Insider Selling: Simulations Plus, Inc. (SLP) Insider Sells $302,845.00 in Stock
Simulations Plus, Inc. (NASDAQ:SLP) insider Walter S. Woltosz sold 18,500 shares of Simulations Plus stock in a transaction dated Saturday, October 28th. The shares were sold at an average price of $16.37, for a total value of $302,845.00. Following the completion of the transaction, the insider now owns 5,629,416 shares of the company’s stock, valued at approximately $92,153,539.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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A number of hedge funds and other institutional investors have recently bought and sold shares of SLP. The Manufacturers Life Insurance Company raised its holdings in Simulations Plus by 13.8% during the second quarter. The Manufacturers Life Insurance Company now owns 8,923 shares of the technology company’s stock worth $110,000 after purchasing an additional 1,085 shares in the last quarter. Rhumbline Advisers purchased a new position in Simulations Plus in the second quarter valued at about $126,000. OxFORD Asset Management LLP purchased a new position in Simulations Plus in the second quarter valued at about $126,000. New York State Common Retirement Fund purchased a new position in Simulations Plus in the second quarter valued at about $143,000. Finally, KCG Holdings Inc. purchased a new position in Simulations Plus in the first quarter valued at about $152,000. 32.13% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on SLP shares. Zacks Investment Research upgraded Simulations Plus from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Tuesday, July 25th. BidaskClub cut Simulations Plus from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st.
About Simulations Plus
Simulations Plus, Inc (Simulations Plus) develops and produces software for use in pharmaceutical research and for education, and provides consulting and contract research services to the pharmaceutical industry. The Company offers five software products for pharmaceutical research. ADMET (Absorption, Distribution, Metabolism, Excretion and Toxicity) Predictor is a computer program that takes molecular structures as inputs and predicts over 140 different properties for them at the rate of about 200,000 compounds per hour.
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