Traders Sell NetSuite Inc. (N) on Strength (N)
Investors sold shares of NetSuite Inc. (NYSE:N) on strength during trading hours on Tuesday. $9.13 million flowed into the stock on the tick-up and $40.58 million flowed out of the stock on the tick-down, for a money net flow of $31.45 million out of the stock. Of all stocks tracked, NetSuite had the 0th highest net out-flow for the day. NetSuite traded up $0.05 for the day and closed at $108.73
Several equities analysts have commented on N shares. Morgan Stanley reissued a “sell” rating on shares of NetSuite in a research note on Saturday, April 30th. FBN Securities lowered their target price on shares of NetSuite from $100.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, May 2nd. FBR & Co raised their target price on shares of NetSuite from $90.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, April 29th. Societe Generale raised shares of NetSuite from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Finally, BTIG Research reissued a “neutral” rating on shares of NetSuite in a research note on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, twenty-nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $89.60.
The firm’s market cap is $8.80 billion. The firm has a 50 day moving average price of $85.68 and a 200-day moving average price of $74.25.
NetSuite (NYSE:N) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The firm had revenue of $230.80 million for the quarter, compared to analyst estimates of $230.58 million. The company’s revenue was up 30.2% compared to the same quarter last year. During the same period last year, the company earned $0.02 EPS. Analysts forecast that NetSuite Inc. will post $0.49 EPS for the current fiscal year.
In other news, SVP Michael Forman sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $97.73, for a total transaction of $146,595.00. Following the sale, the senior vice president now owns 24,884 shares in the company, valued at approximately $2,431,913.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Douglas P. Solomon sold 1,000 shares of the company’s stock in a transaction that occurred on 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 owns 49,434 shares in the company, valued at approximately $4,201,890. The disclosure for this sale can be found here.
Several large investors recently made changes to their positions in the company. Pitcairn Co. boosted its stake in shares of 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 in the last quarter. Rhumbline Advisers boosted its stake in 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 period. Dimensional Fund Advisors LP boosted 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. Finally, Schroder Investment Management Group boosted 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.
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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