FireEye, Inc. (FEYE) Shares Gap Down Following Analyst Downgrade

Shares of FireEye, Inc. (NASDAQ:FEYE) gapped down before the market opened on Friday after Oppenheimer Holdings lowered their price target on the stock from $23.00 to $22.00. The stock had previously closed at $17.74, but opened at $16.37. Oppenheimer Holdings currently has an outperform rating on the stock. FireEye shares last traded at $14.54, with a volume of 5475680 shares.

Other equities analysts have also recently issued reports about the company. Evercore ISI set a $20.00 price target on FireEye and gave the stock a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target on shares of FireEye in a report on Wednesday, August 2nd. Vetr cut FireEye from a “strong-buy” rating to a “buy” rating and set a $17.31 price target for the company. in a report on Wednesday, July 12th. BTIG Research reissued a “buy” rating and issued a $18.00 price target (up from $17.00) on shares of FireEye in a report on Wednesday, August 2nd. Finally, Zacks Investment Research raised FireEye from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. FireEye has an average rating of “Hold” and a consensus price target of $17.16.

In related news, EVP Alexa King sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $18.00, for a total value of $450,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Travis M. Reese sold 88,445 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $17.50, for a total value of $1,547,787.50. The disclosure for this sale can be found here. Insiders have sold a total of 125,000 shares of company stock worth $2,200,000 over the last quarter. Insiders own 2.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its position in FireEye by 13.2% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 243,614 shares of the information security company’s stock valued at $3,705,000 after acquiring an additional 28,450 shares during the period. Unterberg Capital LLC acquired a new stake in FireEye in the 2nd quarter valued at approximately $4,031,000. Canada Pension Plan Investment Board increased its position in FireEye by 31.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 68,700 shares of the information security company’s stock valued at $1,045,000 after acquiring an additional 16,600 shares during the period. Paloma Partners Management Co acquired a new stake in FireEye in the 1st quarter valued at approximately $1,202,000. Finally, Schwab Charles Investment Management Inc. increased its position in FireEye by 1.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 563,845 shares of the information security company’s stock valued at $8,577,000 after acquiring an additional 7,877 shares during the period. Hedge funds and other institutional investors own 68.16% of the company’s stock.

FireEye (NASDAQ:FEYE) last posted its earnings results on Wednesday, November 1st. The information security company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. FireEye had a negative return on equity of 23.37% and a negative net margin of 39.29%. The firm had revenue of $189.60 million for the quarter, compared to analysts’ expectations of $186.41 million. During the same period last year, the firm earned ($0.18) EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. equities research analysts anticipate that FireEye, Inc. will post -1.09 earnings per share for the current year.

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FireEye Company Profile

FireEye, Inc provides intelligence-based cybersecurity solutions that allow organizations to prepare for, prevent, respond to and remediate cyber-attacks. The Company offers various products, such as Threat Detection and Prevention Solutions, which include network security products (NX and Multi-vector Virtual Execution (MVX) Compute Node Series), e-mail security products (EX Series and e-mail threat prevention cloud (ETP), endpoint security products (HX Series) and content security products (FX Series); security management and orchestration products, which include Central Management System and FireEye Security Orchestrator, and forensics and investigation products, which include Threat Analytics Platform (TAP), Malware Analysis (AX Series) and Enterprise Forensics (PX Series and IA Series).

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