Hewlett Packard Enterprise (NYSE:HPE) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System lifted its stake in shares of Hewlett Packard Enterprise (NYSE:HPE) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 505,181 shares of the technology company’s stock after acquiring an additional 2,000 shares during the quarter. State of Michigan Retirement System’s holdings in Hewlett Packard Enterprise were worth $10,786,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. raised its position in Hewlett Packard Enterprise by 3,537.0% in the third quarter. Eagle Asset Management Inc. now owns 5,788,154 shares of the technology company’s stock worth $127,571,000 after acquiring an additional 5,629,006 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Hewlett Packard Enterprise in the 3rd quarter worth approximately $105,185,000. Pacer Advisors Inc. raised its holdings in shares of Hewlett Packard Enterprise by 18.1% in the 3rd quarter. Pacer Advisors Inc. now owns 27,383,858 shares of the technology company’s stock worth $560,274,000 after purchasing an additional 4,194,213 shares in the last quarter. Nordea Investment Management AB lifted its stake in Hewlett Packard Enterprise by 35.1% during the fourth quarter. Nordea Investment Management AB now owns 7,253,035 shares of the technology company’s stock valued at $155,142,000 after purchasing an additional 1,885,559 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Hewlett Packard Enterprise by 61.6% during the third quarter. National Bank of Canada FI now owns 3,504,681 shares of the technology company’s stock worth $71,706,000 after buying an additional 1,335,318 shares in the last quarter. Institutional investors own 80.78% of the company’s stock.

Hewlett Packard Enterprise Stock Performance

Shares of HPE opened at $18.89 on Thursday. Hewlett Packard Enterprise has a 52 week low of $15.77 and a 52 week high of $24.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.29. The company has a market capitalization of $24.81 billion, a PE ratio of 9.94, a PEG ratio of 2.03 and a beta of 1.19. The company’s 50 day moving average price is $21.67 and its 200 day moving average price is $20.75.

Insider Activity

In related news, SVP Jeremy Cox sold 11,577 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $23.00, for a total value of $266,271.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the director now owns 104,192 shares in the company, valued at $2,445,386.24. This represents a 32.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 332,166 shares of company stock worth $7,300,629 in the last ninety days. Corporate insiders own 0.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on HPE. Morgan Stanley raised Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $23.00 to $28.00 in a report on Thursday, December 5th. Stifel Nicolaus boosted their target price on Hewlett Packard Enterprise from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. StockNews.com lowered Hewlett Packard Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Citigroup upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $23.00 to $26.00 in a report on Friday, December 6th. Finally, Loop Capital raised their target price on shares of Hewlett Packard Enterprise from $18.00 to $24.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.00.

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.