FireEye Shares Down 6.8% After Insider Selling (FEYE)
Shares of FireEye (NASDAQ:FEYE) were down 6.8% during trading on Friday following insider selling activity, Analyst Ratings Network reports. The stock traded as low as $32.20 and last traded at $32.30, with a volume of 5,873,581 shares. The stock had previously closed at $34.65.
Specifically, SVP Bahman Mahbod unloaded 25,000 shares of the stock on the open market in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $34.54, for a total value of $863,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on FEYE. Analysts at Barclays upgraded shares of FireEye from an “equal weight” rating to an “overweight” rating in a research note on Friday, May 23rd. They now have a $40.00 price target on the stock, down previously from $50.00. They noted that the move was a valuation call. Separately, analysts at Nomura reiterated a “buy” rating on shares of FireEye in a research note on Monday, May 19th. Finally, analysts at Imperial Capital cut their price target on shares of FireEye from $68.00 to $30.00 in a research note on Friday, May 9th. They now have an “in-line” rating on the stock. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $55.37.
The stock’s 50-day moving average is $37.02 and its 200-day moving average is $53.44. The company’s market cap is $4.769 billion.
FireEye (NASDAQ:FEYE) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.53) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.53). The company had revenue of $74.00 million for the quarter, compared to the consensus estimate of $71.65 million. The company’s quarterly revenue was up 160.6% on a year-over-year basis. On average, analysts predict that FireEye will post $-2.22 earnings per share for the current fiscal year.
FireEye, Inc invented a purpose-built, virtual machine-based security platform that provides real-time protection to enterprises and governments worldwide against the next generation of cyber attacks.
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