GWRE Guidewire Software, Inc. Common Stock
$182.84
Price · Aug 19, 2026
Fundamentals as of Jun 5, 2026
52W Range
$102–$273
47% of range
Analyst Rating
BUY
21 analysts
Price Target
$201
+10% upside
P/E (TTM)
225.7
ROE
5.1%
Net Profit Margin
5.8%
About Guidewire Software, Inc. Common Stock Company overview from Wikipedia
Guidewire Software, Inc., commonly Guidewire, is an American software company based in San Mateo, California. It offers an industry platform for property and casualty (P&C) insurance carriers in the U.S. and worldwide.
Read more
Guidewire Software, Inc., commonly Guidewire, is an American software company based in San Mateo, California. It offers an industry platform for property and casualty (P&C) insurance carriers in the U.S. and worldwide.
History
The company was established in 2001 and founded by: Ken Branson, James Kwak, John Raguin, and Marcus Ryu from Ariba (and McKinsey, where James and Marcus had met); and John Seybold and Mark Shaw from Kana Software. In September 2011, Guidewire filed with the SEC to raise up to $100 million in an initial public offering (IPO) and first publicly traded on the NYSE in January 2012. Guidewire was later cited as being one of the top IPOs of 2012, even #1.
In 2011, Guidewire settled a patent related lawsuit with Accenture regarding its claims management software.
In 2013, Guidewire acquired Millbrook, Inc., a business intelligence company. In 2016, Guidewire acquired ISCS (cloud computing), FirstBest (underwriting) and EagleEye Analytics. In 2017, Guidewire acquired Cyence, a data science and risk analytics company enabling P&C insurers to grow.
On August 5, 2019, Guidewire appointed Mike Rosenbaum as CEO.
In March 2023, Guidewire executed a sublease agreement to exchange headquarters with Roblox Corporation, another software company in San Mateo. Guidewire moved into and assumed the remaining lease term for the Roblox headquarters at 970 Park Place; Roblox assumed Guidewire's remaining lease term for Bay Meadows Station 2 at 2850 Delaware Street.
The company has been cited as being among the 50 most desirable mid-size Bay Area companies to work for, and was in the "Top 50 Large Companies" in Glassdoor's Best Places To Work. In June 2026, the company reported that its annual recurring revenue (ARR) surpassed $1.14 billion during the third quarter of fiscal year 2026, driven by continuous expansion of its cloud platform and subscription model.
Products
Guidewire is a recurring revenue software company as it sells term licenses. The company also sells its software as a service on a subscription revenue basis. Its three main software products are ClaimCenter, PolicyCenter, and BillingCenter, each servicing a major component of a P&C insurance carrier. There are a number of add-on modules, as well as an increasing number of value-added online services provided via Guidewire Analytics and Guidewire Marketplace. Guidewire also develops the Gosu programming language.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
GWRE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$182.84
Market Cap
$15.46B
P/E (TTM)
225.7
EPS (TTM)
$0.81
Revenue (TTM)
$1.20B
Div Yield
—
ROE
5.1%
Debt/Equity
—
52W Range
$102 – $273
GWRE Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.20B
2016-07-31
→
2025-07-31
EPS
$0.81
2016-07-31
→
2025-07-31
Free Cash Flow
$295M
2016-07-31
→
2025-07-31
Margins
5.8%
2016-07-31
→
2025-07-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
GWRE
Peer Median
P/E (TTM)
225.7
44.3
P/S (TTM)
12.9
7.8
P/B
10.6
8.5
Price / FCF
52.4
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
GWRE
Peer Median
Gross Margin
62.5%
79.3%
Operating Margin
3.4%
—
Net Profit Margin
5.8%
14.8%
ROA
2.8%
7.7%
ROE
5.1%
13.2%
ROIC
4.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
GWRE
Peer Median
Current Ratio
2.8
1.6
Quick Ratio
2.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
GWRE
Peer Median
Revenue YoY
22.6%
—
Revenue CAGR 3Y
14.0%
—
Revenue CAGR 5Y
10.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
GWRE
Peer Median
GWRE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
21 analysts
- Strong Buy 8 38.1%
- Buy 10 47.6%
- Hold 3 14.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
14 analysts · 2026-08-15
Median
$206.00
Now
$182.84
Low
$137.00
High
$258.00
Median target
$206.00
+12.7%
Mean target
$201.00
+9.9%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.22%
Next Report
Sep 03, 2026
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| Sept. 30, 2026 | $0.82 | $0.76 | — |
| June 30, 2026 | $0.82 | $0.76 | 0.06% |
| March 31, 2026 | $1.17 | $0.79 | 0.38% |
| Dec. 31, 2025 | $0.66 | $0.62 | 0.04% |
| Sept. 30, 2025 | $0.84 | $0.65 | 0.19% |
| June 30, 2025 | $0.88 | $0.47 | 0.41% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| GWRE | $19.12B | 279.3 | 22.6% | 5.8% | 5.1% | 62.5% |
