Gagnon Securities Lowers stake in NetSuite Inc (N)

NetSuite Inc (N) : Gagnon Securities reduced its stake in NetSuite Inc by 3.96% during the most recent quarter end. The investment management company now holds a total of 74,409 shares of NetSuite Inc which is valued at $8,080,817 after selling 3,070 shares in NetSuite Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.NetSuite Inc makes up approximately 3.57% of Gagnon Securities’s portfolio.

Other Hedge Funds, Including , Blackrock Group Ltd boosted its stake in N in the latest quarter, The investment management firm added 7,372 additional shares and now holds a total of 160,143 shares of NetSuite Inc which is valued at $17,391,530. NetSuite Inc makes up approx 0.01% of Blackrock Group Ltd’s portfolio.Bb&t Securities boosted its stake in N in the latest quarter, The investment management firm added 264 additional shares and now holds a total of 9,451 shares of NetSuite Inc which is valued at $1,026,757. NetSuite Inc makes up approx 0.02% of Bb&t Securities’s portfolio.Mizuho Trust Banking Ltd. boosted its stake in N in the latest quarter, The investment management firm added 281 additional shares and now holds a total of 60,405 shares of NetSuite Inc which is valued at $6,555,755. NetSuite Inc makes up approx 0.02% of Mizuho Trust Banking Ltd.’s portfolio.

NetSuite Inc closed down -0.1 points or -0.09% at $108.74 with 3,69,390 shares getting traded on Friday. Post opening the session at $108.78, the shares hit an intraday low of $108.74 and an intraday high of $108.89 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, NetSuite Inc reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.03. The company had revenue of $230.77 million for the quarter, compared to analysts expectations of $230.53 million. The company’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Many Wall Street Analysts have commented on NetSuite Inc. NetSuite Inc was Downgraded by SunTrust to ” Neutral” on Aug 12, 2016. Company shares were Downgraded by MKM Partners on Aug 2, 2016 to ” Neutral”, Firm has raised the Price Target to $ 109 from a previous price target of $92 .NetSuite Inc was Upgraded by Goldman to ” Neutral” on Jul 29, 2016.

NetSuite Inc. (NetSuite) is a provider of cloud-based financials enterprise resource planning (ERP) and omnichannel commerce software suites. The Company’s offerings include NetSuite NetSuite OneWorld NetSuite CRM+ NetSuite OpenAir PSA SuiteCommerce NetSuite POS TribeHR LightCMS Add-On Modules NetSuite Industry Editions and SuiteCloud Platform. Its main offering is NetSuite which provides core business management capabilities. NetSuite OneWorld and NetSuite CRM+ are designed for use by most types of businesses. NetSuite OpenAir (OpenAir) PSA is for professional services businesses. SuiteCommerce enables businesses to move from standalone transactional channels to an integrated commerce solution. NetSuite POS is a point-of-sale solution. TribeHR is a HCM solution. LightCMS is a Web-based software platform. SuiteCloud is the Company’s technology platform. It delivers its applications over the Internet as a subscription service using the software-as-a-service (SaaS) model.

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