Shares of NetSuite Inc. (NYSE:N) fell 3.8% during mid-day trading on Wednesday . The company traded as low as $80.57 and last traded at $81.00, with a volume of 976,770 shares. The stock had previously closed at $84.18.

A number of research firms have issued reports on N. Zacks Investment Research downgraded NetSuite from a “buy” rating to a “hold” rating in a research note on Thursday, March 31st. MKM Partners lifted their price objective on NetSuite from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, April 29th. Vetr downgraded NetSuite from a “buy” rating to a “hold” rating and set a $79.74 target price on the stock. in a research report on Wednesday, April 27th. Goldman Sachs Group Inc. initiated coverage on NetSuite in a research report on Monday, May 23rd. They set a “sell” rating and a $68.00 target price on the stock. Finally, Cowen and Company reissued an “underperform” rating and set a $70.00 target price on shares of NetSuite in a research report on Wednesday. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. NetSuite has an average rating of “Hold” and an average target price of $82.66.

The firm’s 50-day moving average price is $77.90 and its 200 day moving average price is $71.94. The stock’s market cap is $6.40 billion.

NetSuite (NYSE:N) last released its earnings results on Thursday, April 28th. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.08. During the same period in the previous year, the firm earned $0.11 earnings per share. The company had revenue of $216.60 million for the quarter, compared to analyst estimates of $213.45 million. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that NetSuite Inc. will post $0.45 EPS for the current fiscal year.

In other NetSuite news, SVP Douglas P. Solomon sold 500 shares of NetSuite stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the sale, the senior vice president now directly owns 53,692 shares of the company’s stock, valued at approximately $4,026,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Douglas P. Solomon sold 1,000 shares of NetSuite stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $85.00, for a total value of $85,000.00. Following the sale, the senior vice president now directly owns 49,434 shares of the company’s stock, valued at $4,201,890. The disclosure for this sale can be found here.

A number of hedge funds have made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of NetSuite by 18.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 58,827 shares of the company’s stock worth $4,978,000 after buying an additional 9,120 shares during the period. Pitcairn Co. increased its stake in NetSuite by 48.1% in the fourth quarter. Pitcairn Co. now owns 14,846 shares of the company’s stock valued at $1,256,000 after buying an additional 4,819 shares during the last quarter. Schroder Investment Management Group increased its stake in NetSuite by 14.4% in the fourth quarter. Schroder Investment Management Group now owns 59,178 shares of the company’s stock valued at $5,008,000 after buying an additional 7,471 shares during the last quarter. Brown Advisory Inc. increased its stake in NetSuite by 34.7% in the fourth quarter. Brown Advisory Inc. now owns 3,128,392 shares of the company’s stock valued at $264,725,000 after buying an additional 805,323 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in NetSuite by 4.3% in the fourth quarter. New York State Common Retirement Fund now owns 217,800 shares of the company’s stock valued at $18,430,000 after buying an additional 8,900 shares during the last quarter.

NetSuite Inc (NetSuite) is a provider of cloud-based financials, enterprise resource planning and omnichannel commerce software suites. The Company offers a suite of applications, including financial management, customer relationship management, e-commerce and retail management, commerce marketing automation, professional services automation and human capital management that enable companies to manage business operations in an integrated suite.

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