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Matthew J. Hawkins (NASDAQ:HWKN), the Chief Executive Officer of Waystar Holding Corp. (NASDAQ:WAY), a $6.07 billion market cap company, recently sold shares worth $1.66 million, according to a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro data, the stock has delivered an impressive 70% return over the past year. The transactions, which took place on March 13, involved the sale of 46,655 shares at prices ranging from $35.54 to $36.36 per share.
In addition to the sales, Hawkins exercised stock options to acquire 46,665 shares at a price of $4.14 each, totaling approximately $193,193. After these transactions, Hawkins holds 500,000 shares of Waystar stock directly.
These transactions were conducted automatically under a pre-established trading plan adopted by Hawkins in November 2024, designed to comply with Rule 10b5-1(c). For deeper insights into Waystar’s insider trading patterns and comprehensive financial analysis, including 10+ additional ProTips, check out the detailed research report available on InvestingPro.
In other recent news, Waystar Holding has been in the spotlight with several significant developments. Goldman Sachs recently raised its price target for Waystar to $52, maintaining a Buy rating, following the company’s impressive fourth-quarter 2024 performance that surpassed revenue and profitability estimates by over $10 million and $5 million, respectively. Similarly, Canaccord Genuity increased its price target to $50, citing Waystar’s robust growth and successful client acquisition strategies. Truist Securities also initiated coverage with a Buy rating and a $45 target, emphasizing Waystar’s strategic positioning in the healthcare payment automation sector.
In addition to analyst updates, Waystar launched the Auth Accelerate solution, which promises to reduce prior authorization processing time by 70%, significantly improving efficiency for healthcare providers. This innovative approach has already been adopted by major organizations like Prisma Health. Furthermore, Waystar announced a public offering of 18 million shares by certain investment funds, with the proceeds going to the selling stockholders, not the company itself.
These recent developments highlight Waystar’s continued focus on innovation and strategic growth within the healthcare payment solutions industry. The company’s recent collaborations and product launches, such as AltitudeAI, reflect its commitment to enhancing operational efficiency for its clients. As Waystar continues to expand its offerings and strengthen its market position, these updates provide investors with insights into the company’s ongoing performance and future potential.
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