Gagnon Advisors LLC Purchases 1,171,117 Shares of E2open Parent Holdings, Inc. (NYSE:ETWO)

Key Points

• Gagnon Advisors LLC significantly increased its stake in E2open Parent Holdings, acquiring an additional 1,171,117 shares, bringing its total to 2,342,234 shares, which makes up 3.3% of its portfolio.
• Several institutional investors are actively investing in E2open Parent, with notable new stakes from Bayesian Capital Management, Tidal Investments, and Teacher Retirement System of Texas during the recent quarters.
• Analysts have mixed views on E2open Parent, with price targets ranging from $2.50 to $3.30, reflecting a generally cautious sentiment with an average rating of "Hold".

Gagnon Advisors LLC grew its holdings in E2open Parent Holdings, Inc. (NYSE:ETWO - Free Report) by 100.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,342,234 shares of the company's stock after acquiring an additional 1,171,117 shares during the period. E2open Parent comprises 3.3% of Gagnon Advisors LLC's holdings, making the stock its 15th biggest position. Gagnon Advisors LLC owned about 0.68% of E2open Parent worth $4,684,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in E2open Parent by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 27,397,737 shares of the company's stock worth $72,878,000 after acquiring an additional 408,779 shares during the period. Nomura Holdings Inc. raised its position in E2open Parent by 15.7% during the fourth quarter. Nomura Holdings Inc. now owns 14,725,233 shares of the company's stock worth $39,169,000 after acquiring an additional 1,994,267 shares during the period. Dimensional Fund Advisors LP raised its position in E2open Parent by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,914,203 shares of the company's stock worth $21,050,000 after acquiring an additional 505,463 shares during the period. Gagnon Securities LLC raised its position in shares of E2open Parent by 75.0% in the first quarter. Gagnon Securities LLC now owns 3,820,311 shares of the company's stock valued at $7,641,000 after buying an additional 1,637,418 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of E2open Parent in the fourth quarter valued at about $6,151,000.

E2open Parent Stock Performance

NYSE:ETWO traded up $0.00 during midday trading on Tuesday, reaching $3.30. The stock had a trading volume of 26,635,229 shares, compared to its average volume of 4,560,442. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.14 billion, a P/E ratio of -1.60 and a beta of 1.27. The firm has a fifty day simple moving average of $3.26 and a two-hundred day simple moving average of $2.69. E2open Parent Holdings, Inc. has a 12-month low of $1.75 and a 12-month high of $4.63.

E2open Parent (NYSE:ETWO - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. The firm had revenue of $152.30 million for the quarter, compared to analysts' expectations of $148.92 million. E2open Parent had a negative net margin of 104.26% and a positive return on equity of 6.34%. During the same period in the prior year, the company earned $0.04 EPS. On average, equities analysts expect that E2open Parent Holdings, Inc. will post 0.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ETWO shares. Morgan Stanley increased their target price on shares of E2open Parent from $2.10 to $3.30 and gave the company an "equal weight" rating in a research report on Wednesday, May 28th. UBS Group dropped their price objective on shares of E2open Parent from $3.00 to $2.50 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of E2open Parent from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $2.78.

Insider Transactions at E2open Parent

In other E2open Parent news, major shareholder Neuberger Berman Group Llc sold 30,607,831 shares of E2open Parent stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $3.21, for a total value of $98,251,137.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.63% of the stock is owned by company insiders.

E2open Parent Company Profile

E2open Parent Holdings, Inc provides cloud-based and end-to-end supply chain management and orchestration SaaS platform in the Americas, Europe, and the Asia Pacific. Its SaaS platform includes various key strategic and operational areas, including omni-channel, demand sensing, supply planning, global trade management, transportation and logistics and manufacturing and supply management.