Steward Partners Investment Advisory LLC Sells 2,168 Shares of Ping Identity Holding Corp. (NYSE:PING)

Steward Partners Investment Advisory LLC trimmed its stake in shares of Ping Identity Holding Corp. (NYSE:PINGGet Rating) by 37.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,681 shares of the company’s stock after selling 2,168 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Ping Identity were worth $101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Emerald Advisers LLC boosted its position in Ping Identity by 20.4% during the first quarter. Emerald Advisers LLC now owns 834,983 shares of the company’s stock worth $22,904,000 after purchasing an additional 141,296 shares during the period. Gratus Capital LLC boosted its position in Ping Identity by 4.7% during the first quarter. Gratus Capital LLC now owns 315,884 shares of the company’s stock worth $8,665,000 after purchasing an additional 14,065 shares during the period. Davy Global Fund Management Ltd boosted its position in shares of Ping Identity by 25.1% in the first quarter. Davy Global Fund Management Ltd now owns 194,975 shares of the company’s stock valued at $5,348,000 after acquiring an additional 39,103 shares during the period. Keybank National Association OH bought a new stake in shares of Ping Identity in the first quarter valued at about $249,000. Finally, Handelsinvest Investeringsforvaltning boosted its position in shares of Ping Identity by 46.7% in the first quarter. Handelsinvest Investeringsforvaltning now owns 220,000 shares of the company’s stock valued at $6,035,000 after acquiring an additional 70,000 shares during the period. 84.31% of the stock is owned by institutional investors.

Ping Identity Stock Up 1.7 %

Shares of NYSE PING opened at $17.47 on Wednesday. The stock has a 50-day moving average price of $18.68 and a two-hundred day moving average price of $21.17. Ping Identity Holding Corp. has a 12 month low of $15.85 and a 12 month high of $30.40. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -20.94 and a beta of 0.96.

Ping Identity (NYSE:PINGGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Ping Identity had a negative net margin of 21.80% and a negative return on equity of 4.99%. The firm had revenue of $84.69 million during the quarter, compared to analyst estimates of $80.60 million. During the same period in the prior year, the company earned ($0.12) EPS. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. As a group, analysts forecast that Ping Identity Holding Corp. will post -0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PING. Raymond James cut shares of Ping Identity from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, July 28th. The Goldman Sachs Group boosted their target price on shares of Ping Identity from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, April 12th. Bank of America cut shares of Ping Identity from a “buy” rating to a “neutral” rating and reduced their target price for the company from $28.00 to $19.00 in a research report on Friday, July 29th. KeyCorp dropped their price target on Ping Identity from $34.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Finally, Wells Fargo & Company dropped their price target on Ping Identity from $35.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.87.

About Ping Identity

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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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Institutional Ownership by Quarter for Ping Identity (NYSE:PING)

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