SAP SE $SAP Shares Sold by Jennison Associates LLC

Key Points

• Jennison Associates LLC cut its SAP position by 68.3% in the first quarter, selling 104,033 shares and ending with 48,323 shares worth about $8.27 million.
• Several other institutional investors also adjusted their SAP holdings, with most changes being relatively small increases in share counts.
• Analyst sentiment remains mixed but generally positive: SAP has a Moderate Buy consensus rating with an average price target of $270.83, even as some firms recently downgraded the stock.

Jennison Associates LLC trimmed its position in SAP SE (NYSE:SAP - Free Report) by 68.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,323 shares of the software maker's stock after selling 104,033 shares during the quarter. Jennison Associates LLC's holdings in SAP were worth $8,273,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SAP. Binnacle Investments Inc increased its holdings in SAP by 14.2% in the third quarter. Binnacle Investments Inc now owns 338 shares of the software maker's stock valued at $90,000 after buying an additional 42 shares during the last quarter. Spire Wealth Management lifted its holdings in SAP by 6.2% during the 4th quarter. Spire Wealth Management now owns 740 shares of the software maker's stock worth $180,000 after buying an additional 43 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of SAP by 1.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 4,495 shares of the software maker's stock worth $1,355,000 after acquiring an additional 43 shares in the last quarter. Euro Pacific Asset Management LLC boosted its position in shares of SAP by 5.7% during the 4th quarter. Euro Pacific Asset Management LLC now owns 870 shares of the software maker's stock worth $213,000 after acquiring an additional 47 shares in the last quarter. Finally, Modera Wealth Management LLC increased its holdings in shares of SAP by 1.2% in the 4th quarter. Modera Wealth Management LLC now owns 3,912 shares of the software maker's stock valued at $950,000 after acquiring an additional 48 shares during the last quarter.

Analyst Ratings Changes

SAP has been the topic of several research analyst reports. Wall Street Zen lowered SAP from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Piper Sandler downgraded SAP from an "overweight" rating to a "neutral" rating in a report on Tuesday, April 14th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of SAP in a research note on Tuesday, March 24th. Weiss Ratings cut shares of SAP from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, July 16th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $265.00 price objective on shares of SAP in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, SAP currently has an average rating of "Moderate Buy" and a consensus price target of $270.83.

SAP Stock Down 2.4%

SAP stock opened at $154.54 on Wednesday. SAP SE has a fifty-two week low of $148.06 and a fifty-two week high of $307.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $189.86 billion, a P/E ratio of 20.88, a PEG ratio of 1.82 and a beta of 1.14. The stock has a 50-day simple moving average of $166.38 and a 200-day simple moving average of $185.91.

SAP (NYSE:SAP - Get Free Report) last released its quarterly earnings results on Friday, February 27th. The software maker reported $1.99 earnings per share (EPS) for the quarter. The firm had revenue of $11.06 billion for the quarter. SAP had a return on equity of 17.31% and a net margin of 20.08%. Equities research analysts expect that SAP SE will post 8.3 earnings per share for the current year.

About SAP

SAP SE is a global enterprise software company headquartered in Walldorf, Germany. Founded in 1972 by five former IBM engineers, the company's name is an acronym for Systeme, Anwendungen und Produkte in der Datenverarbeitung (Systems, Applications & Products in Data Processing). SAP develops and sells software and services that help organizations manage business processes across finance, human resources, procurement, manufacturing, supply chain and customer relationships.

SAP's product portfolio spans on‑premises and cloud offerings, anchored by its enterprise resource planning (ERP) solutions such as SAP S/4HANA and the SAP HANA in‑memory database and platform.

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