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Cloudera News: CLDR Stock Pops on Icahn Stake

William White

Cloudera news for Thursday concerning an investment from Icahn Enterprises (NASDAQ:IEP) has CLDR stock on the rise.

Cloudera News: CLDR Stock Pops on Icahn Stake

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Cloudera (NYSE:CLDR) reveals in a filing with the U.S. Securities and Exchange Commission (SEC) that entities under Icahn Enterprises are buying up a large stake in the company.

Here’s a breakdown of the Cloudera news, including how those shares were purchased by Icahn Enterprises and the totals paid when taking into account for the forward contract cost.

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  • High River Limited Partnership — This part of Icahn Enterprises bought 315,000 shares of CLDR stock on Tuesday for $6.45 each. It then bought 815,110 shares of the stock on Wednesday for $6.58 per share.
  • Icahn Partners LP — The first purchase from this group was also on Tuesday and included 736,815 shares of CLDR stock for $6.45 each. The next acquisition was on Wednesday and it covers 1,906,619 shares at a price of $6.58 each.
  • Icahn Partners Master Fund LP — This purchase also took place on Tuesday and includes 523,185 shares of CLDR stock at a price of $6.45 each. The following day another 1,353,820 shares were bought for $6.58 each.

Carl Icahn is moving toward take a large stake in Cloudera in an effort to gain control in the company. This includes pushing for the ability to takeover one of the positions on the Board of Directors. This would likely result in changes at the company as Icahn pushes for changes that would make this investment worthwhile.

CLDR stock was up 4% as of Thursday afternoon, but is down 40% since the start of the year.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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