SecureWorks (NASDAQ:SCWX) Shares Down 4.9%

SecureWorks Corp. (NASDAQ:SCWX) fell 4.9% on Friday . The stock traded as low as $6.94 and last traded at $6.94. 14,954 shares traded hands during trading, a decline of 61% from the average session volume of 37,872 shares. The stock had previously closed at $7.30.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research report on Thursday, June 6th.

SecureWorks Stock Down 4.5 %

The company has a fifty day moving average price of $6.28 and a 200-day moving average price of $6.49. The stock has a market capitalization of $616.15 million, a P/E ratio of -6.58 and a beta of 0.97.

SecureWorks (NASDAQ:SCWX) last issued its earnings results on Thursday, June 6th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. SecureWorks had a negative return on equity of 6.01% and a negative net margin of 25.52%. The firm had revenue of $85.65 million for the quarter, compared to analysts’ expectations of $83.95 million. As a group, research analysts expect that SecureWorks Corp. will post -0.24 earnings per share for the current fiscal year.

Insider Transactions at SecureWorks

In related news, major shareholder Neil Gagnon acquired 13,798 shares of SecureWorks stock in a transaction on Tuesday, April 23rd. The shares were bought at an average cost of $5.99 per share, with a total value of $82,650.02. Following the completion of the purchase, the insider now directly owns 610,947 shares of the company’s stock, valued at approximately $3,659,572.53. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 81.50% of the company’s stock.

Institutional Investors Weigh In On SecureWorks

Large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its stake in SecureWorks by 95.3% during the third quarter. Citigroup Inc. now owns 9,700 shares of the technology company’s stock worth $60,000 after acquiring an additional 4,734 shares during the last quarter. Y.D. More Investments Ltd increased its stake in SecureWorks by 32.6% during the fourth quarter. Y.D. More Investments Ltd now owns 24,963 shares of the technology company’s stock worth $184,000 after acquiring an additional 6,134 shares during the last quarter. Quadrature Capital Ltd increased its stake in SecureWorks by 56.6% during the third quarter. Quadrature Capital Ltd now owns 25,377 shares of the technology company’s stock worth $158,000 after acquiring an additional 9,175 shares during the last quarter. Kovack Advisors Inc. boosted its position in shares of SecureWorks by 114.6% during the fourth quarter. Kovack Advisors Inc. now owns 133,500 shares of the technology company’s stock valued at $985,000 after buying an additional 71,300 shares during the period. Finally, Brooktree Capital Management boosted its position in shares of SecureWorks by 1.1% during the first quarter. Brooktree Capital Management now owns 163,910 shares of the technology company’s stock valued at $1,101,000 after buying an additional 1,775 shares during the period. 14.38% of the stock is owned by institutional investors.

SecureWorks Company Profile

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 penetration testing services.