgraded FireEye from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. FireEye presently has an average rating of “Hold” and a consensus price target of $19.62.
FireEye (NASDAQ:FEYE) last released its earnings results on Wednesday, August 1st. The information security company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.01. FireEye had a negative return on equity of 25.26% and a negative net margin of 37.13%. The firm had revenue of $203.00 million during the quarter, compared to analysts’ expectations of $201.54 million. During the same quarter last year, the business posted ($0.04) earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. research analysts anticipate that FireEye Inc will post -0.79 EPS for the current year.
In other FireEye news, CEO Kevin R. Mandia sold 15,701 shares of the firm’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $16.95, for a total transaction of $266,131.95. Following the completion of the transaction, the chief executive officer now owns 3,103,942 shares in the company, valued at approximately $52,611,816.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Frank Verdecanna sold 11,219 shares of the firm’s 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. Insiders have sold 36,521 shares of company stock valued at $567,189 in the last quarter. 2.40% of the stock is currently owned by company insiders.
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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