Michael Sievert, President and CEO of T-Mobile US, Inc. (NASDAQ:TMUS), has recently sold 40,000 shares of the company's common stock. The shares were sold at a weighted average price of $239.22, generating a total of approximately $9.57 million. Following this transaction, Sievert retains ownership of 318,124 shares. The sales were executed in multiple transactions, with prices ranging from $237.64 to $241.99.
In other recent news, T-Mobile US has seen a flurry of activity from analysts. Raymond (NS:RYMD) James downgraded the company to Market Perform, citing the stock's recent price surge and potential risks at various levels. Despite this, other firms have maintained a positive outlook. Bernstein SocGen Group kept its Outperform rating and a $220 price target, lauding the company's strong performance, including service revenue and core adjusted EBITDA exceeding consensus estimates. T-Mobile also added 315,000 new postpaid accounts in the quarter.
Oppenheimer increased T-Mobile's price target to $250, highlighting a service revenue growth of 5.1%, surpassing their estimate of 4.9%, and a significant addition of 865,000 postpaid phone net subscribers. Scotiabank (TSX:BNS) raised its price target for T-Mobile from $236.00 to $237.00, following the company's robust quarter.
Benchmark raised the price target for T-Mobile to $255, in response to strong third-quarter results and positive guidance revisions. TD Cowen increased the mobile carrier's price target to $250, prompted by T-Mobile's strong performance, exceeding expectations on EBITDA, revenue, and free cash flow. These developments reflect the company's robust operational results and its potential for continued growth in the telecommunications industry.
InvestingPro Insights
As T-Mobile's CEO Michael Sievert makes a significant stock sale, it's worth examining the company's current financial position and market performance. According to InvestingPro data, T-Mobile boasts a substantial market capitalization of $275.02 billion, reflecting its prominent position in the Wireless Telecommunication Services industry.
The company's stock has shown remarkable strength, with a 61.98% total return over the past year and currently trading near its 52-week high at 97.77% of that peak. This performance aligns with an InvestingPro Tip indicating that T-Mobile has delivered a strong return over the last three months, which is further supported by the impressive 20.26% price total return over that period.
Despite the recent insider sale, T-Mobile's financial metrics remain robust. The company reported revenue of $80.01 billion in the last twelve months as of Q3 2023, with a healthy gross profit margin of 63.83%. An InvestingPro Tip suggests that T-Mobile is trading at a low P/E ratio relative to its near-term earnings growth, which could indicate potential value for investors. The current P/E ratio stands at 26.77, while the adjusted P/E ratio for the last twelve months is 25.34.
It's worth noting that InvestingPro offers 11 additional tips for T-Mobile, providing a more comprehensive analysis for investors seeking deeper insights into the company's prospects.
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