Gilder Gagnon Howe & Co. LLC reduced its position in shares of Cray Inc. (NASDAQ:CRAY) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,655,887 shares of the company’s stock after selling 60,558 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Cray were worth $49,544,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. increased its position in Cray by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,000,267 shares of the company’s stock worth $41,921,000 after buying an additional 5,584 shares during the period. Aperio Group LLC acquired a new position in Cray during the first quarter worth $252,000. Texas Permanent School Fund acquired a new position in Cray during the first quarter worth $1,363,000. Meeder Asset Management Inc. increased its position in Cray by 608.7% in the first quarter. Meeder Asset Management Inc. now owns 7,101 shares of the company’s stock worth $298,000 after buying an additional 6,099 shares during the period. Finally, Bank of Montreal Can acquired a new position in Cray during the second quarter worth $202,000. 92.51% of the stock is owned by institutional investors and hedge funds.
Shares of Cray Inc. (NASDAQ:CRAY) traded up 0.75% on Wednesday, hitting $21.49. 153,301 shares of the stock were exchanged. The stock’s 50-day moving average is $22.86 and its 200-day moving average is $29.49. The stock has a market cap of $855.54 million, a price-to-earnings ratio of 68.22 and a beta of 1.39. Cray Inc. has a 1-year low of $20.61 and a 1-year high of $43.79.
Cray (NASDAQ:CRAY) last released its earnings results on Tuesday, August 2nd. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.06. Cray had a net margin of 1.96% and a return on equity of 5.72%. The company had revenue of $100.20 million for the quarter, compared to analyst estimates of $101.36 million. During the same quarter in the previous year, the firm earned $0.30 EPS. The firm’s revenue was down 46.2% on a year-over-year basis. Analysts forecast that Cray Inc. will post $0.45 earnings per share for the current year.
A number of research analysts recently weighed in on CRAY shares. Zacks Investment Research raised shares of Cray from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. KeyCorp decreased their target price on shares of Cray from $41.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, August 3rd. Stifel Nicolaus decreased their target price on shares of Cray from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Finally, Pacific Crest started coverage on shares of Cray in a research report on Thursday, July 28th. They issued an “overweight” rating and a $41.00 target price for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $39.43.
In related news, SVP Michael Charles Piraino sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $21.97, for a total transaction of $329,550.00. Following the transaction, the senior vice president now owns 63,937 shares in the company, valued at approximately $1,404,695.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.00% of the company’s stock.
Cray Company Profile
Cray Inc designs, develops, manufactures, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Company provides software, system maintenance, support services and engineering services related to supercomputer systems.
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