Hortonworks, Inc. (NASDAQ:HDP) Cut to “Hold” at Zacks Investment Research

Hortonworks, Inc. (NASDAQ:HDP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, July 21st.

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. “

Several other research firms also recently commented on HDP. Mizuho reiterated a “buy” rating and issued a $13.00 price target on shares of Hortonworks in a research report on Monday, April 24th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Hortonworks in a research report on Thursday, May 4th. Drexel Hamilton restated a “buy” rating and set a $21.00 price objective on shares of Hortonworks in a research report on Friday, May 5th. Sanford C. Bernstein assumed coverage on shares of Hortonworks in a research report on Wednesday, May 24th. They set an “outperform” rating and a $21.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of Hortonworks in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $17.54.

Shares of Hortonworks (NASDAQ HDP) traded down 0.81% on Friday, hitting $14.78. The stock had a trading volume of 1,253,865 shares. Hortonworks has a 12 month low of $6.42 and a 12 month high of $15.18. The company has a 50 day moving average price of $13.23 and a 200-day moving average price of $11.32. The stock’s market cap is $611.40 million.

Hortonworks (NASDAQ:HDP) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.87) earnings per share for the quarter, hitting the consensus estimate of ($0.87). The business had revenue of $61.83 million during the quarter, compared to the consensus estimate of $57.62 million. Hortonworks had a negative net margin of 107.07% and a negative return on equity of 1,685.64%. The company’s revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.72) EPS. On average, equities research analysts anticipate that Hortonworks will post ($1.73) earnings per share for the current year.

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In other Hortonworks news, insider Greg Pavlik sold 5,532 shares of Hortonworks stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $13.35, for a total value of $73,852.20. Following the completion of the transaction, the insider now owns 263,584 shares of the company’s stock, valued at $3,518,846.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Scott Davidson sold 42,061 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $12.51, for a total value of $526,183.11. Following the completion of the sale, the chief financial officer now owns 668,651 shares in the company, valued at $8,364,824.01. The disclosure for this sale can be found here. Insiders sold 452,222 shares of company stock worth $5,796,759 in the last 90 days. 26.00% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of HDP. Oppenheimer Asset Management Inc. bought a new stake in shares of Hortonworks during the first quarter worth $117,000. Russell Investments Group Ltd. boosted its stake in shares of Hortonworks by 21.2% in the first quarter. Russell Investments Group Ltd. now owns 577,824 shares of the software maker’s stock valued at $5,668,000 after buying an additional 100,953 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of Hortonworks during the first quarter valued at approximately $198,000. Wells Fargo & Company MN boosted its stake in shares of Hortonworks by 73.9% in the first quarter. Wells Fargo & Company MN now owns 48,421 shares of the software maker’s stock valued at $475,000 after buying an additional 20,577 shares during the period. Finally, NJ State Employees Deferred Compensation Plan bought a new position in shares of Hortonworks during the first quarter worth $294,000. Institutional investors and hedge funds own 50.19% of the company’s stock.

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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