SAN MATEO, Calif.—King James Winston, Chief Administrative Officer and General Counsel at Guidewire Software (ETR:SOWGn), Inc. (NYSE:GWRE), has sold a significant portion of his holdings in the company. The sale comes as Guidewire, currently valued at $14.3 billion, has seen its stock surge 63.6% over the past year. According to a recent SEC filing, Winston sold a total of 2,303 shares of common stock over two separate transactions.
On December 17, Winston sold 1,509 shares at an average price of $171.06 per share, amounting to approximately $258,128. This sale was conducted to cover taxes related to the settlement of Restricted Stock Units, as noted in the filing.
Subsequently, on December 19, Winston sold an additional 794 shares at an average price of $174.43 per share, totaling about $138,497. This transaction was executed under a pre-arranged 10b5-1 Trading Plan, which Winston adopted on October 12, 2023.
Following these transactions, Winston retains ownership of 45,934 shares of Guidewire Software.
In other recent news, Guidewire Software Inc (NYSE:GWRE). has been making headlines with a series of notable developments. The firm's shareholders recently approved key proposals, including the compensation of executive officers and the 2024 Employee Stock Purchase Plan. The company's financial standing remains strong, with a current ratio of 2.66 and a revenue growth of 12.92% over the last twelve months, as reported by InvestingPro.
In the realm of analysts' reports, DA Davidson upgraded its price target for Guidewire following a robust fiscal first-quarter performance, maintaining a Buy rating on the stock. However, BofA Securities maintained its Underperform rating, despite the company's solid performance and gross margin expansion to 60.8%. RBC (TSX:RY) Capital Markets and Stifel also raised their price targets, citing the company's strong financial performance and the closing of significant cloud deals.
These recent developments highlight the dynamic nature of Guidewire's operations and the varied perceptions among analysts. As always, investors are encouraged to stay informed and consider a range of perspectives when making decisions.
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