Bank of America Issues Pessimistic Forecast for Hewlett Packard Enterprise (NYSE:HPE) Stock Price

Hewlett Packard Enterprise (NYSE:HPE) had its price target decreased by stock analysts at Bank of America from $26.00 to $20.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Bank of America‘s price target would suggest a potential upside of 26.46% from the stock’s current price.

Several other research analysts also recently weighed in on the company. Morgan Stanley upgraded Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $23.00 to $28.00 in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Thursday, December 19th. Citigroup upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and lifted their target price for the company from $23.00 to $26.00 in a research note on Friday, December 6th. Loop Capital raised their price target on Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, Barclays reduced their price target on Hewlett Packard Enterprise from $27.00 to $20.00 and set an “overweight” rating for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.21.

Hewlett Packard Enterprise Trading Down 11.9 %

Shares of HPE stock opened at $15.82 on Friday. The business’s 50 day moving average is $21.47 and its two-hundred day moving average is $20.72. Hewlett Packard Enterprise has a twelve month low of $14.93 and a twelve month high of $24.66. The company has a market capitalization of $20.77 billion, a P/E ratio of 8.32, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Insider Transactions at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 11,577 shares of Hewlett Packard Enterprise stock in a transaction on Monday, January 6th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Schultz sold 262,818 shares of Hewlett Packard Enterprise stock in a transaction 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 sale, the executive vice president now directly owns 270,430 shares of the company’s stock, valued at approximately $5,846,696.60. This represents a 49.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 324,395 shares of company stock valued at $7,121,896 over the last three months. 0.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hewlett Packard Enterprise

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Hewlett Packard Enterprise by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 32,173,982 shares of the technology company’s stock valued at $686,011,000 after acquiring an additional 681,242 shares during the period. Pacer Advisors Inc. grew its position in Hewlett Packard Enterprise by 18.1% during the third quarter. Pacer Advisors Inc. now owns 27,383,858 shares of the technology company’s stock valued at $560,274,000 after acquiring an additional 4,194,213 shares during the period. Northern Trust Corp grew its position in Hewlett Packard Enterprise by 24.7% during the fourth quarter. Northern Trust Corp now owns 16,184,240 shares of the technology company’s stock valued at $345,534,000 after acquiring an additional 3,208,424 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Hewlett Packard Enterprise by 6.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,696,449 shares of the technology company’s stock valued at $321,149,000 after acquiring an additional 921,624 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Hewlett Packard Enterprise during the fourth quarter valued at about $292,959,000. Hedge funds and other institutional investors own 80.78% of the company’s stock.

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.