Hewlett Packard Enterprise (NYSE:HPE) Downgraded by StockNews.com to "Hold"
Hewlett Packard Enterprise (NYSE:HPE) has been downgraded by StockNews.com from a "buy" to a "hold" rating. Other brokerages have also adjusted their ratings, with Deutsche Bank upgrading to "buy" and setting a $25 target, while Barclays and Susquehanna lowered their targets to $20 and $15, respectively. HPE's stock traded down to $15.82, with a market cap of $20.77 billion. Recent insider trading shows significant share sales, and hedge funds have varied their stakes in the company.
Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Friday.
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A number of other brokerages have also issued reports on HPE. Deutsche Bank Aktiengesellschaft upgraded Hewlett Packard Enterprise from a "hold" rating to a "buy" rating and set a $25.00 price target for the company in a research report on Thursday, December 19th. Barclays cut their target price on Hewlett Packard Enterprise from $27.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday. Susquehanna cut their target price on Hewlett Packard Enterprise from $20.00 to $15.00 and set a "neutral" rating on the stock in a research report on Friday. Wells Fargo & Company dropped their price objective on shares of Hewlett Packard Enterprise from $22.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Friday. Finally, Stifel Nicolaus lifted their price target on Hewlett Packard Enterprise from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Hewlett Packard Enterprise currently has an average rating of "Moderate Buy" and a consensus price target of $22.21.
Check Out Our Latest Analysis on HPE
Hewlett Packard Enterprise Stock Performance
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HPE traded down $2.15 during trading on Friday, reaching $15.82. 81,923,511 shares of the company were exchanged, compared to its average volume of 14,883,140. The stock has a market cap of $20.77 billion, a P/E ratio of 8.32, a PEG ratio of 2.03 and a beta of 1.19. The firm has a 50 day moving average of $21.47 and a 200 day moving average of $20.71. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Hewlett Packard Enterprise has a 52 week low of $14.09 and a 52 week high of $24.66.
Insider Buying and Selling
In other Hewlett Packard Enterprise news, Director Gary M. Reiner sold 50,000 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.47, for a total value of $1,173,500.00. Following the completion of the transaction, the director now owns 104,192 shares of the company's stock, valued at $2,445,386.24. This represents a 32.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jeremy Cox sold 11,577 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $23.00, for a total value of $266,271.00. Following the completion of the transaction, the senior vice president now directly owns 48,615 shares of the company's stock, valued at approximately $1,118,145. This trade represents a 19.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 324,395 shares of company stock valued at $7,121,896. Insiders own 0.36% of the company's stock.
Hedge Funds Weigh In On Hewlett Packard Enterprise
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Large investors have recently added to or reduced their stakes in the company. Stephens Inc. AR raised its holdings in shares of Hewlett Packard Enterprise by 12.3% in the 3rd quarter. Stephens Inc. AR now owns 17,998 shares of the technology company's stock worth $368,000 after buying an additional 1,972 shares in the last quarter. Maia Wealth LLC bought a new stake in Hewlett Packard Enterprise during the 3rd quarter worth approximately $123,000. Concurrent Investment Advisors LLC grew its position in Hewlett Packard Enterprise by 148.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 76,745 shares of the technology company's stock worth $1,570,000 after acquiring an additional 45,807 shares during the last quarter. Graypoint LLC grew its position in Hewlett Packard Enterprise by 18.0% during the 3rd quarter. Graypoint LLC now owns 35,359 shares of the technology company's stock worth $723,000 after acquiring an additional 5,406 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Hewlett Packard Enterprise by 4.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,561,022 shares of the technology company's stock worth $31,939,000 after acquiring an additional 68,892 shares during the last quarter. Institutional investors and hedge funds own 80.78% of the company's stock.
Hewlett Packard Enterprise Company Profile
(Get Free Report)Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.
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