AutoZone Inc's (NYSE:AZO) Executive Chairman, William C. Rhodes III, has sold shares worth over $38 million, according to recent filings. The transactions, which took place on March 25 and 26, involved the sale of common stock at prices ranging from $3,170.30 to $3,215.14.
Rhodes executed multiple sales totaling approximately $38,436,485. The sales were conducted at weighted average prices, with individual transactions grouped within narrow price ranges. For example, sales represented by footnote F1 in the filing were executed at prices between $3,206.26 and $3,207.12 per share. The detailed footnotes provided in the filing commit to offering full information on the number of shares sold at each specific price upon request.
In addition to the sales, the SEC filing also revealed that Rhodes acquired shares through the exercise of options, with a total transaction value of $12,073,297. These acquisitions were made at prices between $587.13 and $744.85 per share.
These transactions reflect the latest stock activities of AutoZone's Executive Chairman, offering investors and the market insights into executive movements within the company. Rhodes' role as both a director and officer of the company, combined with his title of Executive Chairman, positions him as a key figure in AutoZone's leadership.
Investors and the public can access the full details of these transactions through the SEC's filing system, which provides transparency into the trading activities of company insiders. The transactions are part of the routine financial disclosures required by executives and directors of publicly traded companies.
InvestingPro Insights
AutoZone Inc's (NYSE:AZO) recent insider trading activity may draw investor attention to the company's stock performance and financial health. According to InvestingPro data, AutoZone boasts a market capitalization of $55.3 billion, reflecting its substantial presence in the auto parts industry. The company's P/E ratio stands at 21.72 with a slight adjustment to 21.1 when looking at the last twelve months as of Q2 2024, indicating investors' valuation of its earnings.
One of the most notable InvestingPro Tips is that management has been aggressively buying back shares, which can be a signal of the company's confidence in its future performance and a potential catalyst for share price appreciation. Additionally, AutoZone has been trading near its 52-week high, with the price at the previous close being $3,170.82, which is 97.37% of the 52-week high. This suggests a strong market sentiment towards the company.
Investors considering AutoZone's stock may also be interested in the company's revenue growth, which has been positive with a 5.57% increase over the last twelve months as of Q2 2024. This growth is a testament to AutoZone's ability to expand its sales amidst competitive and economic challenges.
For those looking for more in-depth analysis, there are additional InvestingPro Tips available, such as the company's moderate level of debt and the fact that analysts predict AutoZone will be profitable this year. With a total of 12 additional tips listed on InvestingPro, investors can gain a more comprehensive understanding of AutoZone's financial position and market potential. To access these insights, visit https://www.investing.com/pro/AZO and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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