Finjan (FNJN) Trading Down 17.8% After Insider Selling

Finjan Holdings Inc (NASDAQ:FNJN) shares traded down 17.8% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $3.66 and last traded at $4.11. 1,813,565 shares were traded during mid-day trading, an increase of 260% from the average session volume of 503,192 shares. The stock had previously closed at $5.00.

Specifically, Director Daniel Robert Chinn sold 5,000 shares of the business’s stock in a transaction dated Monday, October 8th. The stock was sold at an average price of $5.48, for a total transaction of $27,400.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $27,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Philip Hartstein sold 33,750 shares of the business’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $5.01, for a total value of $169,087.50. Following the transaction, the chief executive officer now directly owns 72,750 shares of the company’s stock, valued at approximately $364,477.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,752 shares of company stock valued at $735,158. 8.81% of the stock is currently owned by corporate insiders.

Several research firms recently weighed in on FNJN. ValuEngine raised Finjan from a “hold” rating to a “buy” rating in a research report on Monday, October 8th. TheStreet raised Finjan from a “c+” rating to a “b-” rating in a research report on Tuesday, August 14th.

The stock has a market capitalization of $117.42 million, a price-to-earnings ratio of 11.69 and a beta of -0.69.

Finjan (NASDAQ:FNJN) last posted its quarterly earnings data on Thursday, August 2nd. The software maker reported $0.24 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.30. The business had revenue of $17.30 million for the quarter, compared to analyst estimates of $7.50 million. Research analysts predict that Finjan Holdings Inc will post 1.49 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Southpaw Asset Management LP raised its holdings in Finjan by 4.0% in the 2nd quarter. Southpaw Asset Management LP now owns 2,622,389 shares of the software maker’s stock valued at $8,916,000 after acquiring an additional 100,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Finjan by 42.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 802,012 shares of the software maker’s stock valued at $2,727,000 after acquiring an additional 237,555 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Finjan by 244.9% in the 2nd quarter. Acadian Asset Management LLC now owns 492,314 shares of the software maker’s stock valued at $1,674,000 after acquiring an additional 349,576 shares in the last quarter. Equitec Proprietary Markets LLC raised its holdings in Finjan by 133.2% in the 2nd quarter. Equitec Proprietary Markets LLC now owns 350,168 shares of the software maker’s stock valued at $1,191,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Finjan in the 2nd quarter valued at approximately $880,000. 55.79% of the stock is owned by institutional investors and hedge funds.

About Finjan (NASDAQ:FNJN)

Finjan Holdings, Inc, a cybersecurity company, provides intellectual property licensing and enforcement services in the United States and internationally. The company owns a portfolio of patents related to software and hardware technologies that proactively detect malicious code and thereby protects end users from identity and data theft, spyware, malware, phishing, Trojans, and other Web and network threats.

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