Hortonworks Inc. (HDP) Lowered to Sell at Goldman Sachs Group Inc.
Goldman Sachs Group Inc. lowered shares of Hortonworks Inc. (NASDAQ:HDP) from a buy rating to a sell rating in a research note issued to investors on Thursday. They currently have $7.00 price objective on the stock, down from their prior price objective of $13.00. The analysts noted that the move was a valuation call.
HDP has been the subject of several other reports. Mizuho reaffirmed a neutral rating and issued a $10.00 target price on shares of Hortonworks in a research note on Tuesday, October 4th. Wunderlich reissued a buy rating on shares of Hortonworks in a research note on Wednesday, July 6th. Northland Securities assumed coverage on shares of Hortonworks in a research note on Friday, June 17th. They set an outperform rating and a $24.00 price objective for the company. Zacks Investment Research raised shares of Hortonworks from a sell rating to a hold rating in a research note on Tuesday, July 5th. Finally, Drexel Hamilton reissued a buy rating and set a $30.00 price objective on shares of Hortonworks in a research note on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $17.50.
Shares of Hortonworks (NASDAQ:HDP) traded down 4.46% during trading on Thursday, reaching $6.85. 601,192 shares of the company were exchanged. The firm’s 50 day moving average price is $7.98 and its 200 day moving average price is $10.24. Hortonworks has a one year low of $6.81 and a one year high of $22.82. The company’s market capitalization is $283.36 million.
Hortonworks (NASDAQ:HDP) last released its earnings results on Thursday, August 4th. The company reported ($0.72) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.70) by $0.02. The firm earned $43.60 million during the quarter, compared to analysts’ expectations of $45.24 million. Hortonworks had a negative return on equity of 236.91% and a negative net margin of 144.53%. The firm’s revenue was up 45.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.82) earnings per share. Equities research analysts forecast that Hortonworks will post ($2.65) earnings per share for the current fiscal year.
In related news, insider Scott Reasoner sold 2,594 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $12.44, for a total transaction of $32,269.36. Following the completion of the sale, the insider now directly owns 135,874 shares of the company’s stock, valued at $1,690,272.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Greg Pavlik sold 76,313 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $9.13, for a total transaction of $696,737.69. Following the sale, the insider now directly owns 386,580 shares of the company’s stock, valued at $3,529,475.40. The disclosure for this sale can be found here. 26.00% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in HDP. BlackRock Fund Advisors raised its stake in Hortonworks by 338.5% in the second quarter. BlackRock Fund Advisors now owns 952,425 shares of the company’s stock valued at $10,181,000 after buying an additional 735,241 shares in the last quarter. FMR LLC increased its stake in shares of Hortonworks by 19.0% in the second quarter. FMR LLC now owns 4,591,300 shares of the company’s stock valued at $49,081,000 after buying an additional 731,490 shares during the period. Harvest Capital Strategies LLC increased its stake in shares of Hortonworks by 153.3% in the first quarter. Harvest Capital Strategies LLC now owns 950,000 shares of the company’s stock valued at $10,735,000 after buying an additional 575,000 shares during the period. State Street Corp increased its stake in shares of Hortonworks by 261.8% in the second quarter. State Street Corp now owns 627,648 shares of the company’s stock valued at $6,707,000 after buying an additional 454,176 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Hortonworks by 17.7% in the second quarter. Vanguard Group Inc. now owns 2,609,182 shares of the company’s stock valued at $27,892,000 after buying an additional 392,256 shares during the period. 51.80% of the stock is owned by institutional investors and hedge funds.
Hortonworks, Inc is a provider and distributor of an enterprise-scale data management software platforms. The Company’s product offerings include Hortonworks Data Platform (HDP), Hortonworks Sandbox and Hortonworks DataFlow Platform (HDF). It provides support subscription offerings and related professional services for its enterprise-scale Connected Data Platforms, such as HDP and HDF.
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