| U | $19.12B | -46.0 | 2.0% | -21.8% | -12.5% | 74.2% |
| CRCL | — | -180.2 | 63.9% | — | — | — |
| NTNX | $20.22B | 115.6 | 18.1% | 7.4% | -25.1% | 86.8% |
| PTC | $24.27B | 33.4 | 19.2% | 26.8% | 20.3% | 83.8% |
| DT | $10.90B | 68.5 | 18.8% | 8.1% | 6.0% | 81.6% |
| FIG | $19.17B | -10.1 | 41.0% | -118.4% | -85.1% | 82.4% |
| TYL | $21.86B | 63.0 | 9.1% | 13.5% | 8.6% | 46.5% |
| TRMB | $18.49B | 44.5 | -2.6% | 11.8% | 7.4% | 69.1% |
| AUR | — | — | — | — | — | — |
| MANH | $10.37B | 48.1 | 3.8% | 20.3% | 74.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.20B | $980M | $905M | $813M | $743M | $742M | $720M | $653M | $510M | $424M | $381M | $350M | |
| Cost of Revenue | $450M | $397M | $447M | $435M | $354M | $338M | $324M | $297M | $192M | $152M | $147M | $149M | |
| Gross Profit | $752M | $583M | $458M | $377M | $390M | $404M | $395M | $356M | $318M | $273M | $233M | $201M | |
| R&D Expense | $296M | $269M | $250M | $229M | $201M | $201M | $189M | $172M | $130M | $112M | $93M | $76M | |
| SG&A Expense | $184M | $168M | $170M | $165M | $143M | $85M | $74M | $76M | $57M | $51M | $41M | $35M | |
| Operating Expenses | $711M | $636M | $608M | $577M | $495M | $428M | $394M | $372M | $296M | $256M | $217M | $183M | |
| Operating Income | $41M | $-53M | $-149M | $-199M | $-106M | $-24M | $1M | $-16M | $22M | $16M | $16M | $18M | |
| Interest Expense | $13M | $7M | $7M | $19M | $19M | $18M | $17M | $6M | $13.0K | $0 | · | · | |
| Other Non-op | $-35M | $-11M | $-2M | $-17M | $13M | $-7M | $-2M | $509.0K | $811.0K | $-505.0K | $-2M | $174.0K | |
| Pretax Income | $49M | $-27M | $-134M | $-230M | $-104M | $-24M | $12M | $-8M | $29M | $21M | $17M | $20M | |
| Income Tax | $-20M | $-21M | $-22M | $-49M | $-38M | $3M | $-8M | $18M | $10M | $6M | $7M | $5M | |
| Net Income | $70M | $-6M | $-112M | $-180M | $-67M | $-27M | $21M | $-27M | $18M | $15M | $10M | $15M | |
| EPS (Basic) | $0.83 | $-0.07 | $-1.36 | $-2.16 | $-0.79 | $-0.33 | $0.25 | $-0.34 | $0.24 | $0.21 | $0.14 | $0.22 | |
| EPS (Diluted) | $0.81 | $-0.07 | $-1.36 | $-2.16 | $-0.79 | $-0.33 | $0.25 | $-0.34 | $0.24 | $0.20 | $0.14 | $0.21 | |
| Shares (Basic) | 83,846,793 | 82,291,483 | 82,176,629 | 83,569,517 | 83,577,375 | 82,855,392 | 81,447,998 | 77,709,592 | 73,994,577 | 72,026,694 | 70,075,908 | 65,748,896 | |
| Shares (Diluted) | 85,911,653 | 82,291,483 | 82,176,629 | 83,569,517 | 83,577,375 | 82,855,392 | 82,681,214 | 77,709,592 | 75,328,343 | 73,765,960 | 72,314,433 | 69,112,733 | |
| EBITDA | $41M | $-53M | $-149M | $-199M | $-106M | $-24M | $1M | $-16M | $27M | $16M | $16M | $18M |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $698M | $548M | $402M | $606M | $385M | $367M | $254M | $437M | $263M | $224M | $212M | $148M | |
| Short-term Investments | $452M | $456M | $397M | $370M | $735M | $767M | $870M | $630M | $310M | $405M | $359M | $296M | |
| Receivables | $141M | $137M | $151M | $144M | $104M | $114M | $138M | $125M | $79M | $63M | $62M | $50M | |
| Prepaid Expense | $86M | $68M | $62M | $61M | $53M | $46M | $36M | $30M | $27M | $17M | $14M | $11M | |
| Current Assets | $1.51B | $1.30B | $1.10B | $1.25B | $1.36B | $1.34B | $1.33B | $1.22B | $679M | $708M | $662M | $516M | |
| PP&E (Net) | $60M | $55M | $54M | $81M | $80M | $65M | $66M | $19M | $14M | $13M | $12M | $13M | |
| PP&E (Gross) | $146M | $121M | $104M | $137M | $131M | $101M | $99M | $48M | $38M | $36M | $31M | $26M | |
| Accum. Depreciation | $85M | $66M | $49M | $56M | $51M | $36M | $33M | $30M | $23M | $23M | $19M | $14M | |
| Goodwill | $394M | $372M | $372M | $372M | $341M | $341M | $341M | $341M | $142M | $30M | $9M | $9M | |
| Intangibles | $12M | $9M | $14M | $21M | $20M | $40M | $67M | $96M | $71M | $14M | $4M | $5M | |
| Other Non-current Assets | $76M | $67M | $68M | $57M | $38M | $35M | $46M | $23M | $20M | $12M | $926.0K | $1M | |
| Total Assets | $2.72B | $2.23B | $2.03B | $2.27B | $2.32B | $2.36B | $2.17B | $1.98B | $1.08B | $916M | $800M | $757M | |
| Accounts Payable | $29M | $15M | $35M | $40M | $28M | $23M | $34M | $31M | $13M | $10M | $9M | $7M | |
| Accrued Liabilities | · | · | · | · | $32M | $26M | $16M | · | · | · | · | · | |
| Current Liabilities | $545M | $838M | $373M | $338M | $300M | $225M | $232M | $238M | $168M | $119M | $104M | $95M | |
| Capital Leases | $31M | $35M | $43M | $105M | $115M | $119M | · | · | · | · | · | · | |
| Other Non-current Liabilities | $9M | $8M | $9M | $7M | $10M | $19M | $20M | $774.0K | $2M | $3M | $4M | $5M | |
| Total Liabilities | $1.26B | $884M | $828M | $815M | $777M | $708M | $593M | $568M | $190M | $132M | $111M | $107M | |
| Long-term Debt | · | $399M | $397M | $358M | $344M | $330M | $317M | $305M | · | · | · | · | |
| Common Stock | $8.0K | $8.0K | $8.0K | $8.0K | $8.0K | $8.0K | $8.0K | $8.0K | $8.0K | $7.0K | $7.0K | $7.0K | |
