David Gandler, the Chief Executive Officer of fuboTV Inc. (NYSE:FUBO), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Gandler sold 1,649,442 shares of common stock on January 7, 2025. The shares were sold at a weighted average price of $5.528 per share, resulting in a total transaction value of approximately $9.1 million. The sale comes as FUBO’s stock has shown remarkable momentum, with InvestingPro data showing a 325% return over the past six months, though technical indicators suggest the stock is currently overbought.
The filing also detailed that these sales were conducted under a Rule 10b5-1 trading plan, which was adopted on March 29, 2024. This type of plan allows company insiders to set up a predetermined schedule for selling stocks, helping to avoid any potential allegations of insider trading. According to InvestingPro, which offers comprehensive insider trading analysis among its 16+ exclusive tips for FUBO, the company currently maintains a moderate debt level with a market capitalization of $1.7 billion.
In addition to the sales, Gandler exercised stock options to acquire 726,675 shares at $0.49 per share and 872,767 shares at $1.99 per share, totaling approximately $2.1 million. Following these transactions, Gandler now directly owns 296,817 shares of fuboTV.
These transactions provide a glimpse into the trading activities of fuboTV’s top executive as the company continues to navigate a competitive streaming market.
In other recent news, FuboTV (NYSE:FUBO) Inc. has been making significant strides in the streaming industry. The company reported a 21% year-over-year growth in total revenue for Q3 2024, reaching $377 million, and a 9% rise in paid subscribers, totaling 1.613 million. Despite these gains, FuboTV experienced an 11% decline in advertising revenue due to challenging year-over-year comparisons.
In a major development, FuboTV is reportedly merging its online live TV operations with Walt Disney (NYSE:DIS) Co. The proposed merger, which will see Disney owning 70% of the new entity, does not include Hulu’s subscription video service. If successful, the combined services would become the second-largest digital pay-TV provider.
FuboTV also announced an expansion of its offerings with 18 NBCUniversal channels and introduced new interactive Connected TV ad formats aimed at enhancing audience engagement. Furthermore, FuboTV provided Q4 2024 North America subscriber projections between 1.665 million and 1.705 million, with revenue guidance ranging from $426 million to $446 million. These developments highlight FuboTV’s resilience and adaptability in the fast-paced streaming industry.
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