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

Ping Identity Holding Corp. (NYSE:PINGGet Rating) saw unusually large options trading activity on Wednesday. Stock traders bought 2,002 put options on the company. This represents an increase of 877% compared to the average daily volume of 205 put options.

Shares of Ping Identity stock opened at $27.25 on Thursday. The business has a 50 day simple moving average of $24.91 and a two-hundred day simple moving average of $23.64. Ping Identity has a 12 month low of $17.60 and a 12 month high of $30.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.30 and a quick ratio of 3.30.

Ping Identity (NYSE:PINGGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.07. Ping Identity had a negative return on equity of 4.65% and a negative net margin of 21.50%. The firm had revenue of $84.69 million during the quarter, compared to the consensus estimate of $80.60 million. During the same period in the prior year, the company earned ($0.12) EPS. The firm’s revenue was up 22.8% compared to the same quarter last year. On average, research analysts predict that Ping Identity will post -0.56 EPS for the current fiscal year.

PING has been the topic of several recent research reports. Zacks Investment Research lowered shares of Ping Identity from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 8th. Stifel Nicolaus raised Ping Identity from a “hold” rating to a “buy” rating and raised their target price for the stock from $25.00 to $30.00 in a report on Thursday, March 24th. Deutsche Bank Aktiengesellschaft decreased their price target on Ping Identity from $25.00 to $21.00 and set a “hold” rating for the company in a report on Friday, February 25th. DA Davidson assumed coverage on shares of Ping Identity in a research note on Tuesday, April 12th. They set a “buy” rating and a $38.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on shares of Ping Identity from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, March 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $32.27.

In other Ping Identity news, COO Bryan Kristian Nagel sold 59,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $30.07, for a total transaction of $1,774,130.00. Following the completion of the transaction, the chief operating officer now directly owns 473,387 shares of the company’s stock, valued at approximately $14,234,747.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Raj M. Dani sold 26,564 shares of Ping Identity stock in a transaction that occurred 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 sale, the chief financial officer now owns 472,214 shares of the company’s stock, valued at $13,920,868.72. The disclosure for this sale can be found here. Insiders sold a total of 224,564 shares of company stock valued at $6,259,867 over the last quarter. 2.89% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Ping Identity during the third quarter worth approximately $49,000. Exane Derivatives increased its stake in shares of Ping Identity by 229.8% in the 1st quarter. Exane Derivatives now owns 4,166 shares of the company’s stock worth $114,000 after acquiring an additional 2,903 shares during the last quarter. Tudor Investment Corp Et Al purchased a new position in shares of Ping Identity during the 3rd quarter worth $205,000. Alpha Paradigm Partners LLC acquired a new position in shares of Ping Identity during the 4th quarter valued at about $198,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ping Identity by 95.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,899 shares of the company’s stock worth $204,000 after purchasing an additional 4,341 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Ping Identity Company Profile (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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