This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FireEye Rises Ahead of Lock-Up Expiration Due Tomorrow

NEW YORK (TheStreet) - Over 82M shares of FireEye (FEYE) can be sold on May 21 for the first time, a regulatory filing by the information security vendor indicates.

BACKGROUND: Over 82M shares of FireEye can be sold tomorrow without the restrictions that were put in place following a secondary stock offering by the company, an April 22 regulatory filing by FireEye indicates. The first day on which shares can be sold following restrictions is referred to as the lock-up expiration day. Following the registration last month of the shares that FireEye issued in connection with its acquisition of Mandiant, about 145M shares of FireEye would be outstanding, the company estimated in the filing last month.

ANALYST OUTLOOK: After restrictions preventing FireEye insiders from selling stock expire on May 21, investors could become more optimistic about the shares, Nomura analyst Rick Sherlund predicted. FireEye has a robust opportunity in the IT security market and its technology is "best-of-breed," while its management team is strong, the analyst stated. FireEye is investing heavily and losing money, but investors with a longer term time horizon could benefit from the company's positive attributes, the analyst indicated. The stock reached an attractive entry point, wrote Sherlund, who kept a Buy rating on the shares.

PRICE ACTION: In late morning trading, FireEye jumped about $3, or 10.4%, to $31.94.

Reporting by Larry Ramer.

The Fly provides comprehensive coverage of stock news and Street research and delivers it in real-time. The Fly breaks market-moving news and explains sudden stock movements in a rapid-fire, short-form story format. Follow @theflynews on Twitter. For a free trial, click here.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $132.76 0.08%
FB $81.28 -0.77%
GOOG $553.68 -0.30%
TSLA $232.49 0.41%
YHOO $44.45 0.20%


DOW 18,086.45 +48.48 0.27%
S&P 500 2,112.07 +3.15 0.15%
NASDAQ 5,066.5230 +6.2770 0.12%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs