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SAN FRANCISCO—Mark Breitbard, President and CEO of Gap Brand, has disclosed recent transactions involving the company’s stock, according to a filing with the Securities and Exchange Commission. The disclosure comes as Gap trades near its 52-week low of $18.54, with the stock down approximately 18% year-to-date.
Breitbard sold a total of 11,123 shares of Gap Inc. (NYSE:GAP) common stock over two days, resulting in a total transaction value of approximately $221,064. The shares were sold at prices ranging from $19.5796 to $20.004 per share. The sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks. According to InvestingPro data, Gap maintains strong financial health with liquid assets exceeding short-term obligations and a current ratio of 1.6.
Additionally, Breitbard exercised 17,275 shares of restricted stock units at no cost, which were converted to common stock. Following these transactions, Breitbard holds a total of 133,341 shares of Gap Inc. common stock.
These transactions reflect Breitbard’s ongoing management of his equity holdings in the company.
In other recent news, Gap Inc. reported a strong fourth-quarter performance, with earnings per share (EPS) of $0.54, surpassing expectations by $0.17, and revenues reaching $4.15 billion, exceeding forecasts by $79 million. Old Navy and Gap brands showed notable sales growth of 3% and 7% respectively, while Athleta faced a decline. Analysts from CFRA upgraded Gap’s stock rating to Strong Buy, raising the price target to $30, citing improved operational efficiency and attractive valuation. Evercore ISI also maintained an Outperform rating, although it adjusted its price target to $30 from $33, highlighting successful marketing campaigns and strategic initiatives. Meanwhile, BMO Capital Markets upheld a Market Perform rating with a $25 price target, acknowledging Gap’s solid earnings beat and EBIT growth forecast for FY25. The company has also updated its incentive plans for employees and directors to align their interests with long-term company goals. These developments reflect Gap’s ongoing efforts to enhance its financial performance and market position.
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