| Paid-in Capital | · | · | · | $-1.76B | · | · | · | · | · | · | · | · | |
| Retained Earnings | $-554M | $-624M | $-618M | $-284M | $-66M | $163M | $190M | $125M | $66M | $48M | $33M | $23M | |
| AOCI | $-9M | $-12M | $-14M | $-20M | $-6M | $-5M | $-8M | $-8M | $-6M | $-7M | $-6M | $-1M | |
| Stockholders' Equity | $1.46B | $1.34B | $1.20B | $1.45B | $1.54B | $1.66B | $1.57B | $1.41B | $889M | $784M | $689M | $651M | |
| Liabilities + Equity | $2.72B | $2.23B | $2.03B | $2.27B | $2.32B | $2.36B | $2.17B | $1.98B | $1.08B | $916M | $800M | $757M | |
| Shares Outstanding | 84,530,418 | 83,025,637 | 81,440,669 | 84,084,209 | 83,194,157 | 83,461,925 | 82,140,883 | 80,611,698 | 75,007,625 | 73,039,919 | 71,005,738 | 69,082,261 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $24M | $22M | $25M | $34M | $37M | $43M | $40M | $36M | $19M | $9M | $7M | $7M | |
| Stock-based Comp | $162M | $146M | $143M | $137M | $115M | $102M | $92M | $90M | $72M | $66M | $51M | $43M | |
| Deferred Tax | $-30M | $-27M | $-27M | $-53M | $-36M | $-12M | $-13M | $14M | $-1M | $-4M | $136.0K | $-4M | |
| Amort. of Intangibles | $5M | $6M | $7M | $14M | $20M | $27M | $29M | $28M | $12M | $2M | $1M | $1M | |
| Operating Cash Flow | $301M | $196M | $38M | $-38M | $112M | $113M | $116M | $140M | $139M | $100M | $64M | $75M | |
| CapEx | $6M | $6M | $6M | $10M | $19M | $21M | $45M | $9M | $6M | $7M | $6M | $5M | |
| Investing Cash Flow | $-237M | $-52M | $13M | $312M | $64M | $-6M | $-301M | $-538M | $-113M | $-101M | $23M | $-380M | |
| Stock Issued | · | · | · | · | · | $0 | $0 | $221M | $0 | $0 | $0 | $390M | |
| Stock Repurchased | $0 | $0 | $262M | $37M | $161M | $0 | $0 | · | · | · | · | · | |
| Net Stock Activity | $0 | $0 | $-262M | $-37M | $-161M | $0 | $0 | $221M | · | $0 | $0 | $390M | |
| Financing Cash Flow | $82M | $1M | $-262M | $-37M | $-159M | $5M | $4M | $573M | $13M | $13M | $-17M | $373M | |
| Net Change in Cash | $150M | $142M | $-208M | $230M | $18M | $113M | $-183M | $174M | $40M | $11M | $64M | $68M | |
| Taxes Paid | $8M | $9M | $5M | $4M | $4M | $5M | $5M | $5M | $4M | $4M | $2M | $2M | |
| Free Cash Flow | $295M | $189M | $33M | $-47M | $93M | $92M | $71M | $131M | $131M | $93M | $57M | $70M | |
| Levered FCF | $276M | $188M | $27M | $-63M | $81M | $72M | $42M | $110M | · | · | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 62.5% | 59.5% | 50.6% | 43.3% | 49.5% | 54.5% | 54.9% | 54.5% | 62.7% | 64.2% | 61.3% | 57.5% | |
| Operating Margin | 3.4% | -5.4% | -16.5% | -24.5% | -14.2% | -3.2% | 0.20% | -2.4% | 5.2% | 3.9% | 4.3% | 5.3% | |
| Net Margin | 5.8% | -0.62% | -12.4% | -22.2% | -8.9% | -3.7% | 2.9% | -4.1% | 4.1% | 3.5% | 2.6% | 4.2% | |
| Pretax Margin | 4.1% | -2.7% | -14.8% | -28.3% | -14.0% | -3.3% | 1.7% | -1.3% | 6.5% | 4.9% | 4.4% | 5.7% | |
| EBITDA Margin | 3.4% | -5.4% | -16.5% | -24.5% | -14.2% | -3.2% | 0.20% | -2.4% | 5.2% | 3.9% | 4.3% | 5.3% | |
| ROA | 2.8% | -0.29% | -5.2% | -7.9% | -2.8% | -1.2% | 1.0% | -1.8% | 2.1% | 1.8% | 1.3% | 2.8% | |
| ROE | 5.1% | -0.46% | -9.3% | -13.7% | -4.3% | -1.7% | 1.3% | -1.9% | 2.5% | 2.0% | 1.5% | 3.4% | |
| ROIC | 4.0% | -0.89% | -10.4% | -10.8% | -4.4% | -1.6% | 0.16% | -3.6% | 1.9% | 1.5% | 1.4% | 2.1% |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.8 | 1.5 | 2.9 | 3.7 | 4.5 | 6.0 | 5.7 | 5.1 | 4.2 | 5.9 | 6.3 | 5.4 | |
| Quick Ratio | 2.4 | 1.4 | 2.5 | 3.3 | 4.1 | 5.5 | 5.4 | 5.0 | 4.0 | 5.8 | 6.1 | 5.2 | |
| Interest Coverage | 3.1 | -7.8 | -22.3 | -10.3 | -5.6 | -1.3 | 0.1 | -2.4 | · | · | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | 0.4 | 0.4 | 0.3 | 0.3 | 0.3 | 0.4 | 0.5 | 0.5 | 0.5 | 0.7 | |
| Receivables Turnover | 8.7 | 6.8 | 6.1 | 6.6 | 6.8 | 5.9 | 5.5 | 6.4 | 7.2 | 6.8 | 6.8 | 7.7 |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 22.6% | 8.3% | 11.4% | 9.3% | 0.13% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 14.0% | 9.7% | 6.8% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 10.1% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.20B | $980M | $905M | $813M | $743M | $742M | $720M | $653M | $510M | $424M | $381M | $350M | |
| Net Income TTM | $70M | $-6M | $-112M | $-180M | $-67M | $-27M | $21M | $-27M | $18M | $15M | $10M | $15M | |
| Market Cap | $19.12B | $12.46B | $6.91B | $6.54B | $9.58B | $9.82B | $8.38B | $6.95B | $5.41B | $4.49B | $4.19B | $2.80B | |
| P/E | 279.3 | -2143.9 | -62.4 | -36.0 | -145.8 | -356.5 | 408.3 | -253.5 | 300.7 | 307.4 | 421.8 | 192.9 | |
| P/S | 15.9 | 12.7 | 7.6 | 8.0 | 12.9 | 13.2 | 11.7 | 10.6 | 10.6 | 10.6 | 11.0 | 8.0 | |
| P/B | 13.1 | 9.3 | 5.8 | 4.5 | 6.2 | 5.9 | 5.3 | 4.9 | 6.1 | 5.7 | 6.1 | 4.3 | |
| P / Tangible Book | 18.2 | 13.0 | 8.5 | 6.2 | 8.1 | 7.7 | · | · | · | · | · | · | |
| P / Cash Flow | 63.6 | 63.7 | 179.9 | -172.2 | 85.9 | 86.9 | 72.2 | 49.5 | 39.5 | 44.9 | 65.8 | 37.1 | |
