Hortonworks, Inc. (HDP) Given “Buy” Rating at Drexel Hamilton
Hortonworks, Inc. (NASDAQ:HDP)‘s stock had its “buy” rating restated by equities researchers at Drexel Hamilton in a note issued to investors on Thursday. They currently have a $22.00 price target on the software maker’s stock. Drexel Hamilton’s price objective indicates a potential upside of 29.95% from the company’s previous close.
HDP has been the topic of several other reports. Zacks Investment Research raised Hortonworks from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Thursday, July 20th. BidaskClub raised Hortonworks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Craig Hallum initiated coverage on Hortonworks in a research report on Monday, July 17th. They set a “buy” rating and a $23.00 price target on the stock. Northland Securities reissued a “buy” rating and set a $24.00 price target on shares of Hortonworks in a research report on Monday, July 17th. Finally, Wunderlich upped their price target on Hortonworks from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.13.
Hortonworks (NASDAQ:HDP) last announced its earnings results on Thursday, August 3rd. The software maker reported ($0.87) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.87). Hortonworks had a negative return on equity of 765.37% and a negative net margin of 107.07%. The company had revenue of $61.83 million for the quarter, compared to analyst estimates of $57.62 million. During the same period in the prior year, the company posted ($0.72) EPS. Hortonworks’s quarterly revenue was up 41.6% on a year-over-year basis.
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In related news, insider Scott Davidson sold 30,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $16.69, for a total value of $500,700.00. Following the completion of the sale, the insider now directly owns 1,131,322 shares of the company’s stock, valued at approximately $18,881,764.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert G. Bearden sold 250,000 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $17.13, for a total value of $4,282,500.00. Following the completion of the sale, the chief executive officer now directly owns 341,747 shares of the company’s stock, valued at $5,854,126.11. The disclosure for this sale can be found here. Insiders sold a total of 754,264 shares of company stock valued at $12,138,734 in the last quarter. 26.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in HDP. Nikko Asset Management Americas Inc. raised its stake in shares of Hortonworks by 885.5% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 674,100 shares of the software maker’s stock worth $8,682,000 after purchasing an additional 605,700 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Hortonworks by 862.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 650,500 shares of the software maker’s stock worth $8,378,000 after purchasing an additional 582,900 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Hortonworks by 71.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 990,363 shares of the software maker’s stock worth $12,756,000 after purchasing an additional 412,539 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Hortonworks by 13.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,257,682 shares of the software maker’s stock worth $41,959,000 after purchasing an additional 389,514 shares in the last quarter. Finally, Herald Investment Management Ltd purchased a new stake in shares of Hortonworks during the 1st quarter worth about $3,528,000. 49.62% of the stock is owned by hedge funds and other institutional investors.
Hortonworks, Inc is a provider and distributor of 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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