Jump Financial LLC Cuts Holdings in Itron, Inc. (NASDAQ:ITRI)

Jump Financial LLC reduced its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 92.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,036 shares of the scientific and technical instruments company's stock after selling 25,580 shares during the quarter. Jump Financial LLC's holdings in Itron were worth $221,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ITRI. Hager Investment Management Services LLC purchased a new position in Itron in the fourth quarter valued at $67,000. Contravisory Investment Management Inc. boosted its position in Itron by 154.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock worth $94,000 after purchasing an additional 525 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after purchasing an additional 688 shares during the period. GAMMA Investing LLC increased its position in shares of Itron by 15.6% in the fourth quarter. GAMMA Investing LLC now owns 1,177 shares of the scientific and technical instruments company's stock valued at $128,000 after buying an additional 159 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Itron by 43.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,820 shares of the scientific and technical instruments company's stock worth $198,000 after buying an additional 548 shares during the period. Hedge funds and other institutional investors own 96.19% of the company's stock.

Insiders Place Their Bets

In related news, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the sale, the chief financial officer now directly owns 92,076 shares in the company, valued at $8,553,860.40. This trade represents a 2.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the sale, the senior vice president now owns 20,326 shares in the company, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is owned by corporate insiders.

Itron Stock Up 0.4 %

Shares of ITRI traded up $0.41 during midday trading on Wednesday, reaching $111.29. The stock had a trading volume of 755,521 shares, compared to its average volume of 574,391. The company's fifty day simple moving average is $103.59 and its two-hundred day simple moving average is $107.47. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 0.81 and a beta of 1.39. Itron, Inc. has a 1-year low of $90.03 and a 1-year high of $124.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ITRI shares. StockNews.com cut shares of Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Canaccord Genuity Group lifted their price objective on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Piper Sandler increased their target price on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Oppenheimer boosted their price target on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $133.00 price target on shares of Itron in a research note on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $127.64.

Itron Profile

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.