The short-term stake in Tufin Software Technologies Ltd. (NYSE: TUFN) down 34.6%


Tufin Software Technologies Ltd. (NYSE: TUFNGet a rating) was the target of a significant drop in short interest during the month of April. As of April 15, there was short interest totaling 154,500 shares, down 34.6% from the March 31 total of 236,400 shares. Based on an average daily trading volume of 739,200 shares, the day-to-cover ratio is currently 0.2 days. Currently, 0.5% of the company’s shares are sold short.

A number of brokerages have published reports on TUFN. Stifel Nicolaus lowered his price target on Tufin Software Technologies from $11.00 to $10.00 and set a “holding” rating for the company in a Monday, March 21 research note. Colliers Securities upgraded Tufin Software Technologies from a “buy” rating to a “neutral” rating in a Wednesday, April 6 research note. To finish, Zacks Investment Research upgraded Tufin Software Technologies from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a Wednesday, April 13 research note. Five research analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.57.

TUFN Stock opened at $12.90 on Friday. Tufin Software Technologies has a 1 year minimum of $7.50 and a 1 year maximum of $13.50. The company has a fifty-day moving average price of $10.31 and a 200-day moving average price of $9.66.

Tufin software technologies (NYSE: TUFNGet a rating) last released its quarterly results on Thursday, February 10. The company reported ($0.11) earnings per share for the quarter, beating Thomson Reuters consensus estimate of ($0.17) by $0.06. Tufin Software Technologies recorded a negative return on equity of 62.67% and a negative net margin of 33.28%. The company posted revenue of $35.84 million in the quarter, compared to $34.38 million expected by analysts. In the same quarter of the previous year, the company had earned earnings per share of ($0.12). The company’s revenue increased 15.8% year over year. As a group, research analysts expect Tufin Software Technologies to post -1.18 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently changed their stock holdings. ETF Managers Group LLC increased its holdings of Tufin Software Technologies shares by 79.5% in the fourth quarter. ETF Managers Group LLC now owns 2,756,491 shares of the company worth $28,860,000 after acquiring an additional 1,220,642 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Tufin Software Technologies in the fourth quarter at a value of $19,993,000. B. Riley Asset Management LLC purchased a new stake in shares of Tufin Software Technologies in the fourth quarter at a value of $10,681,000. Edenbrook Capital LLC increased its stake in Tufin Software Technologies by 449.8% during the fourth quarter. Edenbrook Capital LLC now owns 764,359 shares of the company valued at $8,064,000 after purchasing an additional 625,338 shares during the period. Finally, Morgan Stanley increased its stake in Tufin Software Technologies by 8.4% during the second quarter. Morgan Stanley now owns 590,620 shares of the company valued at $5,386,000 after purchasing an additional 45,656 shares during the period. 45.98% of the shares are held by institutional investors.

About Tufin Software Technologies (Get a rating)

Tufin Software Technologies Ltd., together with its subsidiaries, develops, markets and sells software solutions primarily in the United States, Israel, Europe, the Middle East and Africa, Germany, Asia-Pacific and internationally . The company provides SecureTrack, which enables security administrators to define and manage a centralized security policy, minimize the attack surface and ensure continuous compliance across the entire network; SecureChange which is used to assess, provision and verify security configuration changes on physical networks and cloud platforms, while maintaining security and compliance; and SecureApp, which is used to define, manage and monitor network connectivity of their applications.

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