Matthew Rabinowitz, Executive Chairman of Natera, Inc. (NASDAQ:NTRA), a company whose stock has surged over 165% year-to-date and currently trades near its 52-week high at $166.55, recently sold a substantial amount of company stock, according to a filing with the Securities and Exchange Commission. According to InvestingPro analysis, the company appears to be trading above its Fair Value. On December 13, Rabinowitz sold a total of 159,000 shares of Natera common stock. The transactions were executed at prices ranging from $164.61 to $168.35 per share, resulting in a total sale value of approximately $26.5 million. This transaction comes as the company, now valued at nearly $22 billion, shows strong price momentum - one of 13 key insights available on InvestingPro.
These sales were made under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks. Following these transactions, Rabinowitz retains direct ownership of 2,389,180 shares. Additionally, he holds 84,000 shares indirectly through his spouse.
In other recent news, Natera Inc (NASDAQ:NTRA). has made significant strides in its financial performance and executive management. The company reported a record Q3 revenue of $439.8 million, marking a 64% increase year-over-year. The company's gross margins also reached a record high of 62%. Based on these robust financial results, Natera has revised its full-year revenue guidance upwards to between $1.61 billion and $1.64 billion.
In terms of executive management, Natera amended its agreement with Executive Chairman Dr. Rabinowitz, who will continue his role on an at-will basis with an annual base salary set at half of the company's CEO's base salary. He is also eligible for an annual cash bonus, which is 85% of his base salary, contingent upon the achievement of performance goals set by Natera's Board of Directors or its Compensation Committee.
Despite facing a setback in a false advertising lawsuit against Guardant Health (NASDAQ:GH), Natera remains firm in its disagreement with the decision. Analyst firms TD Cowen, Baird, and Jefferies have maintained favorable ratings on Natera's stock and raised their price targets, reflecting confidence in the company's operational success and growth. These recent developments highlight Natera's strong financial position and growth prospects.
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