Somnigroup international EVP sells $2.06 million in stock

David Montgomery, Executive Vice President of Global Business Strategy at Somnigroup International Inc. (NASDAQ:SGI), recently sold a significant portion of his holdings. According to a Form 4 filing with the Securities and Exchange Commission, Montgomery sold 32,785 shares of common stock on March 3 at a weighted average price of $62.8764, totaling approximately $2.06 million. These shares were sold in multiple transactions, with prices ranging from $62.6850 to $63.11. The stock, currently trading near $62.51, appears overvalued according to InvestingPro analysis, with a P/E ratio of 28.3x and high EBITDA multiple of 22.3x. The company maintains a "GOOD" overall financial health score.

In addition to the sale, Montgomery acquired 50,000 shares through the exercise of stock options at a price of $17.38 per share. Following these transactions, Montgomery’s direct ownership stands at 875,839 shares. With SGI’s market capitalization of $13 billion and analysts setting price targets between $62 and $81, InvestingPro subscribers can access comprehensive insider trading analysis and 12 additional exclusive insights about SGI’s valuation and growth prospects.

In other recent news, Somnee Group International Inc. reported strong financial results for the fourth quarter of 2024, surpassing earnings expectations with an adjusted earnings per share (EPS) of $0.60 and revenue of $1.21 billion, both exceeding forecasts. The company completed a significant merger with Mattress Firm, which is anticipated to yield $100 million in annual synergies by 2028. Jefferies initiated coverage on Silicon Graphics International Corp. with a Hold rating, citing the company’s earnings per share at the upper end of guidance due to slightly better-than-expected sales growth and positive EBIT results. However, Jefferies noted the complexity of projecting future performance due to the inclusion of Mattress Firm’s financials. Truist Securities raised its price target for Silicon Graphics to $75, maintaining a Buy rating after the company reported earnings that exceeded analyst forecasts. Truist highlighted improvements in domestic wholesale operations and strong international sales as positive factors. Analysts at Truist expressed confidence in the company’s future, suggesting that the EPS figure for 2028 might be underestimated. These developments reflect recent strategic moves and financial achievements by both Somnee Group and Silicon Graphics.

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