Renaissance Investment Group Lowers stake in FireEye Inc (FEYE)

FireEye Inc (FEYE) : Renaissance Investment Group reduced its stake in FireEye Inc by 22.85% during the most recent quarter end. The investment management company now holds a total of 30,670 shares of FireEye Inc which is valued at $542,552 after selling 9,085 shares in FireEye Inc according to a report filed by the company on Apr 1, 2016 with the SEC.FireEye Inc makes up approximately 0.27% of Renaissance Investment Group’s portfolio.

On the company’s financial health, FireEye Inc reported $-0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 11, 2016. Analyst had a consensus of $-0.37. The company had revenue of $184.80 million for the quarter, compared to analysts expectations of $185.54 million. The company’s revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.38 EPS.

Many Wall Street Analysts have commented on FireEye Inc. FireEye Inc was Initiated by Goldman to “Neutral” on Mar 21, 2016. Company shares were Reiterated by UBS on Mar 11, 2016 to “Neutral”, Firm has raised the Price Target to $ 18 from a previous price target of $13 .Company shares were Upgraded by Piper Jaffray on Mar 9, 2016 to ” Overweight”, Firm has raised the Price Target to $ 24 from a previous price target of $15 .

FireEye Inc closed down -0.07 points or -0.40% at $17.39 with 34,97,941 shares getting traded on Monday. Post opening the session at $17.59, the shares hit an intraday low of $17.2801 and an intraday high of $17.97 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

FireEye Inc. is a United States-based company engaged in offering virtual machine-based security platform that provides real-time threat protection to enterprises and governments against the cyber-attacks. The Company’s FireEye Threat Prevention platform provides real-time threat protection without the use of signatures to protect an organization across the primary threat vectors and across the various stages of an attack life cycle. It stops advanced cyber-attacks that use advanced malware zero-day exploits and Advanced Persistent Threat (APT) tactics. Its solutions supplement traditional and next generation firewalls Intrusion Prevention Systems (IPS) anti-virus and gateways. It offers a solution that detects and blocks attacks across Web e-mail endpoint file and mobile threat vectors and latent malware resident on file shares. Its products include Network Security NX Series Malware Analysis AX Series iSIGHT ThreatScape Intelligence and Central Management CM Series.

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