Walleye Capital LLC Lowers Stock Position in Ping Identity Holding Corp. (NYSE:PING)

Walleye Capital LLC cut its stake in shares of Ping Identity Holding Corp. (NYSE:PINGGet Rating) by 71.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,952 shares of the company’s stock after selling 39,745 shares during the quarter. Walleye Capital LLC’s holdings in Ping Identity were worth $438,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Ensign Peak Advisors Inc raised its stake in shares of Ping Identity by 175.3% during the 1st quarter. Ensign Peak Advisors Inc now owns 2,230 shares of the company’s stock worth $61,000 after acquiring an additional 1,420 shares in the last quarter. Exane Derivatives increased its position in shares of Ping Identity by 229.8% during the first 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 period. Alpha Paradigm Partners LLC purchased a new position in Ping Identity in the fourth quarter valued at $198,000. Keybank National Association OH acquired a new stake in shares of Ping Identity during the first quarter worth about $249,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Ping Identity in the fourth quarter valued at approximately $316,000. 92.18% of the stock is currently owned by institutional investors.

Ping Identity Stock Performance

NYSE:PING opened at $28.25 on Friday. The company has a fifty day moving average of $25.55 and a two-hundred day moving average of $23.26. The stock has a market capitalization of $2.43 billion, a PE ratio of -22.60 and a beta of 0.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.01 and a current ratio of 3.01. Ping Identity Holding Corp. has a fifty-two week low of $15.85 and a fifty-two week high of $30.40.

Ping Identity (NYSE:PINGGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.22). Ping Identity had a negative return on equity of 9.91% and a negative net margin of 34.24%. The company had revenue of $72.00 million for the quarter, compared to analysts’ expectations of $73.30 million. During the same period in the prior year, the company posted ($0.04) EPS. The firm’s revenue was down 8.7% compared to the same quarter last year. As a group, research analysts forecast that Ping Identity Holding Corp. will post -0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

PING has been the topic of a number of recent analyst reports. Raymond James lowered Ping Identity from a “strong-buy” rating to a “market perform” rating in a report on Thursday, July 28th. William Blair downgraded shares of Ping Identity from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 3rd. KeyCorp cut shares of Ping Identity to a “sector weight” rating in a research note on Tuesday, August 9th. Bank of America downgraded shares of Ping Identity from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $28.00 to $19.00 in a report on Friday, July 29th. Finally, Royal Bank of Canada decreased their price objective on Ping Identity from $33.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, August 1st. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.82.

Insider Activity

In related news, CEO Andre Wong Durand sold 100,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $27.87, for a total transaction of $2,787,000.00. Following the transaction, the chief executive officer now directly owns 502,416 shares in the company, valued at $14,002,333.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.89% of the company’s stock.

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

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