David Taylor Lauber, President and Chief Strategy Officer of Shift4 Payments, Inc. (NYSE:FOUR), a $10.2 billion payment processing company that has seen its stock surge nearly 70% over the past six months, recently sold a portion of his holdings in the company. According to a recent SEC filing, Lauber sold 5,000 shares of Class A Common Stock for a total of $568,546. The shares were sold at a weighted average price of $113.7092, with individual transactions ranging from $113.0022 to $113.8962. Following this transaction, Lauber retains ownership of 210,045 shares. This sale was conducted under a Rule 10b5-1 trading plan, a prearranged plan that allows insiders to trade a predetermined number of shares at set times. The stock is currently trading near its 52-week high of $116.84, with InvestingPro data showing the company maintains a "GREAT" financial health score. Want deeper insights into insider trading patterns and 15+ additional ProTips? Explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Shift4 Payments has reported a significant 51% year-over-year increase in EBITDA and a 50% growth in net revenue for Q3. This robust performance has led to adjustments in financial guidance from DA Davidson, Piper Sandler, and RBC Capital Markets. DA Davidson upgraded its price target for Shift4 Payments to $126, maintaining a Buy rating, while Piper Sandler and RBC Capital Markets raised their targets to $120 and $116, respectively, both keeping their positive ratings.
These revisions follow the company's impressive Q3 results, which include a record-breaking EBITDA of $187.4 million and an adjusted free cash flow of $111 million, marking a 46% increase year-over-year. Shift4 Payments also reported a growth in payment volume backlog to $33 billion, reflecting potential for future growth.
In addition to financial performance, Shift4 Payments has been expanding its operations internationally. The company has launched operations in four new African countries and plans further expansion into LATAM and Australia/New Zealand by 2025. However, the company anticipates falling short of its goal to reach 10,000 international restaurants and hotels by 2024. These are recent developments in the company's performance and strategy.
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