Zacks Investment Research Lowers Hortonworks (NASDAQ:HDP) to Hold

Zacks Investment Research lowered shares of Hortonworks (NASDAQ:HDP) from a buy rating to a hold rating in a research report report published on Wednesday, January 3rd.

According to Zacks, “Hortonworks Inc. is involved in the development, distribution and support of Hadoop solutions primarily in the United States and internationally. The company provides an enterprise-grade data management platform to capture, store, process and analyze data. Hortonworks Inc. is headquartered in Palo Alto, California. “

A number of other analysts have also recently commented on the company. Royal Bank of Canada restated a buy rating and issued a $16.00 price target on shares of Hortonworks in a research report on Sunday, September 17th. BidaskClub cut Hortonworks from a buy rating to a hold rating in a research report on Wednesday, October 11th. Mizuho reiterated a hold rating and set a $14.00 target price on shares of Hortonworks in a research report on Thursday, November 2nd. Drexel Hamilton reiterated a buy rating and set a $22.00 target price on shares of Hortonworks in a research report on Thursday, September 21st. Finally, Northland Securities reiterated a buy rating and set a $24.00 target price on shares of Hortonworks in a research report on Thursday, October 19th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $21.92.

Shares of Hortonworks (NASDAQ HDP) traded up $0.28 during trading hours on Wednesday, hitting $20.83. The stock had a trading volume of 359,600 shares, compared to its average volume of 615,487. The company has a market capitalization of $1,480.00, a P/E ratio of -6.18 and a beta of 1.66. Hortonworks has a 1 year low of $8.74 and a 1 year high of $22.00.

Hortonworks (NASDAQ:HDP) last announced its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $69.00 million for the quarter, compared to the consensus estimate of $63.11 million. The company’s revenue for the quarter was up 45.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.68) earnings per share. equities analysts expect that Hortonworks will post -2.98 earnings per share for the current fiscal year.

In other news, CEO Robert G. Bearden sold 120,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $20.11, for a total value of $2,413,200.00. Following the sale, the chief executive officer now directly owns 2,099,626 shares in the company, valued at $42,223,478.86. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert G. Bearden sold 148,899 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $18.75, for a total value of $2,791,856.25. Following the transaction, the chief executive officer now owns 2,054,076 shares in the company, valued at $38,513,925. The disclosure for this sale can be found here. Insiders sold a total of 777,406 shares of company stock valued at $15,043,645 over the last ninety days. Corporate insiders own 22.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HDP. Elk Creek Partners LLC purchased a new position in shares of Hortonworks in the 3rd quarter valued at $3,152,000. State Street Corp increased its holdings in shares of Hortonworks by 8.8% in the 2nd quarter. State Street Corp now owns 779,256 shares of the software maker’s stock valued at $10,036,000 after acquiring an additional 62,903 shares during the period. Citadel Advisors LLC increased its holdings in shares of Hortonworks by 66.7% in the 3rd quarter. Citadel Advisors LLC now owns 266,820 shares of the software maker’s stock valued at $4,523,000 after acquiring an additional 106,777 shares during the period. Lyon Street Capital LLC increased its holdings in shares of Hortonworks by 27.0% in the 2nd quarter. Lyon Street Capital LLC now owns 272,095 shares of the software maker’s stock valued at $3,505,000 after acquiring an additional 57,845 shares during the period. Finally, Commonwealth Equity Services Inc purchased a new position in shares of Hortonworks in the 3rd quarter valued at $1,333,000. Institutional investors own 57.60% of the company’s stock.

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About Hortonworks

Hortonworks, Inc is a provider and distributor of enterprise-scale data management software platforms. The Company’s product offerings include Hortonworks Data Platform (HDP), Hortonworks Sandbox and Hortonworks DataFlow Platform (HDF). It provides support subscription offerings and related professional services for its enterprise-scale Connected Data Platforms, such as HDP and HDF.

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