Margaret C. Whitman Sells 235,050 Shares of Hewlett Packard Enterprise Company (HPE) Stock
Hewlett Packard Enterprise Company (NYSE:HPE) CEO Margaret C. Whitman sold 235,050 shares of Hewlett Packard Enterprise stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $13.81, for a total value of $3,246,040.50. Following the transaction, the chief executive officer now owns 980,346 shares in the company, valued at approximately $13,538,578.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings data on Tuesday, September 5th. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.49 billion. Hewlett Packard Enterprise had a return on equity of 9.04% and a net margin of 0.29%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.49 EPS.
Hewlett Packard Enterprise declared that its board has approved a share repurchase program on Wednesday, October 18th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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HPE has been the topic of several analyst reports. TheStreet upgraded Hewlett Packard Enterprise from a “c” rating to a “b-” rating in a report on Monday, October 16th. Mizuho reiterated a “buy” rating on shares of Hewlett Packard Enterprise in a report on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating and set a $22.00 price target on shares of Hewlett Packard Enterprise in a report on Saturday, July 22nd. ValuEngine upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $17.00 price target on shares of Hewlett Packard Enterprise in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Hewlett Packard Enterprise currently has an average rating of “Hold” and a consensus price target of $17.79.
Institutional investors have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp purchased a new position in shares of Hewlett Packard Enterprise in the 2nd quarter worth about $2,193,000. Synovus Financial Corp raised its holdings in shares of Hewlett Packard Enterprise by 11.5% in the 2nd quarter. Synovus Financial Corp now owns 254,871 shares of the technology company’s stock worth $4,226,000 after purchasing an additional 26,288 shares during the period. Motco raised its holdings in shares of Hewlett Packard Enterprise by 929.3% in the 2nd quarter. Motco now owns 10,633 shares of the technology company’s stock worth $176,000 after purchasing an additional 9,600 shares during the period. Budros Ruhlin & Roe Inc. raised its holdings in shares of Hewlett Packard Enterprise by 1.4% in the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 24,657 shares of the technology company’s stock worth $409,000 after purchasing an additional 352 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Hewlett Packard Enterprise by 40.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,073,920 shares of the technology company’s stock worth $250,075,000 after purchasing an additional 4,339,462 shares during the period. Institutional investors own 81.16% of the company’s stock.
About Hewlett Packard Enterprise
Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).
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