Todays Report: Today, Vanguard Group Inc. decides to keep it stake in NetSuite Inc. (N) to the level of $209,786,000

Today, Vanguard Group Inc. decides to keep it stake in NetSuite Inc. (N) to the level of $209,786,000

Vanguard Group Inc. raised its stake in NetSuite Inc. (NYSE:N) by 2.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,881,683 shares of the company’s stock after buying an additional 71,933 shares during the period. Vanguard Group Inc. owned about 3.56% of NetSuite worth $209,786,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of N. American Century Companies Inc. raised its stake in NetSuite by 17.0% in the second quarter. American Century Companies Inc. now owns 705,013 shares of the company’s stock worth $51,325,000 after buying an additional 102,333 shares during the last quarter. State Street Corp raised its stake in NetSuite by 3.1% in the first quarter. State Street Corp now owns 662,982 shares of the company’s stock worth $45,407,000 after buying an additional 19,668 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in NetSuite during the second quarter worth approximately $25,610,000. Geode Capital Management LLC raised its stake in NetSuite by 4.1% in the first quarter. Geode Capital Management LLC now owns 224,944 shares of the company’s stock worth $15,395,000 after buying an additional 8,927 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in NetSuite by 2.4% in the first quarter. BlackRock Group LTD now owns 152,771 shares of the company’s stock worth $10,463,000 after buying an additional 3,513 shares in the last quarter. Institutional investors and hedge funds own 54.23% of the company’s stock.

NetSuite Inc. (NYSE:N) opened at 101.90 on Monday. The stock’s market capitalization is $8.25 billion. The stock’s 50 day moving average price is $108.33 and its 200-day moving average price is $89.47. NetSuite Inc. has a 52 week low of $51.75 and a 52 week high of $110.99.

NetSuite (NYSE:N) last announced its earnings results on Thursday, July 28th. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.05. NetSuite had a negative return on equity of 31.78% and a negative net margin of 16.21%. The firm had revenue of $230.80 million for the quarter, compared to analysts’ expectations of $230.58 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. Equities research analysts expect that NetSuite Inc. will post $0.49 earnings per share for the current year.

N has been the topic of a number of research reports. Cowen and Company initiated coverage on shares of NetSuite in a research report on Thursday, June 23rd. They set an “underperform” rating and a $70.00 target price on the stock. DA Davidson downgraded shares of NetSuite from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $130.00 to $109.00 in a report on Thursday, July 28th. Deutsche Bank AG downgraded shares of NetSuite from a “buy” rating to a “hold” rating and upped their price objective for the stock from $95.00 to $109.00 in a report on Thursday, July 28th. Goldman Sachs Group Inc. upgraded shares of NetSuite from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $65.00 to $90.00 in a report on Thursday, July 28th. Finally, Morgan Stanley upgraded shares of NetSuite from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $60.00 to $109.00 in a report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, twenty-nine have issued a hold rating and four have issued a buy rating to the company. NetSuite currently has a consensus rating of “Hold” and a consensus target price of $90.82.

In other NetSuite news, insider James Mcgeever sold 36,160 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $90.00, for a total transaction of $3,254,400.00. Following the sale, the insider now directly owns 379,507 shares of the company’s stock, valued at approximately $34,155,630. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Evan Goldberg sold 20,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $109.77, for a total transaction of $2,195,400.00. Following the sale, the chairman now directly owns 190,082 shares in the company, valued at $20,865,301.14. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.

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