Darsana Capital Partners Reduces Stake in Guidewire Software

Darsana Capital Partners LP has reduced its holdings in Guidewire Software, Inc. (NYSE: GWRE) by 13.0% during the second quarter of 2023. According to Holdings Channel, the firm now owns 2,000,000 shares after selling 300,000 shares during the period. Despite this reduction, Guidewire Software continues to represent a significant portion of Darsana’s portfolio, comprising approximately 13.4% and valued at around $470.9 million at the end of the most recent quarter.

Several other hedge funds also adjusted their positions in Guidewire Software recently. Advisors Asset Management Inc. initiated a new position in the first quarter, valued at approximately $25,000, while Quarry LP and Rise Advisors LLC made similar moves with stakes valued at $28,000 and $31,000, respectively. Westside Investment Management Inc. acquired a position worth $32,000 in the second quarter. Notably, Brooklyn Investment Group increased its stake by 38.3% during the first quarter, owning 224 shares valued at about $42,000 after purchasing an additional 62 shares.

Analysts Issue Price Targets for Guidewire Software

Equities research analysts have recently provided updated price targets for Guidewire Software. Wells Fargo & Company raised its target from $265.00 to $275.00, assigning an “overweight” rating on September 5, 2023. Similarly, Royal Bank of Canada increased its price objective from $290.00 to $300.00 while maintaining an “outperform” rating. Citizens JMP reaffirmed a “market outperform” rating with a target of $281.00, and Oppenheimer boosted its price objective from $275.00 to $300.00, also giving an “outperform” rating. Weiss Ratings maintained a “hold (c)” rating on shares on October 8, 2023.

Currently, ten analysts rate the stock as a Buy, while five have given it a Hold rating and one a Sell rating. According to MarketBeat, Guidewire Software holds a consensus rating of “Moderate Buy” along with a consensus target price of $272.92.

Insider Transactions and Stock Performance

In recent insider activity, President John P. Mullen sold 3,000 shares on December 1, 2023, at an average price of $213.44, totaling $640,320.00. Following this transaction, Mullen owned 149,958 shares valued at approximately $32 million, reflecting a 1.96% decrease in his holdings. CEO Michael George Rosenbaum also sold 1,400 shares on December 8, 2023, at an average price of $210.87, resulting in a total of $295,218.00. After this sale, Rosenbaum held 248,158 shares valued at roughly $52.3 million, marking a 0.56% decline in his ownership.

Overall, insiders sold a total of 112,342 shares worth $27 million in the last quarter, and insiders currently own 0.46% of the company’s stock.

As for stock performance, shares of Guidewire opened at $204.62 on a recent Friday, with a 52-week low of $165.08 and a high of $272.60. The company has a market capitalization of $17.4 billion, a PE ratio of 194.88, and a price-to-earnings-growth ratio of 13.14. The fifty-day moving average stands at $225.83, while the 200-day moving average is $228.64.

Guidewire Software, which focuses on providing a platform for property and casualty insurers globally, reported its latest earnings on December 3, 2023. The company achieved earnings per share of $0.66, meeting analysts’ consensus estimates. Additionally, it reported revenue of $332.64 million for the quarter, surpassing expectations of $316.62 million and reflecting a year-over-year revenue increase of 26.5%. Analysts forecast that Guidewire Software will post earnings of $0.52 per share for the current year.

For further updates on Guidewire Software and related news, subscribers can visit HoldingsChannel.com for the latest filings and insider trades.