Short Interest in FireEye Inc (FEYE) Decreases By 12.0%

FireEye Inc (NASDAQ:FEYE) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 15,848,738 shares, a decline of 12.0% from the February 15th total of 18,015,946 shares. Based on an average daily volume of 3,551,616 shares, the short-interest ratio is currently 4.5 days. Currently, 8.1% of the shares of the company are short sold.

Shares of FEYE stock opened at $16.84 on Friday. The stock has a market capitalization of $3.44 billion, a P/E ratio of -23.39 and a beta of 0.96. FireEye has a 52-week low of $14.20 and a 52-week high of $20.61. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.03 and a current ratio of 2.04.

FireEye (NASDAQ:FEYE) last issued its quarterly earnings results on Wednesday, February 6th. The information security company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. FireEye had a negative return on equity of 21.37% and a negative net margin of 29.26%. The firm had revenue of $217.53 million for the quarter, compared to analysts’ expectations of $216.79 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that FireEye will post -0.51 EPS for the current fiscal year.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded FireEye from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Monday. BidaskClub upgraded FireEye from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. Zacks Investment Research cut FireEye from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Wedbush dropped their price target on FireEye from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, February 8th. Finally, Morgan Stanley cut FireEye from an “overweight” rating to an “equal weight” rating and set a $21.00 price target on the stock. in a research report on Thursday, December 13th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. FireEye has a consensus rating of “Hold” and an average price target of $19.66.

In other news, EVP Alexa King sold 50,697 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $16.71, for a total value of $847,146.87. Following the completion of the sale, the executive vice president now directly owns 508,216 shares of the company’s stock, valued at approximately $8,492,289.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Frank Verdecanna sold 55,775 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $16.71, for a total value of $932,000.25. Following the completion of the transaction, the chief financial officer now owns 501,644 shares in the company, valued at approximately $8,382,471.24. The disclosure for this sale can be found here. Insiders sold a total of 208,255 shares of company stock valued at $3,479,941 over the last three months. Company insiders own 2.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FEYE. Point72 Asset Management L.P. acquired a new position in FireEye during the 3rd quarter worth approximately $75,475,000. Two Sigma Investments LP acquired a new position in FireEye during the 4th quarter worth approximately $54,563,000. Norges Bank acquired a new position in FireEye during the 4th quarter worth approximately $40,018,000. Two Sigma Advisers LP acquired a new position in FireEye during the 4th quarter worth approximately $22,171,000. Finally, Jennison Associates LLC acquired a new position in FireEye during the 4th quarter worth approximately $14,470,000. Institutional investors own 74.99% of the company’s stock.

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About FireEye

FireEye, Inc provides cybersecurity solutions that allow organizations to prepare for, prevent, respond to, and remediate cyber-attacks. It offers vector-specific appliance, virtual appliance, and cloud-based solutions to detect and block known and unknown cyber-attacks. The company provides threat detection and prevention solutions, including network security products, email security solutions, and endpoint security solutions.

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