Investors Buy Large Volume of Hortonworks Put Options (HDP)

Hortonworks Inc (NASDAQ:HDP) saw unusually large options trading activity on Thursday. Stock traders purchased 750 put options on the stock. This is an increase of 1,315% compared to the typical daily volume of 53 put options.

Shares of NASDAQ:HDP opened at $19.02 on Friday. The firm has a market capitalization of $1.55 billion, a P/E ratio of -6.22 and a beta of 1.43. Hortonworks has a 12-month low of $12.09 and a 12-month high of $22.00.

Hortonworks (NASDAQ:HDP) last announced its earnings results on Tuesday, May 8th. The software maker reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.07. The firm had revenue of $79.06 million during the quarter, compared to analyst estimates of $75.26 million. During the same quarter last year, the business earned ($0.50) earnings per share. Hortonworks’s revenue was up 41.3% on a year-over-year basis. analysts expect that Hortonworks will post -2.14 EPS for the current year.

A number of research analysts have weighed in on HDP shares. BidaskClub raised shares of Hortonworks from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. DA Davidson started coverage on shares of Hortonworks in a research note on Friday, March 9th. They set a “buy” rating and a $24.00 price objective on the stock. Credit Suisse Group reiterated a “neutral” rating and set a $24.00 price objective (up previously from $23.00) on shares of Hortonworks in a research note on Friday, March 9th. Zacks Investment Research upgraded shares of Hortonworks from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, April 11th. Finally, Monness Crespi & Hardt started coverage on shares of Hortonworks in a research note on Wednesday, April 11th. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Hortonworks has a consensus rating of “Buy” and a consensus target price of $22.87.

In related news, CEO Robert G. Bearden sold 113,947 shares of the firm’s stock in a transaction that occurred on Wednesday, April 11th. The shares were sold at an average price of $17.92, for a total value of $2,041,930.24. Following the sale, the chief executive officer now directly owns 1,773,730 shares of the company’s stock, valued at $31,785,241.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott Reasoner sold 2,851 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $17.41, for a total transaction of $49,635.91. Following the completion of the sale, the insider now directly owns 233,181 shares in the company, valued at $4,059,681.21. The disclosure for this sale can be found here. Insiders have sold a total of 729,026 shares of company stock worth $13,122,500 over the last ninety days. 15.60% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of HDP. Teacher Retirement System of Texas acquired a new stake in shares of Hortonworks during the fourth quarter worth $327,000. California Public Employees Retirement System acquired a new stake in shares of Hortonworks during the fourth quarter worth $417,000. Swiss National Bank lifted its stake in shares of Hortonworks by 12.2% during the fourth quarter. Swiss National Bank now owns 80,000 shares of the software maker’s stock worth $1,609,000 after buying an additional 8,700 shares during the period. First Trust Advisors LP purchased a new position in shares of Hortonworks during the fourth quarter worth $3,395,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Hortonworks by 53.8% during the fourth quarter. Wells Fargo & Company MN now owns 76,141 shares of the software maker’s stock worth $1,531,000 after purchasing an additional 26,626 shares during the last quarter. Institutional investors and hedge funds own 66.56% of the company’s stock.

Hortonworks Company Profile

Hortonworks, Inc provides data management platforms, services, and solutions in North America, the Asia Pacific, Europe, and Latin America. It offers Hortonworks Data Platform (HDP), an enterprise-scale data management platform which provides a platform for multi-workload data processing; Hortonworks DataFlow, a data-in-motion platform to automate and secure Internet of anything data flows, as well as to collect, conduct, and curate real-time business insights and actions derived from data in motion, including sensors, machines, geolocation devices, clicks, server logs, and social feeds; and Hortonworks DataPlane Service simplifies managing, securing, governing, provisioning, and consuming distributed data systems.

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