Ping Identity (NYSE:PING) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Investment analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ping Identity (NYSE:PING) in a report released on Tuesday, The Fly reports. The brokerage set a “hold” rating on the stock.

PING has been the topic of several other reports. Stephens assumed coverage on shares of Ping Identity in a report on Monday, February 1st. They set an “overweight” rating and a $40.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Ping Identity from $40.00 to $35.00 in a report on Thursday, November 5th. The Goldman Sachs Group upgraded shares of Ping Identity from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $34.00 in a report on Friday, January 8th. Mizuho boosted their price target on shares of Ping Identity from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Tuesday, January 12th. Finally, Barclays boosted their target price on shares of Ping Identity from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, January 21st. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Ping Identity currently has a consensus rating of “Buy” and a consensus price target of $34.71.

Ping Identity stock opened at $33.56 on Tuesday. Ping Identity has a fifty-two week low of $12.02 and a fifty-two week high of $37.80. The stock has a market cap of $2.72 billion, a PE ratio of -479.43, a price-to-earnings-growth ratio of 23.44 and a beta of 1.01. The firm’s 50-day simple moving average is $32.02 and its 200 day simple moving average is $30.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.52 and a current ratio of 5.52.

In other news, major shareholder Vep Group, Llc sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 14th. The shares were sold at an average price of $26.45, for a total value of $132,250,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Adriana Zenia Carpenter sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 20th. The shares were sold at an average price of $31.50, for a total transaction of $78,750.00. Following the completion of the sale, the chief accounting officer now directly owns 41,208 shares in the company, valued at approximately $1,298,052. The disclosure for this sale can be found here. In the last three months, insiders sold 5,222,901 shares of company stock worth $139,111,893. Insiders own 2.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of PING. Nisa Investment Advisors LLC bought a new stake in Ping Identity during the 4th quarter worth approximately $37,000. Banque Cantonale Vaudoise increased its holdings in Ping Identity by 233.3% during the 4th quarter. Banque Cantonale Vaudoise now owns 2,000 shares of the company’s stock worth $57,000 after acquiring an additional 1,400 shares during the period. Signaturefd LLC bought a new stake in Ping Identity during the 3rd quarter worth approximately $107,000. Steward Partners Investment Advisory LLC increased its holdings in Ping Identity by 281.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,195 shares of the company’s stock worth $120,000 after acquiring an additional 3,095 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Ping Identity by 162.3% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,310 shares of the company’s stock worth $175,000 after acquiring an additional 2,048 shares during the period. 99.26% of the stock is currently owned by institutional investors and hedge funds.

About Ping Identity

Ping Identity Holding Corp., doing business as Ping Identity Corporation, provides intelligent identity solutions for the enterprise in the United States and internationally. Its Ping Intelligent Identity platform provides customers, workforce, and partners with access to cloud, mobile, Software-as-a-Service, and on-premise applications.

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