Primecap Management Reduces $98M in Hewlett Packard Enterprise Company ($HPE)
Key Points
- Primecap Management changed its Hewlett Packard Enterprise Company ($HPE) stake by 10.3% last quarter, cutting to 17,229,080 shares worth $846.98 million.
- Wall Street's consensus rating on $HPE is Buy and an average price target of $64.13.
- $HPE last traded around $49.16.
Primecap Management reduced its position in Hewlett Packard Enterprise Company ($HPE) by 10.3% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,229,080 shares of Hewlett Packard Enterprise Company after selling 1,983,637 shares during the quarter. Primecap Management's holdings in Hewlett Packard Enterprise Company were worth $846.98 million as of its most recent filing.
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About Hewlett Packard Enterprise Company
Hewlett Packard Enterprise Company, together with its subsidiaries, develops intelligent solutions in the United States, the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and internationally. It operates in five segments: Server, Hybrid Cloud, Networking, Financial Services, and Corporate Investments and Other. The company offers general-purpose servers, workload-optimized servers, and integrated systems, including HPE ProLiant Rack and Tower servers; HPE Synergy; HPE Scale Up servers; HPE Edgeline servers; HPE Cray EX; HPE Cray XD; and HPE NonStop. It also provides cloud-native and hybrid solutions, such as HPE Alletra Storage; HPE InfoSight; HPE CloudPhysics; and HPE GreenLake. In addition, the company develops and sells networking and security products and services comprising hardware products, which include Wi-Fi and private cellular access points, MX and PTX routers, and gateways, as well as QFX, EX, and CX switches; software products, such as Mist and Aruba Central; and services comprising professional, maintenance, support services, management software, and education and training programs. Further, it offers investment solutions, including leasing, financing, IT consumption, utility programs, and asset management services, as well as supports financial solutions for on-premise flexible consumption models. The company serves commercial and large enterprise groups, as well as business and public sector enterprises. It sells its products through resellers, distribution partners, master area partners, original equipment manufacturers, independent software vendors, systems integrators, and advisory firms. The company was founded in 1939 and is headquartered in Spring, Texas.
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