E2open Parent (NYSE:ETWO) Releases Earnings Results, Meets Estimates

E2open Parent (NYSE:ETWO) issued its quarterly earnings data on Tuesday. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02, Fidelity Earnings reports.

NYSE ETWO traded down $0.03 on Thursday, hitting $11.44. 35,483 shares of the stock traded hands, compared to its average volume of 2,622,824. E2open Parent has a twelve month low of $8.26 and a twelve month high of $14.58. The stock has a 50-day moving average of $11.46 and a 200 day moving average of $11.34. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.22.

Separately, Bank of America initiated coverage on shares of E2open Parent in a research note on Thursday, September 30th. They issued a “neutral” rating and a $14.00 price target for the company.

In other news, Director Chinh Chu bought 28,302 shares of the stock in a transaction on Wednesday, September 1st. The shares were purchased at an average price of $10.60 per share, for a total transaction of $300,001.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Elliott Investment Management sold 300,000 shares of the business’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $11.03, for a total value of $3,309,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,670,148 shares of company stock worth $19,553,674. Company insiders own 7.06% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Invesco Ltd. acquired a new position in shares of E2open Parent during the 2nd quarter worth about $203,000. Bank of America Corp DE raised its stake in E2open Parent by 91.9% in the 2nd quarter. Bank of America Corp DE now owns 23,123 shares of the company’s stock worth $264,000 after purchasing an additional 11,073 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of E2open Parent by 59.0% during the 2nd quarter. Morgan Stanley now owns 3,510,041 shares of the company’s stock valued at $40,085,000 after acquiring an additional 1,302,390 shares during the period. 95.88% of the stock is currently owned by hedge funds and other institutional investors.

E2open Parent Company Profile

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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