Rimini Street executive David Rowe sells $10,268 in stock

Published 06/03/2025, 00:30
Rimini Street executive David Rowe sells $10,268 in stock

David W. Rowe, Chief Product Officer and Chief Marketing Officer at Rimini Street , Inc. (NASDAQ:RMNI), reported a recent sale of company stock according to a filing with the Securities and Exchange Commission. On March 3, 2025, Rowe sold 2,951 shares of common stock at an average price of $3.4797 per share, totaling approximately $10,268. This transaction was an automatically-triggered "sell-to-cover" to meet tax withholding obligations related to the vesting of Restricted Stock Units (RSUs), and was not initiated by Rowe himself. The stock has shown strong momentum recently, gaining nearly 8% in the past week and nearly doubling in value over the last six months, according to InvestingPro data.

Additionally, on the same day, Rowe acquired 6,667 shares of common stock through the vesting of RSUs, without a cash transaction. Following these transactions, Rowe’s direct ownership of Rimini Street shares stands at 394,479 shares. InvestingPro analysis suggests the stock is currently undervalued, with analysts setting price targets up to $7.00 per share. For deeper insights into RMNI’s valuation and 10+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Rimini Street Inc. reported its Q4 2024 earnings, revealing a revenue of $114.2 million, which exceeded analyst forecasts of $102.51 million. The company’s earnings per share (EPS) met expectations at $0.07. Despite the positive revenue performance, Rimini Street’s full-year revenue saw a slight decline of 0.6%, totaling $428.8 million. In a separate development, Alliance Global Partners (NYSE:GLP) upgraded Rimini Street’s stock from Neutral to Buy, raising the price target to $6.50, citing anticipated cash recovery from Oracle (NYSE:ORCL) and improved profit forecasts as key factors.

Additionally, Rimini Street addressed a compliance issue by appointing Jay Snyder to its Audit Committee, fulfilling Nasdaq’s requirement for a minimum of three members. This appointment comes after a period of noncompliance due to a board member’s resignation. The company took swift action to regain compliance, highlighting its commitment to governance standards.

Furthermore, Rimini Street’s strategic adjustments, including a new sales model and cost reductions, are part of its efforts to enhance future growth. The company also anticipates recovering $58 million from Oracle, which is expected to bolster its financial position. These recent developments underscore Rimini Street’s ongoing efforts to navigate market challenges and optimize its operations.

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

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