| P / FCF | 64.8 | 65.8 | 212.1 | -137.7 | 103.5 | 107.1 | 117.8 | 53.0 | 41.2 | 48.4 | 73.1 | 39.7 | |
| Earnings Yield | 0.36% | -0.05% | -1.6% | -2.8% | -0.69% | -0.28% | 0.24% | -0.39% | 0.33% | 0.33% | 0.24% | 0.52% |
Income Statement 17
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $373M | $359M | $333M | $357M | $294M | $289M | $263M | $292M | $241M | $241M | $207M | $270M | $207M | $233M | $195M | $245M | |
| Cost of Revenue | $136M | $128M | $123M | $125M | $111M | $110M | $105M | $105M | $98M | $98M | $95M | $106M | $109M | $109M | $123M | $122M | |
| Gross Profit | $237M | $232M | $210M | $232M | $183M | $179M | $158M | $186M | $142M | $142M | $112M | $164M | $99M | $123M | $72M | $123M | |
| R&D Expense | $88M | $83M | $78M | $84M | $73M | $70M | $69M | $75M | $66M | $65M | $62M | $67M | $63M | $62M | $58M | $60M | |
| SG&A Expense | $50M | $48M | $48M | $52M | $48M | $42M | $43M | $46M | $42M | $40M | $39M | $41M | $47M | $40M | $42M | $47M | |
| Operating Expenses | $206M | $193M | $191M | $202M | $178M | $167M | $163M | $176M | $159M | $155M | $146M | $158M | $157M | $147M | $147M | $155M | |
| Operating Income | $31M | $38M | $18M | $30M | $4M | $12M | $-5M | $10M | $-17M | $-12M | $-34M | $6M | $-58M | $-23M | $-75M | $-32M | |
| Interest Expense | · | · | · | · | · | · | · | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $5M | |
| Other Non-op | $-19M | $27M | $-5M | $1M | $34M | $-66M | $-4M | $-2M | $-7M | $11M | $-14M | $4M | $-3M | $11M | $-14M | $-3M | |
| Pretax Income | $20M | $75M | $25M | $41M | $49M | $-43M | $3M | $19M | $-14M | $7M | $-39M | $16M | $-56M | $-8M | $-85M | $-37M | |
| Income Tax | $3M | $14M | $-7M | $-11M | $3M | $-6M | $-6M | $2M | $-9M | $-3M | $-12M | $4M | $-11M | $979.0K | $-16M | $-6M | |
| Net Income | $16M | $60M | $31M | $52M | $46M | $-37M | $9M | $17M | $-5M | $10M | $-27M | $12M | $-46M | $-9M | $-69M | $-19M | |
| EPS (Basic) | $0.20 | $0.71 | $0.37 | $0.62 | $0.55 | $-0.45 | $0.11 | $0.21 | $-0.07 | $0.12 | $-0.33 | $0.14 | $-0.56 | $-0.11 | $-0.83 | $-0.36 | |
| EPS (Diluted) | $0.19 | $0.70 | $0.36 | $0.61 | $0.54 | $-0.45 | $0.11 | $0.21 | $-0.07 | $0.12 | $-0.33 | $0.14 | $-0.56 | $-0.11 | $-0.83 | $-0.36 | |
| Shares (Basic) | 84,241,069 | 84,858,179 | 84,780,201 | -167,179,804 | 84,044,661 | 83,705,700 | 83,276,236 | -164,033,170 | 82,500,109 | 82,133,632 | 81,690,912 | -165,028,449 | 81,832,244 | 82,051,867 | 83,320,967 | -166,759,298 | |
| Shares (Diluted) | 85,065,999 | 86,116,567 | 86,451,737 | -169,635,558 | 85,880,643 | 83,705,700 | 85,960,868 | -165,204,618 | 82,500,109 | 83,305,080 | 81,690,912 | -165,028,449 | 81,832,244 | 82,051,867 | 83,320,967 | -166,759,298 | |
| EBITDA | $31M | $38M | $18M | · | $4M | $12M | $-5M | · | $-17M | $-12M | $-34M | · | $-58M | $-23M | $-75M | · |
Balance Sheet 23
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $295M | $408M | $492M | $698M | $510M | $697M | $824M | $548M | $360M | $350M | $301M | · | $267M | $275M | $263M | · | |
| Short-term Investments | $455M | $511M | $520M | $452M | $410M | $471M | $515M | $456M | $423M | $428M | $412M | · | $421M | $440M | $442M | · | |
| Receivables | $139M | $163M | $95M | $141M | $147M | $123M | $97M | $137M | $104M | $128M | $93M | · | $129M | $128M | $88M | · | |
| Prepaid Expense | $102M | $89M | $88M | $86M | $78M | $72M | $72M | $68M | $69M | $64M | $62M | · | $61M | $64M | $59M | · | |
| Current Assets | $1.22B | $1.35B | $1.36B | $1.51B | $1.31B | $1.48B | $1.64B | $1.30B | $1.08B | $1.06B | $977M | · | $1.01B | $1.01B | $944M | · | |
| PP&E (Net) | $67M | $65M | $65M | $60M | $56M | $54M | $55M | $55M | $55M | $55M | $55M | · | $54M | $79M | $79M | · | |
| PP&E (Gross) | · | · | · | $146M | · | · | · | $121M | · | · | · | · | $101M | · | · | · | |
| Accum. Depreciation | · | · | · | $85M | · | · | · | $66M | · | · | · | · | $47M | · | · | · | |
| Goodwill | $421M | $422M | $394M | $394M | $394M | $372M | $372M | $372M | $372M | $372M | $372M | · | $372M | $372M | $372M | · | |
| Intangibles | $18M | $20M | $11M | $12M | $13M | $6M | $8M | $9M | $10M | $12M | $13M | · | $16M | $17M | $19M | · | |
| Other Non-current Assets | $87M | $76M | $72M | $76M | $65M | $64M | $65M | $67M | $60M | $60M | $64M | · | $59M | $56M | $51M | · | |
| Total Assets | $2.54B | $2.69B | $2.64B | $2.72B | $2.49B | $2.54B | $2.60B | $2.23B | $2.04B | $2.01B | $1.92B | · | $1.92B | $2.00B | $1.95B | · | |
| Accounts Payable | $35M | $29M | $34M | $29M | $29M | $25M | $31M | $15M | $24M | $22M | $19M | · | $36M | $38M | $42M | · | |
| Current Liabilities | $497M | $459M | $390M | $545M | $406M | $559M | $615M | $838M | $705M | $307M | $262M | · | $275M | $275M | $253M | · | |
| Capital Leases | $27M | $29M | $29M | $31M | $33M | $34M | $33M | $35M | $37M | $39M | $41M | · | $37M | $99M | $101M | · | |
