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Lisa Utzschneider, the CEO of Integral Ad Science Holding Corp. (NASDAQ:IAS), has sold 12,448 shares of the company’s common stock. The company, which has demonstrated strong performance with ~12% revenue growth and maintains healthy liquidity with a current ratio of 3.71, continues to show positive momentum. The shares were sold at a weighted average price of $10.61, totaling approximately $132,073. This transaction was conducted to cover tax liabilities associated with the settlement of restricted stock units. Following this sale, Utzschneider retains ownership of 278,650 shares in the company. According to InvestingPro analysis, IAS currently appears undervalued, with multiple analysts revising earnings expectations upward for the upcoming period.
In other recent news, Integral Ad Science, a digital ad verification company, has finalized the separation terms with its former Chief Financial Officer, Tania Secor. This agreement includes a severance package equivalent to 12 months of Ms. Secor’s base salary and her annual bonus for 2024. The company will also cover Ms. Secor’s COBRA premiums for a year and the cost of third-party coaching services through March 2025.
Following Ms. Secor’s departure, Integral Ad Science has appointed Jill Putman as the interim CFO. Putman brings over 30 years of experience to the role and will oversee the company’s financial operations until a permanent CFO is appointed.
In recent developments, Jefferies, a global investment banking firm, reduced its price target for Integral Ad Science to $15 while maintaining a Buy rating on the stock. This decision was based on the company’s performance and a less optimistic forecast for future results. Similarly, Piper Sandler adjusted its outlook for the company, reducing the price target from $18 to $16 while keeping an Overweight rating on the shares.
Despite these changes, Integral Ad Science reiterated its revenue and adjusted EBITDA outlook for the fourth quarter and full year of 2024, maintaining its financial projections as previously communicated.
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