Trading Report: Today, APG Asset Management N.V. Sold shares of NetSuite Inc. (N)

Today, APG Asset Management N.V. Sold shares of NetSuite Inc. (N)

APG Asset Management N.V. decreased its stake in NetSuite Inc. (NYSE:N) by 60.5% during the third quarter, Holdings Channel reports. The institutional investor owned 21,737 shares of the company’s stock after selling 33,234 shares during the period. APG Asset Management N.V.’s holdings in NetSuite were worth $2,406,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position in NetSuite by 65.8% in the second quarter. BNP Paribas Arbitrage SA now owns 1,515 shares of the company’s stock worth $110,000 after buying an additional 601 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in NetSuite during the second quarter worth approximately $127,000. DekaBank Deutsche Girozentrale raised its position in NetSuite by 62.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,047 shares of the company’s stock worth $150,000 after buying an additional 787 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of NetSuite during the second quarter valued at $157,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of NetSuite during the first quarter valued at $202,000. Hedge funds and other institutional investors own 54.45% of the company’s stock.

Shares of NetSuite Inc. (NYSE:N) remained flat at $90.34 during trading on Thursday. The firm’s market cap is $7.36 billion. The stock’s 50-day moving average price is $96.27 and its 200-day moving average price is $93.61. NetSuite Inc. has a 1-year low of $51.75 and a 1-year high of $110.99.

NetSuite (NYSE:N) last issued its quarterly earnings results on Friday, October 21st. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.07. The business earned $243.90 million during the quarter, compared to the consensus estimate of $249.97 million. NetSuite had a negative net margin of 14.93% and a negative return on equity of 28.78%. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. Equities analysts anticipate that NetSuite Inc. will post $0.53 earnings per share for the current fiscal year.

N has been the topic of several analyst reports. Bank of America Corp. reaffirmed an “underperform” rating on shares of NetSuite in a report on Wednesday, October 26th. BTIG Research reaffirmed a “neutral” rating on shares of NetSuite in a report on Monday, August 22nd. Zacks Investment Research downgraded shares of NetSuite from a “hold” rating to a “sell” rating in a report on Thursday, November 3rd. BMO Capital Markets lowered their target price on shares of NetSuite from $109.00 to $101.00 and set a “market perform” rating on the stock in a report on Monday, October 24th. Finally, MKM Partners reaffirmed a “neutral” rating and issued a $109.00 target price on shares of NetSuite in a report on Friday, November 4th. Three research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $89.99.

In other NetSuite news, SVP Michael Forman sold 541 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $109.30, for a total value of $59,131.30. Following the transaction, the senior vice president now owns 23,343 shares in the company, valued at approximately $2,551,389.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Evan Goldberg sold 3,061 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $109.30, for a total transaction of $334,567.30. Following the completion of the transaction, the chairman now owns 210,082 shares in the company, valued at approximately $22,961,962.60. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.

NetSuite Company Profile

NetSuite Inc (NetSuite) is a provider of cloud-based financials, enterprise resource planning and omnichannel commerce software suites. The Company offers a suite of applications, including financial management, customer relationship management, e-commerce and retail management, commerce marketing automation, professional services automation and human capital management that enable companies to manage business operations in an integrated suite.

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