Traders Sell NetSuite Inc. (N) on Strength (N)
Traders sold shares of NetSuite Inc. (NYSE:N) on strength during trading on Thursday. $250.89 million flowed into the stock on the tick-up and $393.58 million flowed out of the stock on the tick-down, for a money net flow of $142.69 million out of the stock. Of all equities tracked, NetSuite had the 0th highest net out-flow for the day. NetSuite traded up $16.84 for the day and closed at $108.41
Several equities research analysts recently commented on the company. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $93.00 price objective on shares of NetSuite in a research report on Thursday, May 5th. FBR & Co increased their price objective on NetSuite from $90.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, April 29th. Mitsubishi UFJ Financial Group downgraded NetSuite from an “overweight” rating to a “neutral” rating in a report on Friday. BMO Capital Markets lowered their target price on NetSuite from $109.00 to $90.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Morgan Stanley reissued a “sell” rating on shares of NetSuite in a report on Saturday, April 30th. Two equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $86.16.
The firm’s 50 day moving average price is $79.65 and its 200 day moving average price is $72.43. The stock’s market capitalization is $8.78 billion.
NetSuite (NYSE:N) last announced its earnings results on Thursday, July 28th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. During the same period in the previous year, the company earned $0.02 EPS. The firm had revenue of $230.80 million for the quarter, compared to analyst estimates of $230.58 million. NetSuite’s revenue was up 30.2% compared to the same quarter last year. On average, equities research analysts predict that NetSuite Inc. will post $0.46 earnings per share for the current year.
In other NetSuite news, CFO Ronald S. Gill sold 339 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $75.91, for a total transaction of $25,733.49. Following the completion of the transaction, the chief financial officer now owns 93,407 shares of the company’s stock, valued at $7,090,525.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Mcgeever sold 36,160 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $90.00, for a total value of $3,254,400.00. Following the transaction, the insider now directly owns 379,507 shares of the company’s stock, valued at approximately $34,155,630. The disclosure for this sale can be found here.
Other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of NetSuite by 1.3% in the fourth quarter. Rhumbline Advisers now owns 38,200 shares of the company’s stock worth $3,232,000 after buying an additional 497 shares during the last quarter. New York State Common Retirement Fund raised 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 worth $18,430,000 after buying an additional 8,900 shares during the period. Schroder Investment Management Group raised 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 worth $5,008,000 after buying an additional 7,471 shares during the period. Pitcairn Co. raised its stake in NetSuite by 48.1% in the fourth quarter. Pitcairn Co. now owns 14,846 shares of the company’s stock worth $1,256,000 after buying an additional 4,819 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in 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.
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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