Climb Global Solutions (NASDAQ:CLMB) CEO Sells $684,250.00 in Stock

Climb Global Solutions, Inc. (NASDAQ:CLMB) CEO Dale Richard Foster sold 8,500 shares of Climb Global Solutions stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $80.50, for a total value of $684,250.00. Following the completion of the transaction, the chief executive officer directly owned 73,690 shares in the company, valued at $5,932,045. This trade represents a 10.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Climb Global Solutions Stock Performance

Shares of NASDAQ CLMB traded down $0.22 during mid-day trading on Monday, hitting $80.32. The stock had a trading volume of 108,616 shares, compared to its average volume of 80,789. The business has a 50 day moving average price of $110.39 and a two-hundred day moving average price of $116.20. Climb Global Solutions, Inc. has a 1 year low of $79.26 and a 1 year high of $145.02. The firm has a market cap of $370.28 million, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.27 and a beta of 1.18.

Shares of Climb Global Solutions are scheduled to split on the morning of Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly minted shares will be distributed to shareholders after the closing bell on Friday, March 20th.

Climb Global Solutions (NASDAQ:CLMB) last released its quarterly earnings results on Wednesday, February 25th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.27. Climb Global Solutions had a return on equity of 21.86% and a net margin of 3.27%.The business had revenue of $193.85 million during the quarter, compared to analyst estimates of $167.75 million. Equities research analysts predict that Climb Global Solutions, Inc. will post 4.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CLMB. Zacks Research raised shares of Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings lowered shares of Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Wall Street Zen downgraded Climb Global Solutions from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Barrington Research dropped their price target on Climb Global Solutions from $136.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $120.00.

Institutional Trading of Climb Global Solutions

Several institutional investors have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC bought a new stake in Climb Global Solutions in the 3rd quarter worth about $1,210,000. New York State Common Retirement Fund lifted its holdings in shares of Climb Global Solutions by 1,069.8% during the 3rd quarter. New York State Common Retirement Fund now owns 21,465 shares of the company’s stock valued at $2,894,000 after buying an additional 19,630 shares during the period. Thrivent Financial for Lutherans increased its position in Climb Global Solutions by 37.8% during the third quarter. Thrivent Financial for Lutherans now owns 102,478 shares of the company’s stock valued at $13,818,000 after acquiring an additional 28,089 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Climb Global Solutions during the 2nd quarter valued at about $999,000. Finally, Rhumbline Advisers lifted its stake in shares of Climb Global Solutions by 454.5% in the 3rd quarter. Rhumbline Advisers now owns 33,311 shares of the company’s stock worth $4,492,000 after purchasing an additional 27,304 shares during the period. 49.72% of the stock is currently owned by hedge funds and other institutional investors.

Climb Global Solutions Company Profile

Climb Global Solutions Inc operates as a value-added information technology (IT) distribution and solutions company in the United States, Canada, Europe, the United Kingdom, and internationally. It operates in two segments, Distribution and Solutions. The company distributes technical software to corporate and value-added resellers, consultants, and systems integrators under the name Climb Channel Solutions; and provides cloud solutions and resells software, hardware, and services under the name Grey Matter.