SecureWorks (NASDAQ:SCWX) Shares Gap Down to $5.95

SecureWorks Corp. (NASDAQ:SCWX)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $5.95, but opened at $5.63. SecureWorks shares last traded at $5.89, with a volume of 8,102 shares changing hands.

SecureWorks Stock Performance

The stock has a 50-day moving average price of $6.78 and a 200-day moving average price of $6.37. The stock has a market cap of $560.28 million, a P/E ratio of -5.89 and a beta of 0.98.

Insiders Place Their Bets

In related news, major shareholder Neil Gagnon bought 5,731 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average cost of $6.72 per share, for a total transaction of $38,512.32. Following the completion of the transaction, the insider now owns 597,149 shares of the company’s stock, valued at $4,012,841.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 19,380 shares of company stock valued at $127,771 in the last quarter. Corporate insiders own 83.10% of the company’s stock.

Hedge Funds Weigh In On SecureWorks

A number of large investors have recently added to or reduced their stakes in the business. UBS Group AG boosted its position in SecureWorks by 74.4% during the 4th quarter. UBS Group AG now owns 4,312 shares of the technology company’s stock valued at $28,000 after buying an additional 1,839 shares during the period. Natixis purchased a new stake in SecureWorks in the fourth quarter worth about $33,000. Tower Research Capital LLC TRC increased its stake in shares of SecureWorks by 1,998.3% during the third quarter. Tower Research Capital LLC TRC now owns 6,064 shares of the technology company’s stock valued at $38,000 after purchasing an additional 5,775 shares in the last quarter. Barclays PLC lifted its holdings in shares of SecureWorks by 86.5% during the first quarter. Barclays PLC now owns 5,045 shares of the technology company’s stock valued at $43,000 after purchasing an additional 2,340 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of SecureWorks by 41.6% in the 1st quarter. Deutsche Bank AG now owns 5,949 shares of the technology company’s stock worth $51,000 after purchasing an additional 1,749 shares in the last quarter. Hedge funds and other institutional investors own 14.38% of the company’s stock.

About SecureWorks

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 adversarial services.