| Other Non-current Liabilities | $13M | $12M | $9M | $9M | $8M | $5M | $5M | $8M | $10M | $9M | $9M | · | $7M | $7M | $7M | · | |
| Total Liabilities | $1.22B | $1.18B | $1.11B | $1.26B | $1.13B | $1.27B | $1.33B | $884M | $755M | $757M | $714M | · | $721M | $784M | $763M | · | |
| Common Stock | $8.0K | $8.0K | $9.0K | $8.0K | $8.0K | $8.0K | $8.0K | $8.0K | $8.0K | $8.0K | $8.0K | · | $8.0K | $8.0K | $8.0K | · | |
| Retained Earnings | $-846M | $-611M | $-523M | $-554M | $-606M | $-652M | $-615M | $-624M | $-641M | $-635M | $-645M | · | $-584M | $-483M | $-474M | · | |
| AOCI | $-7M | $-3M | $-8M | $-9M | $-9M | $-15M | $-12M | $-12M | $-15M | $-12M | $-17M | · | $-15M | $-16M | $-24M | · | |
| Stockholders' Equity | $1.32B | $1.51B | $1.53B | $1.46B | $1.36B | $1.27B | $1.27B | $1.34B | $1.29B | $1.26B | $1.21B | $1.20B | $1.20B | $1.22B | $1.19B | $1.45B | |
| Liabilities + Equity | $2.54B | $2.69B | $2.64B | $2.72B | $2.49B | $2.54B | $2.60B | $2.23B | $2.04B | $2.01B | $1.92B | · | $1.92B | $2.00B | $1.95B | · | |
| Shares Outstanding | · | · | · | 84,530,418 | · | · | · | 83,025,637 | · | · | · | · | · | · | · | · |
Cash Flow 14
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $7M | $7M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $5M | $5M | $5M | $6M | $7M | $8M | $8M | |
| Stock-based Comp | $45M | $47M | $43M | $42M | $40M | $41M | $38M | $37M | $37M | $36M | $36M | $37M | $35M | $36M | $35M | $34M | |
| Amort. of Intangibles | · | · | · | $2M | $1M | · | · | $1M | $1M | · | · | · | · | · | · | $3M | |
| Operating Cash Flow | $61M | $112M | $-67M | $245M | $32M | $86M | $-62M | $194M | $5M | $69M | $-72M | $173M | $-49M | $1M | $-87M | $84M | |
| CapEx | $2M | $3M | $5M | $3M | $703.0K | $790.0K | $843.0K | $2M | $678.0K | $3M | $998.0K | $3M | $677.0K | $1M | $604.0K | $2M | |
| Investing Cash Flow | $71M | $-66M | $-139M | $-58M | $-48M | $-53M | $-78M | $-7M | $6M | $-23M | $-28M | $9M | $53M | $6M | $-54M | $197M | |
| Stock Issued | $0 | · | · | · | $0 | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Repurchased | $244M | · | · | $0 | $0 | · | · | $0 | $0 | $0 | $0 | $48M | $14M | $0 | $200M | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | $0 | · | · | · | $-200M | · | |
| Financing Cash Flow | $-244M | $-135M | $413.0K | $728.0K | $-178M | $-156M | $416M | $1M | $10.0K | $4.0K | $0 | $-48M | $-14M | $2.0K | $-200M | $0 | |
| Net Change in Cash | $-113M | $-85M | $-206M | $188M | $-187M | $-126M | $276M | $188M | $10M | $49M | $-104M | $135M | $-10M | $12M | $-345M | $280M | |
| Taxes Paid | $3M | $2M | $2M | $1M | $2M | $1M | $3M | $3M | $3M | $2M | $883.0K | $750.0K | $2M | $1M | $1M | $651.0K | |
| Free Cash Flow | · | · | $-72M | · | · | · | $-63M | · | · | · | $-73M | · | · | · | $-88M | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | $-74M | · | · | · | $-89M | · |
Profitability 8
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.5% | 64.5% | 63.0% | · | 62.3% | 61.9% | 60.2% | · | 59.1% | 59.1% | 54.1% | · | 47.7% | 53.1% | 37.0% | · | |
| Operating Margin | 8.2% | 10.7% | 5.5% | · | 1.5% | 4.0% | -1.8% | · | -6.9% | -5.1% | -16.3% | · | -27.9% | -10.0% | -38.2% | · | |
| Net Margin | 4.4% | 16.7% | 9.4% | · | 15.7% | -12.9% | 3.5% | · | -2.3% | 4.0% | -13.1% | · | -22.0% | -4.0% | -35.5% | · | |
| Pretax Margin | 5.3% | 20.8% | 7.4% | · | 16.6% | -14.9% | 1.1% | · | -5.9% | 2.9% | -18.6% | · | -27.1% | -3.5% | -43.7% | · | |
| EBITDA Margin | 8.2% | 10.7% | 5.5% | · | 1.5% | 4.0% | -1.8% | · | -6.9% | -5.1% | -16.3% | · | -27.9% | -10.0% | -38.2% | · | |
| ROA | 0.66% | 2.3% | 1.2% | · | 2.0% | -1.6% | 0.40% | · | -0.28% | 0.48% | -1.4% | · | -2.2% | -0.44% | -3.4% | · | |
| ROE | 1.2% | 4.3% | 2.2% | · | 3.5% | -2.9% | 0.74% | · | -0.44% | 0.78% | -2.3% | · | -3.5% | -0.68% | -5.2% | · | |
| ROIC | 1.9% | 2.1% | 1.5% | · | 0.31% | 0.80% | -1.2% | · | -0.50% | -1.4% | -2.0% | · | -3.9% | -2.1% | -5.1% | · |
Liquidity & Solvency 3
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.4 | 2.9 | 3.5 | · | 3.2 | 2.6 | 2.7 | · | 1.5 | 3.5 | 3.7 | · | 3.7 | 3.7 | 3.7 | · | |
| Quick Ratio | 1.8 | 2.4 | 2.8 | · | 2.6 | 2.3 | 2.3 | · | 1.3 | 3.0 | 3.1 | · | 3.0 | 3.1 | 3.1 | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | -9.9 | -7.3 | -20.1 | · | -34.4 | -13.8 | -44.5 | · |
Efficiency 2
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | |
| Receivables Turnover | 2.6 | 2.5 | 3.5 | · | 2.3 | 2.3 | 2.8 | · | 2.1 | 1.9 | 2.3 | · | 1.9 | 1.9 | 2.3 | · |
Valuation (TTM) 4
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.36B | $1.27B | $1.18B | · | $1.09B | $1.03B | $952M | · | $896M | $888M | $843M | · | $833M | $830M | $763M | · | |
| Net Income TTM | $154M | $100M | $49M | · | $12M | $-24M | $-14M | · | $-68M | $-72M | $-151M | · | $-193M | $-189M | $-231M | · | |
| P/E | 77.3 | 122.4 | 417.2 | · | 1575.2 | -728.5 | -1095.6 | · | -131.4 | -126.9 | -49.3 | · | -34.8 | -34.5 | -22.6 | · | |
