The Vanguard Group, Inc. recently announced the acquisition of new stake in FireEye Inc. (NASDAQ:FEYE). The institutional investor has increased its shareholding in the Technology company by 1.74% to 19.69 million shares with purchase of 0.34 million shares. This fresh investment now brings its stake to 8.83% valued currently at $297.25 million. In addition, BlackRock Fund Advisors raised its holdings by 0.49 million to 9.79 million shares. And ArrowMark Colorado Holdings LLC has lifted its position by 3.13% or 0.19 million shares – to 6.18 million shares.
With over 4.47 million FireEye Inc. (FEYE) shares trading Tuesday and a closing price of $15.02 on the day, the dollar volume was approximately $67.13 million. The shares have shown a positive weekly performance of 1.83% and its price on 09/01/20 gained nearly 2.32%. Currently, there are 221.35M common shares owned by the public and among those 220.02M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for FEYE have a consensus price objective of $16.90. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $14.00 should the stock experience a downside. Incidentally, analysts’ outlook for the FireEye Inc. stock is 2.30 for the next 12 months. The average price target is -6.3% below its last price level and a downside to the estimated low will see the stock lose -7.29% over that period. But an upside of 31.73% will see the stock hit the forecast high price target while mean target price for the stock is $17.00.
Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 807,491 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 672,992 shares.
The top 3 mutual fund holders in FireEye Inc. are Vanguard Total Stock Market Index, Invesco Oppenheimer Global Opport, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 6.02 million shares of the company’s stock, all valued at over $90.89 million. The company sold 62635.0 shares recently to bring their total holdings to about 2.70% of the shares outstanding. Vanguard Small Cap Index Fund sold 31220.0 shares to bring its total holdings to over 5.26 million shares at a value of $79.47 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.36% of the shares outstanding.
Shares of FireEye Inc. (NASDAQ: FEYE) opened at $14.73, up $0.05 from a prior closing price of $14.68. However, the script later closed the day at $15.02, up 2.32%. The company’s stock has a 5-day price change of 1.83% and 13.53% over the past three months. FEYE shares are trading -9.13% year to date (YTD), with the 12-month market performance up to 15.54% higher. It has a 12-month low price of $7.54 and touched a high of $18.34 over the same period. Currently, 4.47 million shares have been traded, compared to an average intraday trading volume of 4.86 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.13%, 9.22%, and 9.00% respectively.
Institutional ownership of FireEye Inc. (NASDAQ: FEYE) shares accounts for 77.90% of the company’s 221.35M shares outstanding. Mutual fund holders own 34.64%, while other institutional holders and individual stakeholders account for 44.51% and 17.41% respectively.
It has a market capitalization of $3.36B and a beta (3y monthly) value of 1.08. The earnings-per-share (ttm) stands at -$1.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.69% over the week and 2.95% over the month.
Analysts forecast that FireEye Inc. (FEYE) will achieve an EPS of $0.07 for the current quarter, $0.1 for the next quarter and $0.29 for 2021. The lowest estimate earnings-per-share for the quarter is $0.07 while analysts give the company a high EPS estimate of $0.08. Comparatively, EPS for the current quarter was $0.02 a year ago. Earnings per share for the fiscal year are expected to increase by 2.50%, and 18.55% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate FireEye Inc. (FEYE) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 11 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the FEYE, a number of firms have released research notes about the stock. BMO Capital Markets stated their Market Perform rating for the stock in a research note on July 29, 2020, with the firm’s price target at $12.50-$15. Goldman coverage for the FireEye Inc. (FEYE) stock in a research note released on March 05, 2020 offered a Buy rating with a price target of $18. BofA/Merrill was of a view on January 08, 2020 that the stock is Neutral, while SunTrust gave the stock Buy rating on January 07, 2020, issuing a price target of $19- $22. Piper Jaffray on their part issued Neutral rating on December 10, 2019.