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Lauren Freeman-Bosworth, the Executive Vice President and General Counsel at Pitney Bowes Inc . (NYSE:PBI), recently sold shares of the company’s common stock. The transaction comes as the stock has shown remarkable strength, delivering a 167% return over the past year and trading near its 52-week high of $11.01. According to a Form 4 filing with the Securities and Exchange Commission, Freeman-Bosworth sold 1,541 shares on February 28, 2025, at a weighted average price of $10.7524 per share. The total transaction value was approximately $16,569.
These transactions were carried out as part of a Rule 10b5-1 trading plan, which Freeman-Bosworth adopted on August 30, 2024. Following the sale, Freeman-Bosworth holds 20,746 shares directly. The sales were executed at prices ranging from $10.65 to $10.88 per share.
In other recent news, Pitney Bowes reported fourth-quarter earnings and revenue that exceeded analyst expectations, leading to a 10% surge in its stock during after-hours trading. The company announced adjusted earnings per share of $0.32 for the quarter, surpassing the consensus estimate of $0.21, with revenue reaching $516 million, above the expected $489.77 million, despite a 2% year-over-year decline. For the full year 2024, Pitney Bowes recorded revenue of $2.027 billion, a 3% decrease from the previous year, while adjusted earnings per share improved by 34% to $0.82. The company provided an optimistic outlook for fiscal year 2025, forecasting revenue between $1.95 billion and $2 billion, and adjusted earnings per share ranging from $1.10 to $1.30, both above analyst expectations. Additionally, Pitney Bowes announced a new $150 million share repurchase authorization and increased its quarterly dividend to $0.06 per share. The company reported progress on strategic initiatives, including nearing the completion of its Global Ecommerce exit and achieving $120 million in annualized cost savings by the end of 2024. Pitney Bowes now anticipates reaching total net annualized cost savings of $170 million to $190 million.
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