Switch (NYSE:SWCH) had its price objective lifted by Credit Suisse Group from $19.00 to $21.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s price target suggests a potential upside of 23.09% from the stock’s current price.

Separately, Zacks Investment Research downgraded shares of Switch from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th.

Shares of NYSE:SWCH opened at $17.06 on Wednesday. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 189.56, a price-to-earnings-growth ratio of 5.60 and a beta of 0.48. The company has a 50-day moving average price of $15.81 and a 200-day moving average price of $15.42. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.98. Switch has a 12 month low of $7.95 and a 12 month high of $17.74.

In related news, major shareholder Peter M. Thomas sold 50,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.18, for a total value of $809,000.00. Following the completion of the transaction, the insider now directly owns 900,500 shares of the company’s stock, valued at $14,570,090. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas A. Thomas sold 30,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $15.40, for a total transaction of $462,000.00. Following the completion of the transaction, the director now directly owns 954,135 shares of the company’s stock, valued at $14,693,679. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 352,933 shares of company stock valued at $5,674,456. Insiders own 28.39% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc bought a new position in Switch in the third quarter worth about $35,000. Great West Life Assurance Co. Can raised its stake in Switch by 82.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 3,684 shares of the company’s stock worth $54,000 after buying an additional 1,668 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in Switch by 56.1% in the third quarter. Metropolitan Life Insurance Co NY now owns 4,320 shares of the company’s stock worth $67,000 after buying an additional 1,553 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Switch in the fourth quarter worth about $69,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Switch by 175.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,920 shares of the company’s stock worth $77,000 after buying an additional 3,131 shares in the last quarter. 24.07% of the stock is owned by institutional investors.

Switch Company Profile

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services primarily to technology and digital media companies in the United States. It develops and operates data centers in Nevada and Michigan. The company also serves cloud and managed service providers, financial institutions, IT and software providers, government agencies, network and telecommunications providers, and others that conduct critical business on the Internet.

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