Thomas Deitrich, President and CEO of Itron, Inc. (NASDAQ:ITRI), a $4.97 billion market cap company whose stock has surged 54% over the past year, recently sold shares of the company's common stock valued at $325,264. The sale involved 2,954 shares at a weighted average price of $110.11 per share. These shares were sold under a Rule 10b5-1 trading plan, which Deitrich had adopted on May 6, 2024. Following this transaction, Deitrich holds 204,393 shares directly.
Additionally, on the same day, Deitrich exercised stock options to acquire 2,954 shares at $35.13 each, totaling $103,774. These options were part of a plan also adopted under Rule 10b5-1. The exercise of these options leaves Deitrich with 34,787 shares directly owned.
In other recent news, Itron, a technology company, has been demonstrating strong financial performance. The company reported a 10% increase in revenue year-over-year, reaching $615 million, with an adjusted EBITDA of $89 million and non-GAAP earnings per share of $1.84. Itron's backlog has grown to $4 billion, with bookings of $487 million. The company also projects its full-year revenue to be between $2.428 billion and $2.438 billion, marking a 12% increase from the previous year. Canaccord Genuity and Baird have both expressed confidence in Itron, with Canaccord raising its price target to $130 and Baird maintaining an Outperform rating. These recent developments highlight Itron's potential for continued growth and profitability.
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