Exchange Traded Concepts LLC Decreases Stock Holdings in Hewlett Packard Enterprise (NYSE:HPE)

Exchange Traded Concepts LLC reduced its holdings in Hewlett Packard Enterprise (NYSE:HPE) by 9.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,642 shares of the technology company’s stock after selling 1,198 shares during the period. Exchange Traded Concepts LLC’s holdings in Hewlett Packard Enterprise were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Eagle Asset Management Inc. grew its position in Hewlett Packard Enterprise by 3,537.0% in the third quarter. Eagle Asset Management Inc. now owns 5,788,154 shares of the technology company’s stock worth $127,571,000 after acquiring an additional 5,629,006 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Hewlett Packard Enterprise in the 3rd quarter valued at approximately $105,185,000. Pacer Advisors Inc. increased its position in shares of Hewlett Packard Enterprise by 18.1% during the 3rd quarter. Pacer Advisors Inc. now owns 27,383,858 shares of the technology company’s stock valued at $560,274,000 after purchasing an additional 4,194,213 shares during the last quarter. Raymond James & Associates raised its holdings in Hewlett Packard Enterprise by 92.5% during the 3rd quarter. Raymond James & Associates now owns 4,404,520 shares of the technology company’s stock valued at $90,116,000 after buying an additional 2,116,824 shares during the period. Finally, Nordea Investment Management AB lifted its position in 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 buying an additional 1,885,559 shares during the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HPE. Morgan Stanley upgraded shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $23.00 to $28.00 in a research report on Thursday, December 5th. Loop Capital upped their price target on shares of Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a “hold” rating in a report on Monday, December 9th. Susquehanna reissued a “neutral” rating and issued a $20.00 price objective on shares of Hewlett Packard Enterprise in a research note on Friday, October 11th. Raymond James raised Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $23.00 to $29.00 in a research note on Monday, November 18th. Finally, Barclays lifted their target price on Hewlett Packard Enterprise from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have 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 price target of $24.00.

Hewlett Packard Enterprise Stock Performance

Shares of Hewlett Packard Enterprise stock opened at $21.17 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. Hewlett Packard Enterprise has a 52 week low of $14.47 and a 52 week high of $24.66. The firm has a market capitalization of $27.85 billion, a P/E ratio of 11.14, a PEG ratio of 2.01 and a beta of 1.20. The company has a 50 day moving average price of $22.12 and a 200 day moving average price of $20.45.

Hewlett Packard Enterprise Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Friday, December 20th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.52 dividend on an annualized basis and a yield of 2.46%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is 27.37%.

Insider Buying and Selling

In related news, SVP Jeremy Cox sold 11,577 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $23.00, for a total transaction of $266,271.00. Following the sale, the senior vice president now directly owns 48,615 shares of the company’s stock, valued at $1,118,145. This trade represents a 19.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John F. Schultz sold 262,818 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $21.62, for a total value of $5,682,125.16. Following the completion of the transaction, the executive vice president now directly owns 270,430 shares of the company’s stock, valued at $5,846,696.60. The trade was a 49.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 332,166 shares of company stock valued at $7,300,629 over the last quarter. 0.40% of the stock is currently owned by company insiders.

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.