Stephens Inc. AR Grows Holdings in Ping Identity Holding Corp. (NYSE:PING)

Stephens Inc. AR lifted its holdings in Ping Identity Holding Corp. (NYSE:PINGGet Rating) by 13.7% during the first quarter, Holdings Channel reports. The institutional investor owned 24,040 shares of the company’s stock after acquiring an additional 2,890 shares during the quarter. Stephens Inc. AR’s holdings in Ping Identity were worth $659,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Exane Derivatives boosted its stake in Ping Identity by 229.8% in the 1st quarter. Exane Derivatives now owns 4,166 shares of the company’s stock worth $114,000 after purchasing an additional 2,903 shares in the last quarter. Alpha Paradigm Partners LLC bought a new position in Ping Identity in the 4th quarter worth about $198,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ping Identity by 95.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,899 shares of the company’s stock worth $204,000 after purchasing an additional 4,341 shares in the last quarter. Keybank National Association OH bought a new position in Ping Identity in the 1st quarter worth about $249,000. Finally, Brinker Capital Investments LLC bought a new position in Ping Identity in the 4th quarter worth about $262,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Bank of America cut shares of Ping Identity from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $28.00 to $19.00 in a research note on Friday, July 29th. KeyCorp lowered their target price on shares of Ping Identity from $34.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, July 22nd. Piper Sandler lowered their target price on shares of Ping Identity from $25.00 to $20.00 in a research note on Wednesday, July 13th. The Goldman Sachs Group upped their target price on shares of Ping Identity from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, April 12th. Finally, Wells Fargo & Company lowered their target price on shares of Ping Identity from $35.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.87.

Ping Identity Trading Up 1.7 %

Ping Identity stock opened at $17.47 on Wednesday. The firm has a 50 day moving average of $18.68 and a 200 day moving average of $21.17. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -21.30 and a beta of 0.96. 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.

Ping Identity (NYSE:PINGGet Rating) last released its earnings results 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). The firm had revenue of $84.69 million during the quarter, compared to analysts’ expectations of $80.60 million. Ping Identity had a negative return on equity of 4.99% and a negative net margin of 21.80%. The company’s revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.12) earnings per share. As a group, research analysts predict that Ping Identity Holding Corp. will post -0.8 earnings per share for the current year.

Ping Identity Profile

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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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