Tintri, Inc. (NASDAQ:TNTR) shares fell 3.4% during trading on Monday after Needham & lowered their price target on the stock from $15.00 to $10.00. Needham & currently has a buy rating on the stock. Tintri traded as low as $4.32 and last traded at $4.40. 236,008 shares were traded during mid-day trading, a decline of 62% from the average session volume of 613,227 shares. The stock had previously closed at $4.55.

A number of other research analysts have also recently issued reports on TNTR. Piper Jaffray Companies reiterated a “neutral” rating and issued a $6.50 target price (down previously from $8.50) on shares of Tintri in a research report on Friday. William Blair cut Tintri from an “outperform” rating to a “market perform” rating in a research report on Friday. Bank of America Corporation cut Tintri from a “buy” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research report on Friday. Morgan Stanley cut Tintri from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $10.00 to $6.00 in a research report on Wednesday, August 23rd. Finally, KeyCorp began coverage on Tintri in a research report on Tuesday, July 25th. They issued an “overweight” rating and a $9.00 target price on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.83.

In other news, Director Christopher J. Schaepe purchased 597,858 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were purchased at an average cost of $7.00 per share, with a total value of $4,185,006.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Enterprise Associates 12 New purchased 926,429 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were purchased at an average cost of $7.00 per share, for a total transaction of $6,485,003.00. The disclosure for this purchase can be found here.

Several hedge funds have recently made changes to their positions in the company. Empyrean Capital Partners LP acquired a new stake in shares of Tintri during the second quarter valued at about $6,180,000. Goldman Sachs Group Inc. acquired a new stake in shares of Tintri during the second quarter valued at about $619,000. UBS Oconnor LLC acquired a new stake in shares of Tintri during the second quarter valued at about $1,454,000. Laurion Capital Management LP acquired a new stake in shares of Tintri during the second quarter valued at about $2,181,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Tintri during the second quarter valued at about $4,725,000. 51.23% of the stock is currently owned by hedge funds and other institutional investors.

The stock’s market cap is $138.79 million. The company’s 50 day moving average price is $7.70 and its 200 day moving average price is $7.50.

Tintri (NASDAQ:TNTR) last announced its quarterly earnings data on Thursday, September 7th. The company reported ($2.05) EPS for the quarter, missing the consensus estimate of ($1.97) by $0.08. The firm had revenue of $34.87 million during the quarter, compared to analysts’ expectations of $35.68 million. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. On average, equities research analysts anticipate that Tintri, Inc. will post ($3.51) EPS for the current fiscal year.

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Tintri Company Profile

Tintri, Inc is a United States-based company. The Company is engaged in the business of storage management solutions. The Company offers a range of products, including Tintri all-flash array, Tintri hybrid-flash array, Tintri Global Center (TGC), Tintri Analytics, Tintri Storage Software. The Company’s solutions include cloud, desktops, database system and servers, Data protection and disaster recovery and DevOps.

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