Geode Capital Management LLC Buys 759,398 Shares of E2open Parent Holdings, Inc. (NYSE:ETWO)

Geode Capital Management LLC boosted its position in shares of E2open Parent Holdings, Inc. (NYSE:ETWO) by 19.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,736,328 shares of the company’s stock after buying an additional 759,398 shares during the quarter. Geode Capital Management LLC’s holdings in E2open Parent were worth $20,892,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ETWO. Bank of New York Mellon Corp lifted its holdings in shares of E2open Parent by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 798,741 shares of the company’s stock worth $3,586,000 after acquiring an additional 55,315 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in E2open Parent by 15.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,248 shares of the company’s stock worth $194,000 after purchasing an additional 5,854 shares during the period. nVerses Capital LLC bought a new stake in E2open Parent in the second quarter worth about $48,000. American Century Companies Inc. purchased a new position in shares of E2open Parent during the second quarter valued at approximately $353,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of E2open Parent by 23.0% during the second quarter. Dimensional Fund Advisors LP now owns 6,801,601 shares of the company’s stock valued at $30,537,000 after buying an additional 1,272,370 shares during the last quarter.

E2open Parent Stock Performance

E2open Parent stock opened at $2.65 on Friday. E2open Parent Holdings, Inc. has a fifty-two week low of $2.52 and a fifty-two week high of $5.07. The company has a market capitalization of $908.07 million, a PE ratio of -1.03, a P/E/G ratio of 1.16 and a beta of 0.98. The company has a 50 day moving average price of $3.02 and a 200-day moving average price of $3.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.03 and a current ratio of 1.03.

E2open Parent (NYSE:ETWO) last issued its earnings results on Wednesday, October 9th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. E2open Parent had a positive return on equity of 3.92% and a negative net margin of 125.70%. The business had revenue of $152.19 million during the quarter, compared to analysts’ expectations of $152.33 million. As a group, equities analysts forecast that E2open Parent Holdings, Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ETWO. Loop Capital decreased their price target on E2open Parent from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Monday, December 23rd. The Goldman Sachs Group downgraded E2open Parent from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $3.50 to $2.90 in a research report on Wednesday, December 11th.

E2open Parent Company Profile

E2open Parent Holdings, Inc provides cloud-based and end-to-end supply chain management and orchestration SaaS platform in the Americas, Europe, and the Asia Pacific. Its SaaS platform includes various key strategic and operational areas, including omni-channel, demand sensing, supply planning, global trade management, transportation and logistics and manufacturing and supply management.