Galai Yaron, Co-Founder and Board Chair of Outbrain Inc. (NASDAQ:OB), recently sold 50,000 shares of the company's common stock. The transaction, which took place on December 17, 2024, was executed under a Rule 10b5-1 trading plan that Yaron adopted on November 14, 2023. The timing is notable as Outbrain's stock has shown remarkable strength, gaining over 84% in the past year and trading near its 52-week high of $7.70. The shares were sold at a weighted average price of $7.4775, resulting in a total value of approximately $373,875. Following this sale, Yaron holds 3,457,521 shares directly. The shares were sold in multiple transactions with prices ranging from $7.45 to $7.54. According to InvestingPro analysis, the stock appears to be trading near its Fair Value, with technical indicators suggesting overbought conditions. InvestingPro subscribers have access to 19 additional key insights and a comprehensive Pro Research Report for deeper analysis of Outbrain's valuation and prospects.
In other recent news, Outbrain Inc. is moving forward with its acquisition of Teads, a global media platform, with the transaction expected to close in the first quarter of 2025. This strategic move is anticipated to expand Outbrain's product offerings and drive growth. The deal has received all necessary approvals, except for one from the United Kingdom (TADAWUL:4280). Needham, a financial services firm, has increased Outbrain's price target from $6.00 to $9.00, maintaining a Buy rating on the stock. The firm believes the acquisition will provide significant benefits to Outbrain, including $30 million in cost synergies within the first 24 months post-closing. Meanwhile, Citi has adjusted its outlook on Outbrain, reducing the price target to $5.30 from $5.50 but maintaining a Neutral rating. Outbrain's Q3 ex-TAC gross profit is expected to range between $58 million to $62 million, and adjusted EBITDA to fall between $8 million to $10.5 million.
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