E2open Parent (NYSE:ETWO) Posts Quarterly Earnings Results, Hits Expectations

E2open Parent (NYSE:ETWO) released its earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.02, Fidelity Earnings reports.

Shares of ETWO opened at $11.47 on Thursday. The business’s fifty day moving average price is $11.46 and its 200 day moving average price is $11.34. E2open Parent has a 12-month low of $8.26 and a 12-month high of $14.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.68 and a current ratio of 1.68.

In other E2open Parent news, Director Chinh Chu acquired 28,302 shares of the firm’s stock in a transaction on Wednesday, September 1st. The stock was purchased at an average cost of $10.60 per share, for a total transaction of $300,001.20. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Elliott Investment Management sold 407,909 shares of E2open Parent stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $12.20, for a total value of $4,976,489.80. The disclosure for this sale can be found here. Insiders sold 1,670,148 shares of company stock worth $19,553,674 over the last quarter. 7.06% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Invesco Ltd. acquired a new position in E2open Parent during the second quarter valued at approximately $203,000. Bank of America Corp DE boosted its holdings in shares of E2open Parent by 91.9% during the 2nd quarter. Bank of America Corp DE now owns 23,123 shares of the company’s stock valued at $264,000 after acquiring an additional 11,073 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of E2open Parent by 59.0% in the 2nd quarter. Morgan Stanley now owns 3,510,041 shares of the company’s stock valued at $40,085,000 after purchasing an additional 1,302,390 shares during the period. Institutional investors own 95.88% of the company’s stock.

Separately, Bank of America began coverage on shares of E2open Parent in a report on Thursday, September 30th. They issued a “neutral” rating and a $14.00 target price on the stock.

About E2open Parent

E2open Parent Holdings, Inc provides cloud-based and end-to-end supply chain management SaaS platform in the Americas, Europe, and the Asia Pacific. The company's software solutions orchestrate supply chains and realize value and return on investment for its blue-chip customers. Its software combines networks, data, and applications to provide a platform that allows customers to optimize their supply chain across channel shaping, demand sensing, business planning, global trade management, transportation and logistics, collaborative manufacturing, and supply management.

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