JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Eric J. Lindberg Jr., a director at Grocery Outlet Holding Corp. (NASDAQ:GO), recently sold 35,438 shares of the company’s common stock. The shares were sold at a price of $13.16 each, totaling approximately $466,364. Following this transaction, Lindberg directly owns 158,013 shares. The sale comes as the $1.25 billion market cap company’s stock has declined over 51% in the past year, though InvestingPro analysis indicates management has been actively buying back shares.
The sale was conducted to fulfill tax withholding obligations related to the vesting of performance stock units previously granted to Lindberg. In addition to his direct holdings, Lindberg also has indirect ownership through the Lindberg Family Revocable Trust, the Lindberg Irrevocable Trust, and shares held by family members, bringing his total indirect holdings to over 2.3 million shares. According to InvestingPro’s comprehensive analysis, which includes over 30 key metrics and financial health indicators, the company maintains a FAIR financial health rating, with liquid assets exceeding short-term obligations.
In other recent news, Grocery Outlet Holding Corp reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.15, which fell short of the anticipated $0.17. However, the company exceeded revenue expectations, achieving $1.1 billion against a forecast of $1.09 billion. Despite strong sales, profitability concerns were highlighted, with a lower-than-expected adjusted EBITDA margin of 5.2%. Analysts from Craig-Hallum, Telsey Advisory Group, and DA Davidson all adjusted their price targets for Grocery Outlet, citing ongoing system issues and operational challenges. Craig-Hallum reduced their target to $13.50, Telsey to $16.00, and DA Davidson to $15.00, each maintaining a neutral or hold rating on the stock.
These analysts noted that while comparable store sales showed positive growth, profitability was adversely affected by higher shrinkage and system conversion problems. Grocery Outlet’s management outlined a restructuring plan involving store closures and workforce reductions, expected to impact short-term profitability but improve long-term returns. The company is also addressing systemic challenges and plans to enhance inventory management and buying capabilities. Looking ahead, Grocery Outlet anticipates comparable store sales growth between 2-3% for 2025, with total net sales projected to reach between $4.7 billion and $4.8 billion.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.