Hortonworks, Inc. (NASDAQ:HDP) Lowered to “Sell” at Zacks Investment Research
Hortonworks, Inc. (NASDAQ:HDP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Hortonworks Inc. is involved in the development, distribution and support of Hadoop solutions primarily in the United States and internationally. The company provides an enterprise-grade data management platform to capture, store, process and analyze data. Hortonworks Inc. is headquartered in Palo Alto, California. “
HDP has been the topic of a number of other research reports. Wunderlich increased their price objective on Hortonworks from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, June 14th. Sanford C. Bernstein assumed coverage on Hortonworks in a report on Wednesday, May 24th. They set an “outperform” rating and a $21.00 price objective on the stock. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Hortonworks in a report on Thursday, May 4th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Hortonworks in a report on Monday, June 12th. Finally, Mizuho cut Hortonworks from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $13.00 to $14.00 in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Hortonworks presently has a consensus rating of “Buy” and a consensus target price of $17.54.
Shares of Hortonworks (HDP) traded down 0.81% on Tuesday, hitting $14.78. The company had a trading volume of 1,253,865 shares. The firm’s market capitalization is $611.40 million. The company has a 50 day moving average price of $13.27 and a 200 day moving average price of $11.36. Hortonworks has a 1-year low of $6.42 and a 1-year high of $15.18.
Hortonworks (NASDAQ:HDP) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.87) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.87). The business had revenue of $61.83 million for the quarter, compared to analysts’ expectations of $57.62 million. Hortonworks had a negative return on equity of 1,685.64% and a negative net margin of 107.07%. The firm’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.72) EPS. On average, equities analysts forecast that Hortonworks will post ($1.73) earnings per share for the current fiscal year.
In other news, insider Shaun Connolly sold 88,875 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $13.09, for a total transaction of $1,163,373.75. Following the transaction, the insider now directly owns 522,962 shares in the company, valued at approximately $6,845,572.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Greg Pavlik sold 100,000 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $12.37, for a total value of $1,237,000.00. Following the transaction, the insider now owns 254,630 shares in the company, valued at $3,149,773.10. The disclosure for this sale can be found here. Insiders sold a total of 452,222 shares of company stock worth $5,796,759 over the last 90 days. Corporate insiders own 26.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in HDP. Legal & General Group Plc raised its position in shares of Hortonworks by 8.1% in the second quarter. Legal & General Group Plc now owns 11,149 shares of the software maker’s stock valued at $144,000 after buying an additional 837 shares during the period. Princeton Alpha Management LP purchased a new position in shares of Hortonworks during the first quarter valued at approximately $110,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Hortonworks during the first quarter valued at approximately $117,000. FNY Partners Fund LP purchased a new position in shares of Hortonworks during the first quarter valued at approximately $117,000. Finally, Edge Wealth Management LLC raised its position in shares of Hortonworks by 77.2% in the second quarter. Edge Wealth Management LLC now owns 14,350 shares of the software maker’s stock valued at $182,000 after buying an additional 6,250 shares during the period. Hedge funds and other institutional investors own 50.19% of the company’s stock.
Hortonworks Company Profile
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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