Cimpress plc (NASDAQ:CMPR) executive Florian Baumgartner, who serves as the EVP and CEO of Vista, has sold a total of 4,035 company shares, according to a recent filing with the SEC. The shares were sold on June 17, 2024, for a total value exceeding $328,000.
The transactions were carried out in two separate sales, with 3,284 shares sold at prices ranging from $80.885 to $81.88, and 751 shares sold at prices between $81.96 and $82.655. Following these sales, Baumgartner's remaining stake in the company consists of 23,584 ordinary shares.
It was noted in the filing that the sales were executed in accordance with a pre-arranged 10b5-1 trading plan, which Baumgartner had adopted on December 14, 2023. Such trading plans allow company insiders to sell shares over a predetermined period of time, reducing the potential for any accusations of trading on non-public, material information.
Investors often monitor insider transactions as they can provide insights into an executive's perspective on the company's current valuation and future prospects. However, it is not uncommon for executives to sell shares for reasons that may not necessarily relate to the company's performance, such as diversifying their investment portfolio or financing personal expenses.
Cimpress, known for its commercial printing services, has undergone several name changes in its history, previously known as Vistaprint N.V. and Vistaprint Ltd. The company is incorporated in Ireland, with a business address in Dundalk, County Louth, and maintains a mailing address in Waltham, Massachusetts.
In other recent news, Cimpress N.V. has reported a strong performance in its Q3 of 2024, with both revenue and adjusted EBITDA seeing growth. The company's consolidated revenue increased by 5% on a reported basis and 4% on an organic constant currency basis. Adjusted EBITDA also rose significantly, increasing by $25 million to reach $94 million.
Cimpress has also provided multiyear guidance for FY2025, expecting mid-single-digit organic constant currency revenue growth and slightly faster growth in adjusted EBITDA. Alongside this, the company has announced plans for a higher CapEx for new product introductions and efficiency improvements.
In terms of recent developments, the company repurchased 1.3 million shares for $120 million and targets a net leverage of 2.5x or below. Despite challenges in the home decor and real estate sectors, Cimpress remains optimistic about its future growth and operational execution. These are all recent developments that investors should keep on their radar.
InvestingPro Insights
As Cimpress plc (NASDAQ:CMPR) navigates the market, recent data from InvestingPro provides a snapshot of the company's financial health and stock performance. With a market capitalization of $2.12 billion and a P/E ratio standing at 24.92, Cimpress reflects a valuation that aligns with its earnings. Notably, the company's adjusted P/E ratio for the last twelve months as of Q3 2024 has seen a slight decrease to 24.64, suggesting a stable earnings outlook.
The gross profit margin is particularly impressive, with Cimpress achieving 48.29% in the same period. This indicates a robust ability to control costs and maximize profit from sales, a key factor that investors often look for in a company's financial statements. Additionally, Cimpress has experienced a revenue growth of 7.78% over the last twelve months as of Q3 2024, demonstrating its capacity to expand its business operations effectively.
An InvestingPro Tip worth noting is that Cimpress has been aggressively buying back shares, which can be a signal of management's confidence in the company's value and future prospects. Moreover, Cimpress has been recognized for its high shareholder yield, which encompasses buybacks and other returns to investors. These strategic financial decisions could be particularly relevant for shareholders evaluating the company's commitment to maximizing shareholder value.
For those interested in a deeper dive into Cimpress's financial details and stock performance, InvestingPro offers additional insights. With the use of coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a wealth of information, including 6 more InvestingPro Tips for Cimpress. Visit https://www.investing.com/pro/CMPR to explore these valuable resources.
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