BidaskClub Downgrades Hortonworks (HDP) to Hold

Hortonworks (NASDAQ:HDP) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

HDP has been the topic of several other reports. Royal Bank of Canada restated a “buy” rating and issued a $20.00 price target on shares of Hortonworks in a research report on Friday, November 3rd. Zacks Investment Research lowered shares of Hortonworks from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Drexel Hamilton restated a “buy” rating and issued a $22.00 price target on shares of Hortonworks in a research report on Thursday, September 21st. Mizuho restated a “hold” rating and issued a $14.00 price target on shares of Hortonworks in a research report on Thursday, November 2nd. Finally, Northland Securities restated a “buy” rating and issued a $24.00 price target on shares of Hortonworks in a research report on Thursday, October 19th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $21.92.

Hortonworks (NASDAQ:HDP) traded up $0.51 during trading hours on Tuesday, reaching $21.34. 931,589 shares of the company were exchanged, compared to its average volume of 461,703. Hortonworks has a 1-year low of $8.74 and a 1-year high of $22.00. The firm has a market cap of $1,469.19, a price-to-earnings ratio of -6.33 and a beta of 1.66.

Hortonworks (NASDAQ:HDP) last posted its 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 firm had revenue of $69.00 million during the quarter, compared to analyst estimates of $63.11 million. During the same quarter in the previous year, the business posted ($0.68) earnings per share. The business’s quarterly revenue was up 45.3% compared to the same quarter last year. equities research analysts forecast that Hortonworks will post -2.98 EPS for the current fiscal year.

In related news, insider Shaun Connolly sold 13,644 shares of Hortonworks stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $16.43, for a total transaction of $224,170.92. Following the completion of the transaction, the insider now directly owns 251,685 shares of the company’s stock, valued at approximately $4,135,184.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Reasoner sold 2,364 shares of Hortonworks stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $16.43, for a total transaction of $38,840.52. Following the transaction, the insider now directly owns 249,321 shares of the company’s stock, valued at $4,096,344.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 777,406 shares of company stock worth $15,043,645. 22.50% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC lifted its holdings in Hortonworks by 37.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 25,854 shares of the software maker’s stock valued at $438,000 after purchasing an additional 7,043 shares during the last quarter. Jane Street Group LLC bought a new position in Hortonworks during the 3rd quarter valued at about $647,000. Allianz Asset Management GmbH lifted its holdings in Hortonworks by 8.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,342,579 shares of the software maker’s stock valued at $22,757,000 after purchasing an additional 102,396 shares during the last quarter. Engineers Gate Manager LP lifted its holdings in Hortonworks by 3.4% during the 3rd quarter. Engineers Gate Manager LP now owns 97,705 shares of the software maker’s stock valued at $1,656,000 after purchasing an additional 3,214 shares during the last quarter. Finally, Elk Creek Partners LLC bought a new position in Hortonworks during the 3rd quarter valued at about $3,152,000. 57.60% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Hortonworks (NASDAQ:HDP)

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