Tufin Software Technologies Ltd (NYSE:TUFN) Short Interest Update

Tufin Software Technologies Ltd (NYSE:TUFN) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 858,400 shares, a drop of 10.7% from the July 31st total of 961,300 shares. Based on an average daily volume of 330,200 shares, the days-to-cover ratio is currently 2.6 days. Approximately 8.6% of the shares of the company are sold short.

Shares of Tufin Software Technologies stock traded up $0.40 during trading on Friday, reaching $17.71. The company’s stock had a trading volume of 200,393 shares, compared to its average volume of 327,536. Tufin Software Technologies has a 12-month low of $15.15 and a 12-month high of $31.04. The business’s 50 day simple moving average is $18.47.

Tufin Software Technologies (NYSE:TUFN) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.06. The business had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.99 million. The business’s revenue was up 35.7% compared to the same quarter last year. Research analysts expect that Tufin Software Technologies will post -0.79 EPS for the current fiscal year.

Several brokerages have weighed in on TUFN. Barclays reiterated a “buy” rating and issued a $34.00 target price on shares of Tufin Software Technologies in a research note on Thursday, July 18th. Zacks Investment Research upgraded Tufin Software Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Tufin Software Technologies currently has a consensus rating of “Buy” and an average price target of $29.57.

Several institutional investors have recently bought and sold shares of the stock. ETF Managers Group LLC purchased a new stake in shares of Tufin Software Technologies in the second quarter valued at approximately $39,079,000. TimesSquare Capital Management LLC purchased a new stake in shares of Tufin Software Technologies in the second quarter valued at approximately $27,764,000. Steadfast Capital Management LP purchased a new stake in shares of Tufin Software Technologies in the second quarter valued at approximately $20,773,000. Cramer Rosenthal Mcglynn LLC purchased a new stake in shares of Tufin Software Technologies in the second quarter valued at approximately $12,711,000. Finally, Waddell & Reed Financial Inc. purchased a new stake in shares of Tufin Software Technologies in the second quarter valued at approximately $9,708,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.

About Tufin Software Technologies

Tufin Ltd. provides security policy management solutions. It offers Orchestration Suite, a solution for automatically designing, provisioning, analyzing, and auditing network security changes from the application layer down to the network layer; SecureTrack, a management platform for firewalls, routers, load-balancers, and additional network devices; SecureChange, a solution for automating firewall and router configuration changes across complex networks; SecureApp, a solution that enables organizations to manage network connectivity and security policies; and Tufin Iris, a cloud-native solution that enables cloud operations and IT security teams to gain visibility and control of security policies for cloud-based applications.

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