Pluralsight Inc (NASDAQ:PS) Sees Large Increase in Short Interest

Pluralsight Inc (NASDAQ:PS) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 5,248,274 shares, an increase of 144.3% from the February 28th total of 2,148,108 shares. Based on an average daily trading volume, of 3,172,105 shares, the short-interest ratio is presently 1.7 days. Approximately 11.4% of the company’s stock are short sold.

Separately, Bank of America lifted their price objective on shares of Pluralsight from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, February 14th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $35.26.

In related news, CEO Aaron Skonnard sold 50,000 shares of Pluralsight stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $29.36, for a total value of $1,468,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott D. Dorsey sold 47,492 shares of Pluralsight stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $28.37, for a total transaction of $1,347,348.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,101,284 shares of company stock worth $258,843,580. Insiders own 23.19% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Mercantile Trust Co. purchased a new stake in shares of Pluralsight during the fourth quarter worth $130,000. Bank of Montreal Can grew its holdings in shares of Pluralsight by 15.8% during the fourth quarter. Bank of Montreal Can now owns 5,821 shares of the company’s stock worth $137,000 after buying an additional 793 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Pluralsight by 118.8% during the first quarter. State of Alaska Department of Revenue now owns 6,215 shares of the company’s stock worth $196,000 after buying an additional 3,375 shares in the last quarter. Domini Impact Investments LLC purchased a new stake in shares of Pluralsight during the third quarter worth $239,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Pluralsight during the first quarter worth $247,000. 68.88% of the stock is owned by institutional investors.

Shares of PS traded down $0.53 during trading hours on Friday, hitting $31.80. The stock had a trading volume of 2,824,658 shares, compared to its average volume of 1,651,889. Pluralsight has a fifty-two week low of $17.88 and a fifty-two week high of $38.37. The stock has a market cap of $4.37 billion and a P/E ratio of -21.78.

Pluralsight (NASDAQ:PS) last issued its quarterly earnings results on Wednesday, February 13th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.14). The company had revenue of $67.26 million during 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%. Pluralsight’s revenue was up 41.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.53) EPS. Analysts forecast that Pluralsight will post -0.79 earnings per share for the current fiscal year.

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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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