Gap Inc. CEO Chris Blakeslee sells $332,500 in company stock

Published 19/03/2025, 02:22
Gap Inc. CEO Chris Blakeslee sells $332,500 in company stock

SAN FRANCISCO—Chris Blakeslee, President and CEO of Athleta, a division of Gap Inc. (NYSE:GAP), recently executed a significant stock sale, according to a recent SEC filing. The transaction comes as Gap shares trade near their 52-week low of $18.54, with InvestingPro data showing the stock has declined over 8% in the past week alone. The transaction involved the sale of 16,980 shares of Gap Inc. common stock at an average price of $19.5819 per share, amounting to a total of approximately $332,500. This transaction was carried out under a pre-determined Rule 10b5-1 trading plan, which Blakeslee adopted in September 2024. Despite recent price volatility, Gap maintains solid fundamentals with an overall "GOOD" financial health score according to InvestingPro analysis.

In addition to the stock sale, Blakeslee also engaged in other stock transactions. He exercised options to acquire 16,041 shares of common stock at no cost and disposed of 5,739 shares to cover tax obligations at $20.1 per share, totaling approximately $115,353. Following these transactions, Blakeslee holds a total of 82,341.476 shares directly.

These actions reflect ongoing portfolio management by Blakeslee as he continues to oversee operations at Athleta, while maintaining a significant stake in Gap Inc.

In other recent news, Gap Inc. reported a strong fourth-quarter performance, with earnings per share (EPS) reaching $0.54, exceeding expectations of $0.38. The company’s revenues for the quarter were $4.15 billion, surpassing estimates by $79 million. Analyst firm Evercore ISI maintained an Outperform rating on Gap, setting a price target of $30, while CFRA upgraded the stock to Strong Buy and also set a $30 target. BMO Capital Markets, however, kept its Market Perform rating with a $25 target, noting Gap’s solid earnings beat and EBIT growth forecast for FY25.

Gap’s recent financial results showed improvements across its brands, except for Athleta, which did not meet expectations. The company’s gross margin improved by 250 basis points year-over-year to 41.3%, attributed to decreased commodity and rent costs. Looking forward, Gap has projected revenue growth of 1% to 2% and an operating margin between 8% and 10%. Evercore ISI highlighted Gap’s successful marketing strategies and partnerships with celebrities like Timothée Chalamet, which have boosted brand visibility.

The company also announced updates to its incentive plans for employees and directors to align their interests with those of shareholders. These developments reflect Gap’s strategic efforts to enhance its brand appeal and operational efficiency, which analysts view as steps toward sustainable growth.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.