E2open Parent (NYSE:ETWO) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of E2open Parent (NYSE:ETWOGet Rating) from a hold rating to a sell rating in a research report report published on Monday, Zacks.com reports.

According to Zacks, “E2open Parent Holdings Inc. is a provider of supply chain management software. The Company’s software combines networks, data and applications to provide platform which allows customers to optimize their supply chain across channel shaping, business planning, logistics, global trade, manufacturing and supply management. E2open Parent Holdings Inc., formerly known as CC Neuberger Principal Holdings I, is based in AUSTIN, Texas. “

A number of other equities research analysts also recently issued reports on the company. Colliers Securities raised E2open Parent from a neutral rating to a buy rating and set a $13.00 price target on the stock in a research report on Wednesday, March 23rd. Craig Hallum started coverage on E2open Parent in a research report on Tuesday, January 25th. They set a buy rating and a $14.00 price target on the stock. Loop Capital reduced their price target on E2open Parent from $16.00 to $12.00 in a research report on Thursday, April 28th. Finally, Bank of America raised E2open Parent from a neutral rating to a buy rating in a research report on Thursday, April 21st.

Shares of NYSE ETWO opened at $7.84 on Monday. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -9.01, a P/E/G ratio of 0.96 and a beta of 0.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.69 and a current ratio of 0.81. E2open Parent has a 1-year low of $7.16 and a 1-year high of $14.58. The business’s 50 day moving average price is $8.53.

In other E2open Parent news, CEO Michael Farlekas bought 12,775 shares of E2open Parent stock in a transaction on Monday, May 2nd. The shares were purchased at an average price of $8.18 per share, with a total value of $104,499.50. Following the acquisition, the chief executive officer now owns 266,306 shares in the company, valued at approximately $2,178,383.08. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jarett Janik bought 5,000 shares of E2open Parent stock in a transaction on Tuesday, May 3rd. The stock was acquired at an average cost of $8.33 per share, for a total transaction of $41,650.00. Following the acquisition, the chief financial officer now owns 83,270 shares in the company, valued at approximately $693,639.10. The disclosure for this purchase can be found here. Company insiders own 7.06% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Temasek Holdings Private Ltd bought a new position in shares of E2open Parent in the 3rd quarter valued at $330,504,000. The Manufacturers Life Insurance Company lifted its stake in shares of E2open Parent by 3.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,097,635 shares of the company’s stock valued at $23,703,000 after acquiring an additional 78,849 shares during the last quarter. Capital Fund Management S.A. bought a new position in shares of E2open Parent in the 3rd quarter valued at $201,000. UBS Asset Management Americas Inc. lifted its stake in shares of E2open Parent by 11.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 63,062 shares of the company’s stock valued at $713,000 after acquiring an additional 6,452 shares during the last quarter. Finally, Credit Suisse AG lifted its stake in shares of E2open Parent by 10.8% in the 3rd quarter. Credit Suisse AG now owns 4,710,884 shares of the company’s stock valued at $53,232,000 after acquiring an additional 459,769 shares during the last quarter. Institutional investors own 98.09% of the company’s stock.

About E2open Parent (Get Rating)

E2open Parent Holdings, Inc provides cloud-based and end-to-end supply chain management SaaS platform in the Americas, Europe, and the Asia Pacific. The company's software solutions orchestrate supply chains and realize value and return on investment for its blue-chip customers. Its software combines networks, data, and applications to provide a platform that allows customers to optimize their supply chain across channel shaping, demand sensing, business planning, global trade management, transportation and logistics, collaborative manufacturing, and supply management.

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