Traders Buy High Volume of Put Options on Pluralsight (PS)

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Pluralsight Inc (NASDAQ:PS) saw unusually large options trading on Thursday. Investors purchased 2,783 put options on the stock. This is an increase of approximately 5,357% compared to the average volume of 51 put options.

Separately, Bank of America upped their target price on Pluralsight from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.26.

Pluralsight stock opened at $31.80 on Friday. The firm has a market cap of $4.37 billion and a price-to-earnings ratio of -21.78. Pluralsight has a twelve month low of $17.88 and a twelve month high of $38.37.

Pluralsight (NASDAQ:PS) last posted its earnings results on Wednesday, February 13th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.14). The company had revenue of $67.26 million for the quarter, compared to analysts’ expectations of $65.76 million. Pluralsight had a negative return on equity of 246.61% and a negative net margin of 36.06%. The firm’s quarterly revenue was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.53) EPS. As a group, equities analysts forecast that Pluralsight will post -0.79 EPS for the current year.

In related news, insider Nate Walkingshaw sold 68,431 shares of the stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $30.00, for a total value of $2,052,930.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Aaron Skonnard sold 50,000 shares of the stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $29.36, for a total value of $1,468,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 9,101,284 shares of company stock worth $258,843,580. 23.19% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of PS. First Mercantile Trust Co. purchased a new stake in shares of Pluralsight during the 4th quarter valued at $130,000. Bank of Montreal Can lifted its holdings in shares of Pluralsight by 15.8% during the 4th quarter. Bank of Montreal Can now owns 5,821 shares of the company’s stock valued at $137,000 after purchasing an additional 793 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Pluralsight by 118.8% during the 1st quarter. State of Alaska Department of Revenue now owns 6,215 shares of the company’s stock valued at $196,000 after purchasing an additional 3,375 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Pluralsight during the 1st quarter valued at $247,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Pluralsight during the 4th quarter valued at $278,000. Institutional investors own 68.88% of the company’s stock.

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About Pluralsight

Pluralsight, Inc provides a technology skill development solutions worldwide. Its cloud-based technology skills platform offers a range of tools, including skill and role assessment tool, which uses machine learning and advanced algorithms to measure a user's skills, benchmark that user against others in the industry, and recommend opportunities for growth; and Course Library that include a digital ecosystem of thousands of on-demand courses across a range of technology subject areas, such as cloud, mobile, security, IT, and data.

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