Wells Fargo & Company Lowers Hewlett Packard Enterprise (NYSE:HPE) Price Target to $17.00

Hewlett Packard Enterprise (NYSE:HPE) had its target price lowered by stock analysts at Wells Fargo & Company from $22.00 to $17.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.49% from the stock’s current price.

A number of other equities analysts have also commented on the company. Deutsche Bank Aktiengesellschaft raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Thursday, December 19th. Bank of America dropped their price target on Hewlett Packard Enterprise from $26.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup raised Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their price target for the company from $23.00 to $26.00 in a research note on Friday, December 6th. Stifel Nicolaus boosted their price target on Hewlett Packard Enterprise from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Loop Capital boosted their price target on Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.21.

Hewlett Packard Enterprise Stock Performance

Shares of HPE stock opened at $15.82 on Friday. The business’s 50-day moving average price is $21.47 and its 200-day moving average price is $20.72. Hewlett Packard Enterprise has a 12 month low of $14.93 and a 12 month high of $24.66. The firm has a market capitalization of $20.77 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 2.03 and a beta of 1.20. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, Director Gary M. Reiner sold 50,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 104,192 shares of the company’s stock, valued at approximately $2,445,386.24. The trade was a 32.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeremy Cox sold 11,577 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 48,615 shares in the company, valued at approximately $1,118,145. This represents a 19.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 324,395 shares of company stock valued at $7,121,896. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Putney Financial Group LLC purchased a new position in shares of Hewlett Packard Enterprise during the 4th quarter valued at $25,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Hewlett Packard Enterprise during the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Hewlett Packard Enterprise during the 3rd quarter valued at $26,000. Hara Capital LLC purchased a new position in shares of Hewlett Packard Enterprise during the 4th quarter valued at $28,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Hewlett Packard Enterprise during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 80.78% 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.