Microvast Holdings announces departure of chief financial officer
SAN MATEO, CA—Guidewire Software (ETR:SOWGn), Inc. (NYSE:GWRE), whose stock has delivered an impressive 67.75% return over the past year, saw a notable transaction involving its Chief Executive Officer, Michael George Rosenbaum. On February 24, Rosenbaum sold 1,400 shares of the company’s common stock at a price of $203.65 per share, totaling approximately $285,110. This transaction was conducted as part of an automatic sale under a 10b5-1 trading plan, which Rosenbaum adopted on October 15, 2024.
Following this sale, Rosenbaum retains ownership of 271,930 shares in the company. The sale was executed in accordance with a pre-established trading plan, which allows insiders to set up a schedule for selling shares to avoid potential accusations of insider trading.
Guidewire Software, headquartered in San Mateo, California, is a leading provider of software products for the global property and casualty insurance industry. The company continues to innovate within the sector, offering solutions that help insurers adapt and succeed in a rapidly changing market.
In other recent news, Guidewire Software has been in the spotlight following several significant developments. The company has been included in the S&P MidCap 400, replacing Arrowhead Pharmaceuticals (NASDAQ:ARWR), which has contributed to increased investor interest. Goldman Sachs initiated coverage on Guidewire with a Buy rating, setting a 12-month price target of $210. This positive outlook is attributed to Guidewire’s leadership in the property and casualty insurance industry’s shift towards cloud modernization, securing over 60% of core system decisions by direct written premium. Additionally, D.A. Davidson reaffirmed its Buy rating for Guidewire, maintaining a price target of $226 and highlighting the company’s strong competitive position in their "Best-of-Breed Bison" initiative.
In other company news, Guidewire appointed Jeff Sloan to its Board of Directors, bringing extensive experience from his previous role as CEO of Global Payments (NYSE:GPN). This move is expected to bolster Guidewire’s strategic direction and innovation in the insurance sector. Meanwhile, Markel Group Inc. (NYSE:MKL) has successfully migrated its Guidewire ClaimCenter to the cloud, enhancing its claims management capabilities. This transition is part of Markel’s broader strategy to improve operational efficiency and customer service through cloud-based technologies. These recent developments reflect the ongoing advancements and strategic decisions shaping the future of both Guidewire Software and Markel Group.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.