D. E. Shaw & Co. Inc. Cuts Holdings in Cray Inc. (NASDAQ:CRAY)

D. E. Shaw & Co. Inc. cut its stake in shares of Cray Inc. (NASDAQ:CRAY) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 220,412 shares of the technology company’s stock after selling 55,209 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.54% of Cray worth $4,759,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Cray by 5.1% in the third quarter. BlackRock Inc. now owns 5,800,460 shares of the technology company’s stock valued at $124,710,000 after buying an additional 279,746 shares during the last quarter. PEAK6 Investments LLC raised its holdings in shares of Cray by 46.0% in the fourth quarter. PEAK6 Investments LLC now owns 16,735 shares of the technology company’s stock valued at $361,000 after buying an additional 5,270 shares during the last quarter. Arizona State Retirement System increased its position in Cray by 6.2% in the fourth quarter. Arizona State Retirement System now owns 62,889 shares of the technology company’s stock worth $1,358,000 after purchasing an additional 3,664 shares during the period. Texas Permanent School Fund increased its position in Cray by 4.0% in the fourth quarter. Texas Permanent School Fund now owns 26,723 shares of the technology company’s stock worth $577,000 after purchasing an additional 1,034 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Cray by 19.2% in the third quarter. The Manufacturers Life Insurance Company now owns 436,867 shares of the technology company’s stock worth $9,393,000 after purchasing an additional 70,271 shares during the period. 98.92% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on CRAY shares. BidaskClub upgraded Cray from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. ValuEngine lowered Cray from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. TheStreet upgraded Cray from a “d+” rating to a “c-” rating in a research report on Thursday, March 14th. Zacks Investment Research upgraded Cray from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Finally, KeyCorp lowered their price objective on Cray from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, February 13th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $32.50.

In other news, SVP Michael Charles Piraino sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $22.20, for a total transaction of $555,000.00. Following the completion of the transaction, the senior vice president now directly owns 63,230 shares in the company, valued at approximately $1,403,706. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter J. Ungaro sold 86,971 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $22.61, for a total value of $1,966,414.31. Following the transaction, the chief executive officer now owns 322,647 shares of the company’s stock, valued at $7,295,048.67. The disclosure for this sale can be found here. Insiders have sold a total of 175,000 shares of company stock valued at $3,932,634 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

CRAY stock traded down $0.32 during midday trading on Friday, reaching $27.26. The stock had a trading volume of 332,641 shares, compared to its average volume of 362,948. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -19.20 and a beta of 1.36. Cray Inc. has a twelve month low of $18.76 and a twelve month high of $28.60.

Cray (NASDAQ:CRAY) last posted its earnings results on Tuesday, February 12th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.15). The company had revenue of $163.00 million for the quarter, compared to analyst estimates of $157.90 million. Cray had a negative return on equity of 15.97% and a negative net margin of 15.72%. Cray’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. On average, analysts expect that Cray Inc. will post -1.33 EPS for the current year.

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Cray Company Profile

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing products for high-performance computing, data analytics, and AI markets. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

Further Reading: Growth Stocks

Institutional Ownership by Quarter for Cray (NASDAQ:CRAY)

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