MINNEAPOLIS—Sabzivand Amin, Chief Operating Officer of Sezzle Inc. (NASDAQ:SEZL), recently sold 1,500 shares of the company's common stock. The transaction, which took place on October 14, 2024, was executed at a price of $187 per share, totaling $280,500. Following this sale, Amin retains ownership of 48,360 shares in the company.
Sezzle Inc., headquartered in Minneapolis, operates in the business services sector. The transaction was filed with the Securities and Exchange Commission on October 15, 2024.
In other recent news, Sezzle Inc. has made strategic updates to its partnerships and credit agreements, including amendments with WebBank and adjustments to its credit arrangements to support its product offerings. These changes enhance Sezzle's role in issuing its subscription products, Sezzle Anywhere and Sezzle Premium, while WebBank continues as the exclusive originator and financier of Sezzle's installment products. Sezzle Funding SPE II, a subsidiary of Sezzle, and its lenders have also modified their Revolving Credit and Security Agreement to accommodate the purchase of loans from WebBank under the new partnership terms.
In addition, Sezzle has seen significant board changes, with Michael Cutter and Paul Alan Lahiff stepping down, and Stephen F. East and Kyle M. Brehm joining the board. Both new appointees meet NASDAQ's independence and financial expertise requirements.
Sezzle's financial performance has been impressive, maintaining profitability since 2023, driven by robust sales from its 0% APR point-of-sale financing. B. Riley initiated coverage on the company with a Buy rating, highlighting its high growth potential at a low marginal cost, leading to significant margin expansion. These are among the recent developments at Sezzle Inc.
InvestingPro Insights
Sezzle Inc. (NASDAQ:SEZL) has been experiencing a remarkable upward trajectory, as evidenced by its recent stock performance and financial metrics. According to InvestingPro data, the company's stock has shown a staggering 1,706.06% price total return over the past year, with a 119.3% return in just the last three months. This aligns with the InvestingPro Tip that Sezzle has seen a "Significant return over the last week" and is "Trading near 52-week high."
The company's financial health appears robust, with revenue growth of 39.33% in the last twelve months as of Q2 2024, and an impressive quarterly revenue growth of 60.2% in Q2 2024. This strong performance is reflected in the InvestingPro Tip suggesting that "Net income is expected to grow this year."
Sezzle's profitability metrics are also noteworthy, with a gross profit margin of 52.21% and an operating income margin of 39.45% for the last twelve months. The company's P/E ratio (adjusted) stands at 15.91, indicating that investors are willing to pay a premium for Sezzle's earnings potential.
It's worth noting that while COO Sabzivand Amin's recent stock sale might raise questions, it's not uncommon for executives to sell shares for personal financial planning. The company's strong financial performance and market position suggest that this transaction may not be indicative of any underlying concerns.
For investors seeking a deeper understanding of Sezzle's potential, InvestingPro offers 13 additional tips, providing a comprehensive view of the company's financial health and market position.
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