Activist investor Elliott Investment Management, which has accumulated a stake valued at over $1.5 billion in Hewlett Packard Enterprise, plans to seek the ouster of Chief Executive Antonio Neri, according to a report on Thursday. HPE stock climbed on the news.
HPE's board is expected to meet soon to discuss replacing Neri, Semafor reported.
Neri took over as CEO from Meg Whitman in February 2018. A year later, HPE acquired U.S. supercomputer maker Cray. In a much bigger deal, HPE last year agreed to buy Juniper Networks for $14 billion in cash.
But the Department of Justice in January filed a lawsuit to block the acquisition. The DOJ said that the companies' proposed transaction would eliminate competition, resulting in higher prices, reduced innovation and fewer choices for companies and consumers.
On the stock market today, HPE stock rose more than 2% to 15.19 in afternoon trades. Elliott built up a stake in the maker of computer servers, networking equipment and data storage systems in early 2025, said reports last week.
Meanwhile, HPE stock has retreated 29% in 2025.
HPE Stock Technical Ratings
Additionally, HPE stock holds an IBD Composite Rating of 64 out of a best possible 99, according to IBD Stock Checkup. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better.
Also, HPE stock holds an Accumulation/Distribution Rating of C. That institutional ownership rating analyzes price and volume changes in a stock over the past 13 weeks of trading. A+ signifies heavy institutional buying; E means heavy selling. Think of a C grade as neutral.
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