| Earnings Yield | 1.3% | 0.82% | 0.24% | · | 0.06% | -0.14% | -0.09% | · | -0.76% | -0.79% | -2.0% | · | -2.9% | -2.9% | -4.4% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 | 2021-07-31 | |
|---|---|---|---|---|---|
| Revenue | $1.20B | $980M | $905M | $813M | $743M |
| Gross Margin % | 62.5% | 59.5% | 50.6% | 43.3% | 49.5% |
| Operating Margin % | 3.4% | -5.4% | -16.5% | -24.5% | -14.2% |
| Net Income | $70M | $-6M | $-112M | $-180M | $-67M |
| Diluted EPS | $0.81 | $-0.07 | $-1.36 | $-2.16 | $-0.79 |
Balance Sheet
| 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 | 2021-07-31 | |
|---|---|---|---|---|---|
| Current Ratio | 2.8 | 1.5 | 2.9 | 3.7 | 4.5 |
| Quick Ratio | 2.4 | 1.4 | 2.5 | 3.3 | 4.1 |
Cash Flow
| 2025-07-31 | 2024-07-31 | 2023-07-31 | 2022-07-31 | 2021-07-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $295M | $189M | $33M | $-47M | $93M |
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Institutional owners (13F) 623 filers · $7.8B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 92 (-10 vs prior Q) | 116 (-34 vs prior Q) | 160 (-85 vs prior Q) | 228 (+38 vs prior Q) | +9.7M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BAMCO INC /NY/ | $1,106,767,811 | 8,994,456 | 14.25% | Shares |
| Linonia Partnership LP | $853,165,083 | 6,933,483 | 10.99% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $554,621,788 | 4,507,288 | 7.14% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $473,184,468 | 3,845,465 | 6.09% | Shares |
| Darsana Capital Partners LP | $468,082,200 | 3,804,000 | 6.03% | Shares |
| STATE STREET CORP | $329,960,597 | 2,681,587 | 4.25% | Shares |
| Route One Investment Company, L.P. | $227,564,240 | 1,849,364 | 2.93% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $160,756,446 | 1,306,030 | 2.07% | Shares |
| VAN ECK ASSOCIATES CORP | $137,219,084 | 1,115,149 | 1.77% | Shares |
| WASATCH ADVISORS LP | $119,870,695 | 801,489 | 1.54% | Shares |
| Artisan Partners Limited Partnership | $119,398,528 | 970,325 | 1.54% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $103,280,418 | 839,337 | 1.33% | Shares |
| JARISLOWSKY, FRASER Ltd | $101,131,963 | 439,972 | 1.30% | Shares |
| Stockbridge Partners LLC | $93,496,712 | 759,827 | 1.20% | Shares |
| BLAIR WILLIAM & CO/IL | $89,381,920 | 726,387 | 1.15% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $89,337,253 | 726,024 | 1.15% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $81,588,303 | 663,050 | 1.05% | Shares |
| BROWN BROTHERS HARRIMAN & CO | $81,045,160 | 658,636 | 1.04% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $74,989,131 | 609,420 | 0.97% | Shares |
| RGM Capital, LLC | $73,920,221 | 367,744 | 0.95% | Shares |
| PARNASSUS INVESTMENTS, LLC | $73,200,353 | 594,883 | 0.94% | Shares |
| Stephens Investment Management Group LLC | $73,024,515 | 593,454 | 0.94% | Shares |
| 1832 Asset Management L.P. | $68,204,892 | 554,286 | 0.88% | Shares |
| Ardmore Road Asset Management LP | $67,677,500 | 550,000 | 0.87% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $66,733,583 | 542,329 | 0.86% | Shares |
| Sculptor Capital LP | $54,941,825 | 446,500 | 0.71% | Shares |
| BANK OF AMERICA CORP /DE/ | $54,546,096 | 443,284 | 0.70% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $53,519,367 | 434,940 | 0.69% | Shares |
| Greenstone Partners & Co., LLC | $49,784,061 | 404,584 | 0.64% | Shares |
| JANUS HENDERSON GROUP PLC | $48,712,739 | 325,707 | 0.63% | Shares |
| Balyasny Asset Management L.P. | $45,771,893 | 371,978 | 0.59% | Shares |
| Rathbones Group PLC | $42,237,158 | 343,252 | 0.54% | Shares |
| Hudson Way Capital Management LLC | $41,096,485 | 333,982 | 0.53% | Shares |
| AMERICAN CAPITAL MANAGEMENT INC | $40,481,358 | 328,983 | 0.52% | Shares |
| Kodai Capital Management LP | $37,295,694 | 199,059 | 0.48% | Shares |
| Quantinno Capital Management LP | $36,884,545 | 299,752 | 0.47% | Shares |
| MAKENA CAPITAL MANAGEMENT LLC | $34,821,181 | 282,984 | 0.45% | Shares |
| RIVERBRIDGE PARTNERS LLC | $32,849,250 | 266,959 | 0.42% | Shares |
| Clearbridge Investments, LLC | $32,253,128 | 262,114 | 0.42% | Shares |
| TWO SIGMA ADVISERS, LP | $32,020,893 | 159,300 | 0.41% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $30,398,272 | 247,040 | 0.39% | Shares |
| Greenstone Partners, L.P. | $28,952,246 | 125,956 | 0.37% | Shares |
| Conestoga Capital Advisors, LLC | $27,608,975 | 224,372 | 0.36% | Shares |
| RHUMBLINE ADVISERS | $27,462,482 | 223,182 | 0.35% | Shares |
| EDMOND DE ROTHSCHILD HOLDING S.A. | $25,461,875 | 206,923 | 0.33% | Shares |
| GOLDMAN SACHS GROUP INC | $25,424,591 | 206,620 | 0.33% | Shares |
| RAYMOND JAMES FINANCIAL INC | $24,213,779 | 196,780 | 0.31% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $24,133,673 | 196,129 | 0.31% | Shares |
