Celsius Holdings , Inc. (NASDAQ:CELH) CEO John Fieldly has executed significant transactions in the company’s stock, according to recent filings. On two consecutive days, Fieldly sold a total of 626,268 shares of common stock, bringing in over $21 million for the shares sold.
The sales took place on September 12 and 13, with the prices of the shares ranging from $32.80 to $34.36. These transactions were reported as weighted average prices, indicating that the shares were sold in multiple transactions at varying prices within the stated ranges. The filings noted that a portion of the shares was sold to cover tax liabilities and the costs associated with exercising options.
In addition to the sales, Fieldly also acquired a substantial number of shares through the exercise of stock options on the same dates. The total value of shares acquired through these option exercises amounted to approximately $2.6 million, with the exercise prices ranging from $1.16 to $14.21 per share.
Following these transactions, Fieldly's ownership in the company has changed significantly, though he still retains a large number of shares. Celsius Holdings, a company specializing in bottled and canned soft drinks and carbonated waters, has not commented on these transactions.
Investors often track insider buying and selling as it can provide insights into how executives perceive the company's value and prospects. The recent activity by Celsius Holdings’ CEO will likely be of interest to current and potential shareholders as they assess their investment in the company.
In other recent news, Celsius Holdings has had its earnings and revenue estimates revised by multiple financial firms. Truist Securities adjusted its outlook for Celsius, reducing its price target to $30 from $45, following an announcement of a significant inventory reduction by PepsiCo (NASDAQ:PEP). This inventory destock, amounting to $100-$120 million, is expected to impact Celsius's sales and EBITDA significantly for both the third quarter and the full year of 2024.
Similarly, Piper Sandler maintained an Overweight rating on shares of Celsius Holdings but reduced the price target to $50 from $65 due to a challenging environment with slower momentum in the US energy category and operational headwinds. Jefferies also adjusted the price target for shares of Celsius Holdings, bringing it down to $53.00 from the previous $68.00, while keeping a Buy rating on the stock.
Roth/MKM and BofA Securities have also adjusted their price targets for Celsius in response to these developments. Despite these challenges, Celsius reported a 23% increase in total revenue, setting a record at $402 million, and a 30% rise in international revenue to $19.6 million. These are the recent developments for Celsius Holdings, which continues to navigate the financial landscape amidst industry challenges.
InvestingPro Insights
Celsius Holdings, Inc. (NASDAQ:CELH) CEO John Fieldly's recent sale of company stock has coincided with a period of notable volatility for the company's shares. According to InvestingPro data, Celsius Holdings is currently trading near its 52-week low, with a price of $33.69 at the previous close. This reflects a significant drop over the last six months, with the stock down by 63.74% in that timeframe. Despite the recent declines, the company still maintains a robust market capitalization of $7.74 billion.
InvestingPro Tips suggest that while the stock has experienced a downturn, it holds more cash than debt on its balance sheet, which could be a sign of financial stability. Additionally, the company's liquid assets exceed its short-term obligations, indicating a strong liquidity position. For investors considering the company's valuation, Celsius Holdings is trading at a low P/E ratio of 31.77 relative to its near-term earnings growth, which might appeal to value investors seeking growth potential.
For those looking to delve deeper into Celsius Holdings' financial health and stock performance, InvestingPro offers additional tips. Currently, there are 17 InvestingPro Tips available that provide further insights into the company's valuation metrics, analyst predictions, and historical returns. These tips can be accessed by visiting https://www.investing.com/pro/CELH.
Investors and potential shareholders of Celsius Holdings may find these insights particularly valuable as they consider the implications of the CEO's stock transactions and assess the company's future prospects.
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