8,738 Shares in HP Inc. (NYSE:HPQ) Acquired by Dark Forest Capital Management LP

Dark Forest Capital Management LP bought a new stake in HP Inc. (NYSE:HPQ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,738 shares of the computer maker’s stock, valued at approximately $306,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after acquiring an additional 3,062,441 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after purchasing an additional 1,319,731 shares in the last quarter. LSV Asset Management increased its position in shares of HP by 3.3% during the 1st quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock valued at $383,028,000 after purchasing an additional 403,355 shares during the last quarter. Northern Trust Corp raised its holdings in shares of HP by 0.4% during the 4th quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock valued at $306,089,000 after buying an additional 40,884 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in HP by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock worth $294,253,000 after buying an additional 287,861 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HPQ. JPMorgan Chase & Co. lifted their price target on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday. Barclays cut their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Loop Capital decreased their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, UBS Group increased their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, HP currently has an average rating of “Hold” and an average target price of $35.55.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is currently owned by corporate insiders.

HP Trading Down 3.9 %

Shares of HP stock opened at $35.41 on Monday. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The company has a market cap of $34.65 billion, a P/E ratio of 11.96, a PEG ratio of 2.35 and a beta of 1.07. The company’s fifty day simple moving average is $34.97 and its two-hundred day simple moving average is $33.24.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. HP’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 earnings per share. Analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

HP Company Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.