What’s in NetSuite Inc After Today’s Bearish Options Activity?

 What's in NetSuite Inc After Today's Bearish Options Activity?

In today’s session NetSuite Inc (N) recorded an unusually high (353) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious N decrease. With 353 contracts traded and 2164 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: N161021P00085000 closed last at: $0.25 or 0% . The stock decreased 0.56% or $0.61 during the last trading session, hitting $109.3. About 729,516 shares traded hands or 25.87% up from the average. NetSuite Inc (NYSE:N) has risen 77.06% since March 2, 2016 and is uptrending. It has outperformed by 67.82% the S&P500.

Analysts await NetSuite Inc (NYSE:N) to report earnings on October, 27. They expect $-0.30 EPS, up 9.09% or $0.03 from last year’s $-0.33 per share. After $-0.35 actual EPS reported by NetSuite Inc for the previous quarter, Wall Street now forecasts -14.29% EPS growth.

NetSuite Inc (NYSE:N) Ratings Coverage

Out of 25 analysts covering NetSuite (NYSE:N), 4 rate it a “Buy”, 2 “Sell”, while 19 “Hold”. This means 16% are positive. NetSuite has been the topic of 49 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The rating was initiated by Mitsubishi on Tuesday, April 12 with “Buy”. M Partners maintained the shares of N in a report on Tuesday, January 19 with “Buy” rating. Benchmark maintained it with “Hold” rating and $95 target price in Friday, October 23 report. Goldman Sachs upgraded it to “Neutral” rating and $90 target price in Friday, July 29 report. The firm earned “Buy” rating on Friday, January 29 by Canaccord Genuity. Macquarie Research initiated NetSuite Inc (NYSE:N) on Tuesday, April 26 with “Neutral” rating. The stock of NetSuite Inc (NYSE:N) earned “Neutral” rating by BTIG Research on Thursday, September 10. The firm earned “Neutral” rating on Friday, October 23 by Mizuho. BMO Capital Markets initiated NetSuite Inc (NYSE:N) on Wednesday, June 15 with “Market Perform” rating. The firm earned “Mkt Perform” rating on Friday, July 29 by Raymond James.

Insitutional Activity: The institutional sentiment increased to 1.66 in Q2 2016. Its up 0.15, from 1.51 in 2016Q1. The ratio is positive, as 18 funds sold all NetSuite Inc shares owned while 52 reduced positions. 40 funds bought stakes while 76 increased positions. They now own 43.78 million shares or 7.04% less from 47.10 million shares in 2016Q1.
Janus Cap Management Limited Liability Company has 2.57 million shares for 0.16% of their US portfolio. Gagnon Securities Limited Liability Com has invested 2.59% of its portfolio in NetSuite Inc (NYSE:N). Alpha Windward Limited Liability owns 5,282 shares or 0.28% of their US portfolio. Voya Investment Mgmt Lc accumulated 0% or 17,265 shares. Pictet Asset Mngmt Limited holds 13,800 shares or 0% of its portfolio. Moreover, Schwab Charles has 0.01% invested in NetSuite Inc (NYSE:N) for 88,625 shares. Wolverine Asset Management Llc accumulated 0% or 1,300 shares. Janney Montgomery Scott Ltd Liability accumulated 0.01% or 5,520 shares. National Bank & Trust Of New York Mellon Corporation has invested 0% of its portfolio in NetSuite Inc (NYSE:N). Raymond James Assoc owns 4,312 shares or 0% of their US portfolio. Stevens Cap Management Limited Partnership holds 0.14% of its portfolio in NetSuite Inc (NYSE:N) for 47,641 shares. Ameriprise Financial Incorporated has 0% invested in the company for 19,790 shares. Moreover, Teachers Advsr Inc has 0% invested in NetSuite Inc (NYSE:N) for 32,394 shares. Mirae Asset Glob Invs Company has 0.02% invested in the company for 10,080 shares. Federated Inc Pa holds 0.07% of its portfolio in NetSuite Inc (NYSE:N) for 327,900 shares.

NetSuite Inc. is a provider of cloud financials, enterprise resource planning and omnichannel commerce software suites. The company has a market cap of $8.78 billion. The Firm offers a suite of applications, including financial management, customer relationship management, e-commerce and retail management, commerce marketing automation, professional services automation and human capital management that enable companies to manage business in an integrated suite. It currently has negative earnings. The Firm also offers customer support and professional services related to the support and implementation of its suite of applications.

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