Breaking News: Cimpress CEO Robert S. Keane Sells $7 Million Worth of Company Stock - What Does This Mean for Investors?
Cimpress plc (NASDAQ:) CEO Robert S. Keane has recently sold over $7 million worth of company stock. The transactions, which took place on August 29th and 30th, involved the sale of Cimpress ordinary shares at varying prices.
According to the latest filings, Keane sold a total of 24,912 shares at prices ranging from $98.195 to $101.9828 per share. The total value of the shares sold amounted to approximately $7,051,345. Despite these sales, Keane still holds a substantial interest in the company through various holdings.
These sales were disclosed in compliance with SEC regulations, providing transparency for investors and the market. In other news, Cimpress reported positive financial results for fiscal year 2024, with growth in revenue and adjusted EBITDA.
Looking ahead, Cimpress plans to increase capital expenditures and expects growth in organic revenue and adjusted EBITDA. The company will provide more details on their strategic progress during an upcoming Virtual Investor Day in September.
Investors should consider Cimpress's financial health and market performance, as the company boasts a strong gross profit margin and a commitment to enhancing shareholder value through share buybacks. The stock's valuation suggests it may be reasonably priced, but investors should note that the company does not pay a dividend.
For more insights and analysis, visit InvestingPro for a comprehensive look at Cimpress plc and make more informed investment decisions.
