HP (NYSE:HPQ) Shares Gap Down on Insider Selling

HP Inc. (NYSE:HPQ) gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $31.83, but opened at $27.30. HP shares last traded at $29.0090, with a volume of 6,699,660 shares traded.

Specifically, insider Anneliese Olson sold 18,997 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $32.56, for a total transaction of $618,542.32. Following the completion of the sale, the insider owned 169 shares in the company, valued at $5,502.64. This trade represents a 99.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of HP from $19.00 to $21.00 and gave the company a “sell” rating in a research note on Wednesday, August 12th. Wall Street Zen cut HP from a “buy” rating to a “hold” rating in a research note on Saturday, September 26th. Barclays lifted their price objective on HP from $19.00 to $23.00 and gave the company an “underweight” rating in a research note on Friday, August 28th. TD Cowen boosted their price target on shares of HP from $26.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, August 27th. Finally, Zacks Research cut HP from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $25.42.

HP Stock Down 9.1%

The firm has a market capitalization of $26.10 billion, a PE ratio of 10.99, a P/E/G ratio of 1.69 and a beta of 1.17. The firm’s 50 day moving average price is $31.74 and its two-hundred day moving average price is $24.50.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, August 26th. The computer maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The firm had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.44 billion. HP had a net margin of 4.14% and a negative return on equity of 947.78%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. On average, sell-side analysts anticipate that HP Inc. will post 3.23 earnings per share for the current fiscal year.

Institutional Trading of HP

Institutional investors and hedge funds have recently modified their holdings of the company. First Nebraska Trust Co bought a new position in HP during the third quarter valued at about $2,483,000. Eads & Heald Wealth Management bought a new position in HP during the third quarter worth about $238,000. Welch Group LLC acquired a new stake in HP during the 3rd quarter worth $284,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in HP during the 3rd quarter worth approximately $9,718,000. Finally, Cidel Asset Management Inc. boosted its stake in HP by 4.2% in the 3rd quarter. Cidel Asset Management Inc. now owns 26,569 shares of the computer maker’s stock worth $831,000 after purchasing an additional 1,068 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

About HP

HP Inc (NYSE: HPQ) is a global technology company that develops personal computing and printing products, services, and solutions. Its portfolio includes laptops, desktop computers, workstations, monitors, peripherals, printers, digital printing systems, and related supplies such as ink and toner.

The company serves consumers, small and medium-sized businesses, large enterprises, and public-sector organizations through direct sales, online channels, retailers, distributors, and other business partners.