Bank of America Cuts Hewlett Packard Enterprise (NYSE:HPE) Price Target to $20.00

Hewlett Packard Enterprise (NYSE:HPE) had its price target dropped by analysts at Bank of America from $26.00 to $20.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective indicates a potential upside of 26.46% from the stock’s previous close.

Several other research analysts have also recently commented on the company. Stifel Nicolaus boosted their price target on Hewlett Packard Enterprise from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Raymond James upgraded Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $23.00 to $29.00 in a research note on Monday, November 18th. Loop Capital upped their price objective on Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, December 9th. StockNews.com cut Hewlett Packard Enterprise from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Barclays cut their price objective on Hewlett Packard Enterprise from $27.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.21.

Hewlett Packard Enterprise Trading Down 11.9 %

NYSE:HPE opened at $15.82 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.29. Hewlett Packard Enterprise has a one year low of $14.93 and a one year high of $24.66. The business’s 50-day simple moving average is $21.47 and its 200 day simple moving average is $20.72. The stock has a market cap of $20.77 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20.

Insider Buying and Selling at Hewlett Packard Enterprise

In other news, Director Gary M. Reiner sold 50,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.47, for a total transaction of $1,173,500.00. Following the completion of the sale, the director now owns 104,192 shares in the company, valued at approximately $2,445,386.24. This represents a 32.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jeremy Cox sold 11,577 shares of the stock in a transaction 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 sale, the senior vice president now owns 48,615 shares of the company’s stock, valued at $1,118,145. The trade was a 19.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 324,395 shares of company stock valued at $7,121,896. 0.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hewlett Packard Enterprise

Hedge funds have recently modified their holdings of the stock. Kathmere Capital Management LLC increased its stake in shares of Hewlett Packard Enterprise by 87.2% in the fourth quarter. Kathmere Capital Management LLC now owns 25,483 shares of the technology company’s stock worth $544,000 after acquiring an additional 11,869 shares during the last quarter. Lebenthal Global Advisors LLC increased its stake in shares of Hewlett Packard Enterprise by 83.7% in the fourth quarter. Lebenthal Global Advisors LLC now owns 36,096 shares of the technology company’s stock worth $771,000 after acquiring an additional 16,447 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Hewlett Packard Enterprise by 35.1% in the fourth quarter. Nordea Investment Management AB now owns 7,253,035 shares of the technology company’s stock worth $155,142,000 after acquiring an additional 1,885,559 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Hewlett Packard Enterprise by 78.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 909,919 shares of the technology company’s stock worth $19,545,000 after acquiring an additional 401,016 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in Hewlett Packard Enterprise during the fourth quarter worth $617,000. 80.78% of the stock is owned by institutional investors and hedge funds.

About Hewlett Packard Enterprise

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.