Wells Fargo & Company MN lowered its position in shares of Cray Inc. (NASDAQ:CRAY) by 31.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 834,658 shares of the technology company’s stock after selling 389,567 shares during the quarter. Wells Fargo & Company MN owned about 2.06% of Cray worth $16,234,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CRAY. Vanguard Group Inc. raised its position in shares of Cray by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,620,407 shares of the technology company’s stock worth $66,615,000 after purchasing an additional 118,976 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cray by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,959,980 shares of the technology company’s stock worth $36,064,000 after purchasing an additional 326,742 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Cray by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,311,088 shares of the technology company’s stock worth $25,502,000 after purchasing an additional 20,811 shares during the last quarter. American Century Companies Inc. raised its position in shares of Cray by 6.1% in the 3rd quarter. American Century Companies Inc. now owns 989,616 shares of the technology company’s stock worth $19,248,000 after purchasing an additional 57,313 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Cray by 1.9% in the 2nd quarter. Voya Investment Management LLC now owns 986,510 shares of the technology company’s stock worth $18,152,000 after purchasing an additional 18,454 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.
CRAY has been the subject of several recent analyst reports. Zacks Investment Research lowered Cray from a “hold” rating to a “sell” rating in a research report on Monday, January 1st. Wells Fargo & Co initiated coverage on Cray in a research report on Tuesday, November 14th. They issued an “outperform” rating and a $26.00 price target for the company. TheStreet raised Cray from a “d+” rating to a “c-” rating in a research report on Monday, November 27th. BidaskClub downgraded Cray from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Finally, Craig Hallum upgraded Cray from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Cray presently has an average rating of “Buy” and a consensus target price of $24.40.
In other Cray news, SVP Charles A. Morreale sold 42,680 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $19.37, for a total transaction of $826,711.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Charles Piraino sold 30,000 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $22.61, for a total value of $678,300.00. Following the sale, the senior vice president now owns 72,384 shares of the company’s stock, valued at $1,636,602.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,005 shares of company stock valued at $1,534,913. Corporate insiders own 4.00% of the company’s stock.
Cray Inc. (NASDAQ:CRAY) remained flat at $$25.55 during midday trading on Friday. The stock had a trading volume of 290,412 shares, compared to its average volume of 380,622. The company has a market capitalization of $1,030.00, a P/E ratio of 102.20 and a beta of 1.69. Cray Inc. has a fifty-two week low of $16.10 and a fifty-two week high of $26.65.
Cray (NASDAQ:CRAY) last released its quarterly earnings results on Monday, October 30th. The technology company reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.16. The business had revenue of $79.70 million during the quarter, compared to the consensus estimate of $59.67 million. Cray had a return on equity of 0.73% and a net margin of 2.71%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.49) EPS. analysts forecast that Cray Inc. will post -1.14 EPS for the current fiscal year.
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Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.
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