| Swiss National Bank | $20,377,080 | 165,600 | 0.26% | Shares |
| D. E. Shaw & Co., Inc. | $20,315,924 | 165,103 | 0.26% | Shares |
| Oakcliff Capital Partners, LP | $19,525,943 | 158,683 | 0.25% | Shares |
| AMERIPRISE FINANCIAL INC | $19,261,863 | 156,534 | 0.25% | Shares |
| NORGES BANK | $18,569,968 | 150,914 | 0.24% | Shares |
| CITADEL ADVISORS LLC | $16,587,140 | 134,800 | 0.21% | Call option |
| Teca Partners, LP | $16,449,939 | 133,685 | 0.21% | Shares |
| BROWN CAPITAL MANAGEMENT LLC | $16,442,310 | 133,623 | 0.21% | Shares |
| CITADEL ADVISORS LLC | $16,286,898 | 132,360 | 0.21% | Shares |
| ALLIANCEBERNSTEIN L.P. | $16,058,706 | 107,373 | 0.21% | Shares |
| Anabranch Capital Management, LP | $15,959,216 | 129,697 | 0.21% | Shares |
| BlackRock, Inc. | $15,699,211 | 127,584 | 0.20% | Shares |
| Trexquant Investment LP | $15,664,634 | 127,303 | 0.20% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $15,381,000 | 124,998 | 0.20% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $14,930,581 | 121,342 | 0.19% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $14,685,446 | 98,191 | 0.19% | Shares |
| TWO SIGMA INVESTMENTS, LP | $14,596,314 | 118,621 | 0.19% | Shares |
| Assenagon Asset Management S.A. | $14,103,745 | 114,618 | 0.18% | Shares |
| Shannon River Fund Management LLC | $13,932,952 | 113,230 | 0.18% | Shares |
| California Public Employees Retirement System | $12,972,177 | 105,422 | 0.17% | Shares |
| JANE STREET GROUP, LLC | $12,692,484 | 103,149 | 0.16% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $12,410,823 | 100,860 | 0.16% | Shares |
| Gavilan Investment Partners LLC | $11,689,750 | 95,000 | 0.15% | Shares |
| NOMURA HOLDINGS INC | $11,594,386 | 94,225 | 0.15% | Shares |
| Congress Wealth Management LLC / DE / | $11,326,084 | 48,104 | 0.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $11,320,600 | 92,000 | 0.15% | Call option |
| Walleye Capital LLC | $11,215,023 | 91,142 | 0.14% | Shares |
| MARSHALL WACE, LLP | $10,976,183 | 89,201 | 0.14% | Shares |
| Corient Private Wealth LP | $10,821,309 | 87,943 | 0.14% | Shares |
| Retirement Systems of Alabama | $10,774,012 | 87,558 | 0.14% | Shares |
| Weiss Asset Management LP | $10,743,496 | 87,310 | 0.14% | Shares |
| FRED ALGER MANAGEMENT, LLC | $10,708,918 | 87,029 | 0.14% | Shares |
| FMR LLC | $10,641,016 | 86,477 | 0.14% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $10,557,690 | 85,800 | 0.14% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $10,198,999 | 82,885 | 0.13% | Shares |
| Night Owl Capital Management, LLC | $10,191,616 | 82,825 | 0.13% | Shares |
| Cubist Systematic Strategies, LLC | $9,883,980 | 43,000 | 0.13% | Put option |
| TD Asset Management Inc | $9,794,534 | 79,598 | 0.13% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $9,782,475 | 79,500 | 0.13% | Put option |
| Allianz Asset Management GmbH | $9,595,171 | 64,156 | 0.12% | Shares |
| FIFTH THIRD BANCORP | $9,536,223 | 77,498 | 0.12% | Shares |
| Swedbank AB | $9,487,155 | 77,100 | 0.12% | Shares |
| WHITTIER TRUST CO | $9,329,015 | 67,803 | 0.12% | Shares |
| OBERNDORF WILLIAM E | $8,859,231 | 71,997 | 0.11% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $8,748,117 | 71,094 | 0.11% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $8,747,291 | 71,087 | 0.11% | Shares |
| Jump Financial, LLC | $8,698,897 | 70,694 | 0.11% | Shares |
| Marble Harbor Investment Counsel, LLC | $8,695,574 | 70,667 | 0.11% | Shares |
| Squarepoint Ops LLC | $8,642,294 | 70,234 | 0.11% | Shares |
| WESTERLY CAPITAL MANAGEMENT, LLC | $8,613,500 | 70,000 | 0.11% | Shares |
| CHURCHILL MANAGEMENT Corp | $8,511,047 | 36,148 | 0.11% | Shares |
| Kemnay Advisory Services Inc. | $8,203,989 | 66,672 | 0.11% | Shares |
Company insiders 29 insiders · 10 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jeffrey Elliott Cooper | Chief Financial Officer | June 22, 2026 S | 62,119 | 0 | 2 | $-450,455 |
| John P Mullen | President | June 16, 2026 S | 131,115 | 0 | 1 | $-509,632 |
| Priscilla Hung | PRESIDENT & COO | June 15, 2021 M | 10,120 | 0 | 0 | $0 |
| James Winston King | Chief Admin Officer, Gen Couns | July 9, 2026 S | 30,018 | 0 | 2 | $-338,619 |
| David Franklin Peterson | Chief Accounting Officer | June 16, 2026 S | 12,287 | 0 | 1 | $-29,210 |
| Frank E Odowd JR | Chief Sales Officer | June 15, 2021 M | 14,962 | 0 | 0 | $0 |
| Michael Polelle | Chief Delivery Officer | June 15, 2021 M | 5,060 | 0 | 0 | $0 |
| Alexander C Naddaff | VP, Professional Services | Sept. 12, 2013 M | 0 | 0 | 0 | $0 |
| Jeremy Henrickson | VP, Product Development | June 15, 2013 M | 12,494 | 0 | 0 | $0 |
| John True | SVP Field Operations | March 15, 2013 M | 6,457 | 0 | 0 | $0 |
| Michael C Keller | Director | Dec. 15, 2025 A | 10,606 | 0 | 0 | $0 |
| Marcus Ryu | Director | June 15, 2021 M | 23,300 | 0 | 0 | $0 |
| Margaret Dillon | Director | Sept. 6, 2019 A | 492 | 0 | 0 | $0 |
