Exa Corp (EXA) Downgraded to Hold at Canaccord Genuity

Canaccord Genuity cut shares of Exa Corp (NASDAQ:EXA) from a buy rating to a hold rating in a research report released on Friday morning. Canaccord Genuity currently has $15.00 price target on the stock.

Several other equities research analysts also recently commented on the company. Zacks Investment Research raised Exa Corp from a hold rating to a strong-buy rating and set a $17.00 target price for the company in a report on Tuesday, December 6th. Needham & Company LLC upped their target price on Exa Corp from $16.50 to $17.00 and gave the company a buy rating in a report on Thursday, December 1st. Finally, Robert W. Baird reaffirmed an outperform rating and set a $18.00 target price (up from $17.00) on shares of Exa Corp in a report on Tuesday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $16.60.

Shares of Exa Corp (NASDAQ:EXA) traded down 2.10% during mid-day trading on Friday, hitting $13.51. The company’s stock had a trading volume of 71,942 shares. The company’s market cap is $200.64 million. Exa Corp has a 1-year low of $11.12 and a 1-year high of $16.89. The company has a 50-day moving average of $15.71 and a 200 day moving average of $15.34.

Exa Corp (NASDAQ:EXA) last announced its earnings results on Thursday, March 16th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.00 by $0.05. Exa Corp had a negative return on equity of 15.46% and a negative net margin of 3.87%. The business earned $19.53 million during the quarter, compared to the consensus estimate of $20.25 million. During the same period in the prior year, the business posted ($0.06) earnings per share. Exa Corp’s revenue was up 7.0% compared to the same quarter last year. On average, analysts expect that Exa Corp will post ($0.01) EPS for the current year.

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In related news, insider Hudong Chen sold 3,000 shares of the stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the sale, the insider now directly owns 119,656 shares of the company’s stock, valued at approximately $1,914,496. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP James E. Hoch sold 12,000 shares of the stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $16.00, for a total value of $192,000.00. Following the completion of the sale, the vice president now directly owns 153,694 shares of the company’s stock, valued at $2,459,104. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,000 shares of company stock valued at $286,670. Company insiders own 9.89% of the company’s stock.

Large investors have recently made changes to their positions in the company. Conestoga Capital Advisors LLC increased its stake in shares of Exa Corp by 4.2% in the third quarter. Conestoga Capital Advisors LLC now owns 1,371,202 shares of the company’s stock valued at $22,008,000 after buying an additional 55,759 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Exa Corp by 867.8% in the third quarter. Acadian Asset Management LLC now owns 45,457 shares of the company’s stock valued at $730,000 after buying an additional 40,760 shares in the last quarter. Strs Ohio acquired a new stake in shares of Exa Corp during the third quarter valued at about $229,000. Wasatch Advisors Inc. increased its stake in shares of Exa Corp by 3.8% in the third quarter. Wasatch Advisors Inc. now owns 406,023 shares of the company’s stock valued at $6,517,000 after buying an additional 14,758 shares in the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of Exa Corp during the third quarter valued at about $894,000. 78.25% of the stock is owned by hedge funds and other institutional investors.

About Exa Corp

Exa Corporation develops, sells and supports simulation software and services that manufacturers use in design and engineering processes. The Company focuses primarily on the ground transportation market, including manufacturers in the passenger vehicle, highway truck, off-highway vehicle and train markets, as well as their suppliers.

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