SecureWorks Corp. (NASDAQ:SCWX) Major Shareholder Neil Gagnon Buys 33,080 Shares

SecureWorks Corp. (NASDAQ:SCWXGet Rating) major shareholder Neil Gagnon bought 33,080 shares of the stock in a transaction on Thursday, June 16th. The shares were acquired at an average cost of $9.43 per share, with a total value of $311,944.40. Following the purchase, the insider now owns 500,226 shares of the company’s stock, valued at approximately $4,717,131.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of SecureWorks stock traded up $0.34 on Tuesday, hitting $10.58. The stock had a trading volume of 112,953 shares, compared to its average volume of 143,262. The stock has a 50 day moving average of $11.16 and a 200 day moving average of $13.36. SecureWorks Corp. has a twelve month low of $9.26 and a twelve month high of $26.89. The firm has a market capitalization of $897.82 million, a P/E ratio of -16.03 and a beta of 1.00.

SecureWorks (NASDAQ:SCWXGet Rating) last released its quarterly earnings data on Thursday, June 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.06. SecureWorks had a negative return on equity of 4.66% and a negative net margin of 10.64%. The company had revenue of $121.00 million during the quarter, compared to the consensus estimate of $120.90 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The firm’s revenue was down 13.3% compared to the same quarter last year. On average, equities analysts anticipate that SecureWorks Corp. will post -1.02 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in SecureWorks in the fourth quarter valued at approximately $28,000. FNY Investment Advisers LLC bought a new stake in SecureWorks in the first quarter valued at approximately $127,000. Dynamic Technology Lab Private Ltd bought a new stake in SecureWorks in the first quarter valued at approximately $145,000. Delphia USA Inc. bought a new stake in SecureWorks in the first quarter valued at approximately $148,000. Finally, Barclays PLC boosted its holdings in SecureWorks by 197.0% in the fourth quarter. Barclays PLC now owns 12,116 shares of the technology company’s stock valued at $194,000 after acquiring an additional 8,037 shares during the last quarter. Institutional investors and hedge funds own 11.87% of the company’s stock.

Several research analysts have commented on the company. Morgan Stanley lowered their target price on SecureWorks from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, June 3rd. The Goldman Sachs Group lowered their target price on SecureWorks from $14.00 to $12.00 and set a “sell” rating for the company in a research note on Monday, March 21st. JPMorgan Chase & Co. lowered their target price on SecureWorks from $19.50 to $16.00 and set an “underweight” rating for the company in a research note on Friday, March 18th. Finally, StockNews.com began coverage on SecureWorks in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, SecureWorks currently has an average rating of “Hold” and an average price target of $15.80.

About SecureWorks (Get Rating)

SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions, managed security services, and professional services, including incident response and security risk consulting services.

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