Hewlett Packard Enterprise (NYSE:HPE) Shares Bought by Needham Investment Management LLC

Needham Investment Management LLC raised its stake in shares of Hewlett Packard Enterprise (NYSE:HPE) by 56.3% during the third quarter, HoldingsChannel reports. The firm owned 80,500 shares of the technology company’s stock after purchasing an additional 29,000 shares during the quarter. Needham Investment Management LLC’s holdings in Hewlett Packard Enterprise were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Hewlett Packard Enterprise during the third quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in Hewlett Packard Enterprise during the 3rd quarter worth about $26,000. Hazlett Burt & Watson Inc. grew its stake in Hewlett Packard Enterprise by 571.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,143 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Hewlett Packard Enterprise in the second quarter valued at about $28,000. Finally, Financial Management Professionals Inc. increased its holdings in shares of Hewlett Packard Enterprise by 80.3% in the third quarter. Financial Management Professionals Inc. now owns 1,430 shares of the technology company’s stock valued at $29,000 after purchasing an additional 637 shares during the period. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Insider Activity

In other news, SVP Jeremy Cox sold 7,770 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $21.00, for a total transaction of $163,170.00. Following the completion of the sale, the senior vice president now owns 7,771 shares of the company’s stock, valued at $163,191. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Neil B. Macdonald sold 29,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,061 shares in the company, valued at $1,395,037. This represents a 26.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 426,012 shares of company stock worth $8,599,617 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

HPE has been the topic of a number of recent research reports. Bank of America upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and upped their target price for the company from $21.00 to $24.00 in a research report on Tuesday, September 17th. Loop Capital upped their price objective on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a “hold” rating in a report on Monday, September 9th. Citigroup raised their target price on shares of Hewlett Packard Enterprise from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Susquehanna restated a “neutral” rating and set a $20.00 target price on shares of Hewlett Packard Enterprise in a research report on Friday, October 11th. Finally, Raymond James raised Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $23.00 to $29.00 in a research report on Monday, November 18th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.21.

Hewlett Packard Enterprise Price Performance

Shares of Hewlett Packard Enterprise stock opened at $21.31 on Wednesday. The firm has a market cap of $27.67 billion, a PE ratio of 15.22, a P/E/G ratio of 3.32 and a beta of 1.21. Hewlett Packard Enterprise has a twelve month low of $14.47 and a twelve month high of $22.82. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $20.76 and a 200 day moving average price of $19.82.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. Hewlett Packard Enterprise’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. Sell-side analysts predict that Hewlett Packard Enterprise will post 1.66 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Company Profile

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.