FireEye (NASDAQ:FEYE) Trading 6% Higher After Insider Buying Activity

Thursday, June 10, 2021 | MarketBeat

Shares of FireEye, Inc. (NASDAQ:FEYE) shot up 6% during trading on Thursday after an insider bought additional shares in the company. The company traded as high as $21.34 and last traded at $21.21. 336,535 shares were traded during mid-day trading, a decline of 94% from the average session volume of 5,208,812 shares. The stock had previously closed at $20.01.Specifically, CFO Frank Verdecanna sold 87,992 shares of the firm's stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $19.38, for a total transaction of $1,705,284.96. Following the transaction, the chief financial officer now directly owns 665,372 shares of the company's stock, valued at $12,894,909.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Arthur W. Coviello, Jr. acquired 10,000 shares of the company's stock in a transaction on Wednesday, June 9th. The stock was acquired at an average price of $20.18 per share, with a total value of $201,800.00. Following the purchase, the director now directly owns 28,922 shares in the company, valued at $583,645.96. The disclosure for this purchase can be found here. Company insiders own 2.10% of the company's stock.

A number of research firms have commented on FEYE. Zacks Investment Research upgraded FireEye from a "sell" rating to a "hold" rating and set a $21.00 price objective on the stock in a research note on Tuesday, April 6th. Mizuho upped their price objective on shares of FireEye from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 28th. Finally, Barclays raised their target price on shares of FireEye from $21.00 to $22.00 and gave the company an "underweight" rating in a report on Wednesday, April 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of "Hold" and an average target price of $21.25.

The company has a quick ratio of 2.13, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock has a market cap of $5.05 billion, a P/E ratio of -25.55 and a beta of 1.12. The firm's 50 day simple moving average is $20.40.

FireEye (NASDAQ:FEYE) last posted its earnings results on Tuesday, April 27th. The information security company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The firm had revenue of $246.00 million during the quarter, compared to the consensus estimate of $237.00 million. FireEye had a negative net margin of 18.88% and a negative return on equity of 9.48%. FireEye's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) earnings per share. As a group, research analysts forecast that FireEye, Inc. will post -0.33 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Advisory Services Network LLC grew its holdings in FireEye by 3.7% during the 1st quarter. Advisory Services Network LLC now owns 14,916 shares of the information security company's stock worth $292,000 after acquiring an additional 531 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of FireEye by 9.0% in the first quarter. Principal Financial Group Inc. now owns 17,779 shares of the information security company's stock worth $348,000 after purchasing an additional 1,475 shares during the last quarter. Squarepoint Ops LLC increased its holdings in FireEye by 265.3% in the first quarter. Squarepoint Ops LLC now owns 313,225 shares of the information security company's stock valued at $6,130,000 after purchasing an additional 227,476 shares during the period. Oppenheimer Asset Management Inc. raised its position in FireEye by 6.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 28,851 shares of the information security company's stock worth $565,000 after purchasing an additional 1,863 shares during the last quarter. Finally, Eaton Vance Management lifted its holdings in FireEye by 199.1% during the 1st quarter. Eaton Vance Management now owns 361,493 shares of the information security company's stock worth $7,074,000 after buying an additional 240,652 shares during the period. Institutional investors and hedge funds own 80.70% of the company's stock.

About FireEye (NASDAQ:FEYE)

FireEye, Inc provides intelligence-based cybersecurity solutions to prepare for, prevent, investigate, respond to, and remediate cyber-attacks in organizations. Its FireEye products include network, email, endpoint, and cloud security control products to detect and prevent threats; Dynamic Threat Intelligence Cloud, a bi-directional cloud-based service; Helix Security Operations Platform, a cloud-hosted security operations platform; Cloudvisory cloud security products; and customer support and maintenance services.

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