Lighthouse Investment Partners LLC Lowers Position in Aspen Technology, Inc. (NASDAQ:AZPN)

Lighthouse Investment Partners LLC decreased its stake in shares of Aspen Technology, Inc. (NASDAQ:AZPN) by 83.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,774 shares of the technology company’s stock after selling 9,226 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Aspen Technology were worth $443,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. K2 Principal Fund L.P. purchased a new stake in Aspen Technology in the 4th quarter worth $250,000. Hudson Bay Capital Management LP bought a new stake in shares of Aspen Technology in the fourth quarter worth about $19,501,000. Governors Lane LP purchased a new stake in shares of Aspen Technology in the fourth quarter worth about $33,725,000. Focus Partners Wealth bought a new position in Aspen Technology during the fourth quarter valued at approximately $250,000. Finally, FORA Capital LLC bought a new position in Aspen Technology during the fourth quarter valued at approximately $1,816,000. 45.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AZPN shares. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. StockNews.com began coverage on shares of Aspen Technology in a research note on Friday, May 9th. They set a “hold” rating on the stock. Robert W. Baird reissued a “neutral” rating and issued a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Finally, Piper Sandler boosted their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $272.00.

Aspen Technology Stock Performance

NASDAQ:AZPN opened at $264.33 on Thursday. The firm has a market capitalization of $16.73 billion, a PE ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73. The stock’s fifty day moving average is $264.34 and its 200 day moving average is $257.45. Aspen Technology, Inc. has a fifty-two week low of $171.25 and a fifty-two week high of $277.37.

About Aspen Technology

Aspen Technology, Inc provides industrial software that focuses on helping customers in asset-intensive industries worldwide. The company’s solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. Its software is used in performance engineering, modeling and design, supply chain management, predictive and prescriptive maintenance, digital grid management, and industrial data management.