Cybersecurity has become an increasingly important issue that companies have to address as they continue to develop new platforms and mobile apps. Hackers have been able to steal credit card and personal information from major companies like Equifax, JPMorgan and Home Depot. As a result, cybersecurity has become more necessary, and instead of developing a dedicated department within a company, most opt to hire a third-party cybersecurity firm.
What is interesting here is that many investors think cybersecurity is the next area in technology that needs real consolidation.
The February 28 short interest data have been compared with the previous figures, and short interest moves in these selected cybersecurity stocks was mixed.
FireEye Inc. (NASDAQ: FEYE) saw its short interest decrease to 17.31 million shares from the previous reading of 20.51 million. Shares were last seen trading at $17.98, in a 52-week range of $10.38 to $18.29.
The short interest at CyberArk Software Ltd. (NASDAQ: CYBR) dropped to 728,500 shares from the previous level of 1.03 million. Shares were trading at $50.99, within a 52-week range of $39.34 to $55.63.
Check Point Software Technologies Ltd.’s (NASDAQ: CHKP) short interest increased to 8.50 million shares from the previous reading of 8.07 million. Shares were trading at $105.99, in a 52-week range of $95.03 to $119.20.
The number of Palo Alto Networks Inc. (NYSE: PANW) shares short was 5.23 million. The previous level was 4.76 million. Shares closed most recently at $188.51, within a 52-week trading range of $107.31 to $189.44.
Fortinet Inc.’s (NASDAQ: FTNT) short interest increased to 4.69 million shares from its previous reading of 4.08 million. Shares were trading at $54.44, in a 52-week range of $35.44 to $54.68.