| CAVOORES JOHN PAUL | Director | Dec. 3, 2015 A | 20,659 | 0 | 0 | $0 |
| Paul Lavin | Director | March 10, 2014 A | 1,058 | 0 | 0 | $0 |
| Neal Dempsey | Director | Sept. 6, 2013 S | 80,631 | 0 | 0 | $0 |
| Kenneth W Branson | Director | March 5, 2013 S | 921,532 | 0 | 0 | $0 |
| Stuart G Phillips | 10% owner | Nov. 29, 2012 J | 71,117 | 0 | 0 | $0 |
| Michael George Rosenbaum | — | Aug. 17, 2026 S | 188,976 | 0 | 13 | $-2,740,030 |
| Karl Alexander Vollert | — | Aug. 12, 2026 A | 578 | 0 | 0 | $0 |
| Catherine P Lego | — | Dec. 15, 2025 A | 14,393 | 0 | 0 | $0 |
| Guy Dubois | — | Dec. 6, 2019 S | 10,970 | 0 | 0 | $0 |
| Clifton Thomas Weatherford | — | Sept. 19, 2019 S | 14,341 | 0 | 0 | $0 |
| Craig Conway | — | Dec. 17, 2018 M | 11,103 | 0 | 0 | $0 |
| Scott Roza | — | Aug. 15, 2017 M | 800 | 0 | 0 | $0 |
| Richard Hart | — | March 5, 2015 A | — | 0 | 0 | $0 |
| Karen Blasing | — | March 5, 2015 M | 0 | 0 | 0 | $0 |
| Craig Ramsey | — | Dec. 5, 2013 A | 338,271 | 0 | 0 | $0 |
| Steven M Krausz | — | April 24, 2012 S | 43,843 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 90 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| TMFM · RBB Fund, Inc. | 4.66% | 35,596 NS | May 31, 2026 | N-PORT |
| FINX · Global X Funds | 2.30% | 29,442 NS | May 31, 2026 | N-PORT |
| GURU · Global X Funds | 1.18% | 4,959 NS | April 30, 2026 | N-PORT |
| DTEC · ALPS ETF Trust | 0.86% | 4,215 NS | May 31, 2026 | N-PORT |
| IJK · iShares Trust | 0.72% | 494,770 SH | Aug. 8, 2026 | Daily |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.55% | 83,533 SH | Aug. 8, 2026 | Daily |
| MIDE · DBX ETF Trust | 0.52% | 114 NS | May 29, 2026 | N-PORT |
| IGV · iShares Trust | 0.47% | 413,117 SH | Aug. 8, 2026 | Daily |
| SMIZ · Zacks Trust | 0.45% | 7,559 NS | May 31, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.43% | 9,838 NS | April 30, 2026 | N-PORT |
| RFG · Invesco Exchange-Traded Fund Trust | 0.43% | 8,982 SH | Aug. 8, 2026 | Daily |
| XJH · iShares Trust | 0.43% | 11,451 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.41% | 25,490 SH | Aug. 8, 2026 | Daily |
| NUSC · Nushares ETF Trust | 0.40% | 37,377 NS | April 30, 2026 | N-PORT |
| IJH · iShares Trust | 0.37% | 2,920,867 SH | Aug. 8, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.34% | 9,753 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.34% | 16,947 NS | May 31, 2026 | N-PORT |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.31% | 1,064 NS | May 31, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.29% | 13,019 NS | April 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.29% | 1,122,456 SH | Aug. 8, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.29% | 136,859 SH | Aug. 8, 2026 | Daily |
| MVV · ProShares Trust | 0.28% | 2,939 NS | May 31, 2026 | N-PORT |
| SMMV · iShares Trust | 0.25% | 4,471 SH | Aug. 8, 2026 | Daily |
| ESML · iShares Trust | 0.24% | 43,529 SH | Aug. 8, 2026 | Daily |
| SCHM · SCHWAB STRATEGIC TRUST | 0.24% | 229,794 NS | May 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.23% | 1,409 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.23% | 33,766 NS | April 30, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.23% | 38,286 SH | Aug. 8, 2026 | Daily |
| JSTC · Tidal Trust I | 0.23% | 4,960 NS | May 31, 2026 | N-PORT |
| IWP · iShares Trust | 0.20% | 255,565 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.20% | 3,612 SH | Aug. 8, 2026 | Daily |
| UMDD · ProShares Trust | 0.20% | 410 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.18% | 1,669 NS | April 30, 2026 | N-PORT |
| QGRO · AMERICAN CENTURY ETF TRUST | 0.18% | 26,466 NS | May 31, 2026 | N-PORT |
| SMMD · iShares Trust | 0.18% | 42,136 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.12% | 971,619 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.12% | 1,937,326 SH | Aug. 8, 2026 | Daily |
| ESUM · Strategy Shares | 0.11% | 1,235 NS | April 30, 2026 | N-PORT |
| GEW · EA Series Trust | 0.11% | 996 NS | May 29, 2026 | N-PORT |
| SMLF · iShares Trust | 0.11% | 28,441 SH | Aug. 8, 2026 | Daily |
| IWR · iShares Trust | 0.10% | 343,326 SH | Aug. 8, 2026 | Daily |
| FTEC · FIDELITY COVINGTON TRUST | 0.09% | 121,144 NS | April 30, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.09% | 4,529 SH | Aug. 8, 2026 | Daily |
| TECB · iShares Trust | 0.09% | 2,742 SH | Aug. 8, 2026 | Daily |
| RILA · Spinnaker ETF Series | 0.09% | 261 NS | April 30, 2026 | N-PORT |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.08% | 6,481 SH | Aug. 8, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.07% | 948,817 SH | Aug. 8, 2026 | Daily |
| IYW · iShares Trust | 0.07% | 105,195 SH | Aug. 8, 2026 | Daily |
| FNDA · SCHWAB STRATEGIC TRUST | 0.07% | 38,570 NS | May 31, 2026 | N-PORT |
| IWS · iShares Trust | 0.06% | 60,467 SH | Aug. 8, 2026 | Daily |