Whale Rock Capital Management LLC Lowers Stock Holdings in Hewlett Packard Enterprise (NYSE:HPE)

Whale Rock Capital Management LLC cut its holdings in shares of Hewlett Packard Enterprise (NYSE:HPE) by 27.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,741,891 shares of the technology company’s stock after selling 1,386,862 shares during the period. Whale Rock Capital Management LLC owned about 0.29% of Hewlett Packard Enterprise worth $76,559,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cetera Investment Advisers boosted its holdings in Hewlett Packard Enterprise by 455.7% in the first quarter. Cetera Investment Advisers now owns 121,204 shares of the technology company’s stock valued at $2,149,000 after purchasing an additional 99,394 shares during the period. Cetera Advisors LLC grew its position in shares of Hewlett Packard Enterprise by 39.8% during the first quarter. Cetera Advisors LLC now owns 55,388 shares of the technology company’s stock worth $982,000 after buying an additional 15,774 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Hewlett Packard Enterprise by 16.9% during the second quarter. GAMMA Investing LLC now owns 5,421 shares of the technology company’s stock worth $115,000 after buying an additional 783 shares during the period. Mather Group LLC. lifted its stake in Hewlett Packard Enterprise by 24.6% in the second quarter. Mather Group LLC. now owns 8,374 shares of the technology company’s stock worth $177,000 after acquiring an additional 1,653 shares during the last quarter. Finally, CWM LLC grew its holdings in Hewlett Packard Enterprise by 41.9% during the 2nd quarter. CWM LLC now owns 61,979 shares of the technology company’s stock worth $1,312,000 after acquiring an additional 18,308 shares in the last quarter. Institutional investors and hedge funds own 80.78% of the company’s stock.

Hewlett Packard Enterprise Price Performance

Hewlett Packard Enterprise stock opened at $21.63 on Friday. The business has a 50 day simple moving average of $20.83 and a 200-day simple moving average of $19.85. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $22.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.94 and a quick ratio of 0.62. The stock has a market capitalization of $28.09 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 3.33 and a beta of 1.21.

Hewlett Packard Enterprise (NYSE:HPE) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.67 billion. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Equities analysts predict that Hewlett Packard Enterprise will post 1.66 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Friday, December 20th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.40%. Hewlett Packard Enterprise’s dividend payout ratio is presently 37.14%.

Wall Street Analysts Forecast Growth

HPE has been the subject of several recent analyst reports. Susquehanna reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Hewlett Packard Enterprise in a research report on Friday, October 11th. UBS Group lifted their price target on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Citigroup increased their price objective on Hewlett Packard Enterprise from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Morgan Stanley upgraded Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $23.00 to $28.00 in a research note on Thursday. Finally, Barclays upgraded shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $24.00 in a research report on Wednesday, September 25th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.71.

Insiders Place Their Bets

In related news, SVP Jeremy Cox sold 7,770 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $21.00, for a total value of $163,170.00. Following the completion of the sale, the senior vice president now owns 7,771 shares in the company, valued at $163,191. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Neil B. Macdonald sold 29,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,061 shares of the company’s stock, valued at approximately $1,395,037. This trade represents a 26.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 426,012 shares of company stock worth $8,599,617. Company insiders own 0.40% of the company’s stock.

About Hewlett Packard Enterprise

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.