Wells Fargo & Company Lowers Hewlett Packard Enterprise (NYSE:HPE) Price Target to $17.00

Hewlett Packard Enterprise (NYSE:HPE) had its target price cut by stock analysts at Wells Fargo & Company from $22.00 to $17.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 7.49% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Stifel Nicolaus upped their target price on Hewlett Packard Enterprise from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Morgan Stanley upgraded Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $23.00 to $28.00 in a research note on Thursday, December 5th. Loop Capital upped their target price on Hewlett Packard Enterprise from $18.00 to $24.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. StockNews.com lowered Hewlett Packard Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Citigroup upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and increased their price objective for the company from $23.00 to $26.00 in a research report on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.21.

Hewlett Packard Enterprise Price Performance

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

Insider Buying and Selling

In other Hewlett Packard Enterprise news, Director Gary M. Reiner sold 50,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.47, for a total value of $1,173,500.00. Following the completion of the sale, the director now owns 104,192 shares in the company, valued at approximately $2,445,386.24. This trade represents a 32.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jeremy Cox sold 11,577 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $23.00, for a total value of $266,271.00. Following the completion of the transaction, the senior vice president now owns 48,615 shares of the company’s stock, valued at approximately $1,118,145. The trade was a 19.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 324,395 shares of company stock worth $7,121,896 in the last ninety days. 0.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at approximately $27,528,000. Brooklyn FI LLC bought a new position in Hewlett Packard Enterprise during the 4th quarter valued at approximately $5,182,000. Jefferies Financial Group Inc. bought a new position in Hewlett Packard Enterprise during the 4th quarter valued at approximately $249,000. B. Riley Wealth Advisors Inc. increased its position in Hewlett Packard Enterprise by 34.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 57,274 shares of the technology company’s stock valued at $1,229,000 after buying an additional 14,633 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new position in Hewlett Packard Enterprise during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Hewlett Packard Enterprise Company Profile

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.