Dale Richard Foster Sells 8,500 Shares of Climb Global Solutions (NASDAQ:CLMB) Stock

Climb Global Solutions, Inc. (NASDAQ:CLMB) CEO Dale Richard Foster sold 8,500 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $80.50, for a total transaction of $684,250.00. Following the completion of the sale, the chief executive officer directly owned 73,690 shares of the company’s stock, valued at $5,932,045. This represents a 10.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Climb Global Solutions Trading Down 0.5%

Climb Global Solutions stock opened at $79.93 on Wednesday. The company has a 50-day moving average price of $109.21 and a 200 day moving average price of $115.58. Climb Global Solutions, Inc. has a 12-month low of $78.58 and a 12-month high of $145.02. The stock has a market cap of $368.48 million, a P/E ratio of 17.19, a PEG ratio of 1.26 and a beta of 1.18.

Shares of Climb Global Solutions are going to split on the morning of Monday, March 23rd. The 4-1 split was announced on Monday, March 2nd. The newly created shares will be issued to shareholders after the market closes on Friday, March 20th.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CLMB shares. Wall Street Zen cut Climb Global Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings lowered Climb Global Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Zacks Research raised Climb Global Solutions from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Barrington Research reduced their price objective on shares of Climb Global Solutions from $136.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $120.00.

Hedge Funds Weigh In On Climb Global Solutions

Several large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new stake in Climb Global Solutions in the third quarter valued at $27,000. Global Retirement Partners LLC purchased a new position in shares of Climb Global Solutions in the 4th quarter valued at about $36,000. Bard Associates Inc. acquired a new stake in shares of Climb Global Solutions during the 4th quarter worth about $55,000. Tower Research Capital LLC TRC raised its position in shares of Climb Global Solutions by 317.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 555 shares of the company’s stock worth $59,000 after acquiring an additional 422 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Climb Global Solutions by 18.2% during the third quarter. IFP Advisors Inc now owns 643 shares of the company’s stock worth $90,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 49.72% of the company’s stock.

About Climb Global Solutions

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.