ShoreTel Inc (SHOR) Holdings Boosted by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. boosted its holdings in shares of ShoreTel Inc (NASDAQ:SHOR) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,475 shares of the communications equipment provider’s stock after purchasing an additional 815 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.07% of ShoreTel worth $281,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Virtu KCG Holdings LLC boosted its position in ShoreTel by 54.5% during the second quarter. Virtu KCG Holdings LLC now owns 22,827 shares of the communications equipment provider’s stock worth $132,000 after purchasing an additional 8,048 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in shares of ShoreTel in the second quarter valued at approximately $162,000. Fox Run Management L.L.C. purchased a new position in shares of ShoreTel in the second quarter valued at approximately $179,000. PDT Partners LLC purchased a new position in shares of ShoreTel in the second quarter valued at approximately $179,000. Finally, Voya Investment Management LLC lifted its position in shares of ShoreTel by 11.5% in the second quarter. Voya Investment Management LLC now owns 42,161 shares of the communications equipment provider’s stock valued at $245,000 after acquiring an additional 4,363 shares in the last quarter. Institutional investors own 87.35% of the company’s stock.

Several equities analysts have recently weighed in on SHOR shares. Lake Street Capital downgraded ShoreTel from a “buy” rating to a “hold” rating and set a $7.50 target price on the stock. in a research report on Monday, July 31st. Northland Securities downgraded ShoreTel from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $10.00 to $7.50 in a research report on Friday, July 28th. William Blair downgraded ShoreTel from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 27th. Sidoti downgraded ShoreTel from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Finally, BidaskClub upgraded ShoreTel from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $7.17.

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ShoreTel Inc (NASDAQ SHOR) opened at $7.50 on Friday. ShoreTel Inc has a 1 year low of $5.55 and a 1 year high of $8.41.

ShoreTel Company Profile

ShoreTel, Inc is a provider of business communication solutions. The Company is engaged in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose.

Institutional Ownership by Quarter for ShoreTel (NASDAQ:SHOR)

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