A company insider recently sold 100,000 shares of Ping Identity Holding Corp. [PING]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ping Identity Holding Corp. shares valued at $2,787,000 were sold by DURAND ANDRE WONG on Aug 03. At $27.87 per share, DURAND ANDRE WONG sold 100,000 shares. The insider’s holdings dropped to 502,416 shares worth approximately $14.19 million following the completion of this transaction.

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Also, NAGEL BRYAN KRISTIAN sold 59,000 shares, netting a total of over 1,773,864 in proceeds. Following the sale of shares at $30.07 each, the insider now holds 473,387 shares.

Before that, DANI RAJ M. had sold 26,564 shares from its account. In a trade valued at $783,107, the Chief Financial Officer traded Ping Identity Holding Corp. shares for $29.48 each. Upon closing the transaction, the insider’s holdings decreased to 26,564 shares, worth approximately $13.34 million.

As published in a research note from BofA Securities on July 29, 2022, Ping Identity Holding Corp. [PING] has been rated down from a Buy to a Neutral and the price target has been revised to $19 from $28. This represents a -48.68% premium over Thursday’s closing price. Analysts at Raymond James downgraded the stock from ‘”a Strong buy”‘ to ‘”a Mkt perform”‘ outlook in a report released in late July. As of April 12, 2022, DA Davidson has initiated its “Buy” rating for PING. Earlier on April 05, 2022, KeyBanc Capital Markets initiated its rating. Their recommendation was “an Overweight” for PING stock.

Analyzing PING’s Price Performance

On Thursday, Ping Identity Holding Corp. [NYSE: PING] plunged -0.11% to $28.25. The stock’s lowest price that day was $28.25, but it reached a high of $28.32 in the same session. During the last five days, there has been a surge of approximately 0.18%. Over the course of the year, Ping Identity Holding Corp. shares have jumped approximately 23.47%. Shares of the company reached a 52-week high of $30.40 on 04/14/22 and a 52-week low of $15.85 on 06/16/22. A 50-day SMA is recorded $25.34, while a 200-day SMA reached $22.59. Nevertheless, trading volume fell to 1.63 million shares from 1.97 million shares the previous day.

Support And Resistance Levels for Ping Identity Holding Corp. (PING)

According to the 24-hour chart, there is a support level at 28.23, which, if violated, would cause prices to drop to 28.20. In the upper region, resistance lies at 28.30. The next price resistance is at 28.34. RSI (Relative Strength Index) is 72.09 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.04, which suggests the price will decrease in the coming days. Percent R is at 44.83%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Ping Identity Holding Corp. subject to short interest?

Stocks of Ping Identity Holding Corp. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.8 million shares to 8.82 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.02 million shares. A jump of 9.07% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 9.3 of the overall float, the days-to-cover ratio (short ratio) jumped to 9.3.

Which companies own the most shares of Ping Identity Holding Corp. (PING)?

According to The Vanguard Group, Inc. filings, the company currently owns 6,246,655 shares, which is about 7.27% of the total PING shares outstanding. The investor’s shares have appreciated by 120,959 from its previous 13-F filing of 6125696.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $136,017,532. Legal & General Investment Manage reduced a -10.77% interest valued at $128.8 million while Senvest Management LLC purchased a 334,935 stake. A total of 761,587 shares of Ping Identity Holding Corp. were bought by First Trust Advisors LP during the quarter, and 0 by Keenan Capital LLC. In its current portfolio, Tremblant Capital LP holds 2,924,578 shares valued at $82.3 million.


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