Investors Sell NetSuite Inc. (N) on Strength (N)
Investors sold shares of NetSuite Inc. (NYSE:N) on strength during trading on Monday. $16.99 million flowed into the stock on the tick-up and $69.88 million flowed out of the stock on the tick-down, for a money net flow of $52.89 million out of the stock. Of all equities tracked, NetSuite had the 0th highest net out-flow for the day. NetSuite traded up $0.04 for the day and closed at $108.68
Several research analysts have commented on the company. Mitsubishi UFJ Financial Group assumed coverage on NetSuite in a research note on Tuesday, April 12th. They set a “buy” rating and a $80.00 target price for the company. Vetr downgraded NetSuite from a “strong-buy” rating to a “buy” rating and set a $85.12 target price for the company. in a research note on Thursday, April 21st. Macquarie assumed coverage on NetSuite in a research note on Tuesday, April 26th. They set a “neutral” rating and a $69.00 target price for the company. FBR & Co boosted their target price on NetSuite from $90.00 to $94.00 and gave the stock an “outperform” rating in a research note on Friday, April 29th. Finally, MKM Partners boosted their target price on NetSuite from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Friday, April 29th. Two investment analysts have rated the stock with a sell rating, twenty-nine have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $89.60.
The firm’s market capitalization is $8.80 billion. The stock’s 50-day moving average price is $84.83 and its 200 day moving average price is $73.99.
NetSuite (NYSE:N) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.05. The business earned $230.80 million during the quarter, compared to the consensus estimate of $230.58 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. NetSuite’s quarterly revenue was up 30.2% compared to the same quarter last year. Analysts expect that NetSuite Inc. will post $0.49 earnings per share for the current fiscal year.
In related news, SVP Michael Forman sold 357 shares of NetSuite stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $82.90, for a total transaction of $29,595.30. Following the sale, the senior vice president now directly owns 23,884 shares in the company, valued at $1,979,983.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Mcgeever sold 36,160 shares of NetSuite 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 sale, the insider now owns 379,507 shares in the company, valued at $34,155,630. The disclosure for this sale can be found here.
Several large investors have recently added to or reduced their stakes in N. 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 valued at $1,256,000 after buying an additional 4,819 shares in the last quarter. Rhumbline Advisers raised its stake in NetSuite by 1.3% in the fourth quarter. Rhumbline Advisers now owns 38,200 shares of the company’s stock valued at $3,232,000 after buying an additional 497 shares in the last quarter. 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 valued at $4,978,000 after buying an additional 9,120 shares in the last quarter. Finally, 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 valued at $5,008,000 after buying an additional 7,471 shares in 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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