Guidewire Software is trading 4.7% down at $133.76. - The decline follows recent insider selling by CEO Michael Rosenbaum on July 13, 2026. - Investors continue to digest cautious annual recurring revenue (ARR) guidance from the fiscal third-quarter 2026 results reported on June 4, 2026, which has led to analyst price target adjustments. - The broader software sector also faces pressure.