Cantaloupe CEO Ravi Venkatesan buys $50,400 in company shares from Investing.com

In a recent transaction, Ravi Venkatesan, CEO of Cantaloupe, Inc. (NASDAQ:CTLP), a leader in computing and accounting machinery, has increased its stake in the company. On September 13, 2024, Venkatesan purchased 8,000 shares of Cantaloupe common stock at a weighted average price of $6.30 per share, totaling approximately $50,400.

The shares were purchased in multiple trades at prices ranging from $6.29 to $6.30, as detailed in a footnote to the SEC filing. Following this acquisition, Venkatesan now owns a total of 136,658 shares of Cantaloupe, Inc.

This move by the CEO underlines his confidence in the company’s future performance and prospects. The transaction was conducted through a broker-dealer, ensuring full compliance with market regulations. Cantaloupe, Inc. issued no comment on this transaction.

Investors often monitor insider acquisitions because they can signal executives’ belief in the company’s growth potential. As Cantaloupe’s CEO, Venkatesan’s recent stock purchase may attract the attention of current and potential shareholders looking to gauge insider sentiment.

For those interested in tracking Cantaloupe’s stock performance and insider trading, more details can be requested from the company or the SEC. The information provided in this report is based on the most recent Form 4 filed with the Securities and Exchange Commission.

In other recent news, Cantaloupe Inc. reported a 13% increase in total revenue to $72.7 million in the fourth quarter of fiscal 2024. The company’s transactional revenue rose 16%, while subscription revenue rose 14%. Despite slightly missing full-year revenue targets, Cantaloupe’s adjusted EBITDA rose 91% to $34 million for fiscal 2024.

The company has set ambitious targets for fiscal 2025, targeting revenue growth of 15-20% and adjusted EBITDA growth of around 40%. In strategic moves, Cantaloupe announced the acquisition of SB Software to strengthen its presence in the European market and partnerships with AIR and Mastercard (NYSE: ) to enhance automated retail solutions and digital advertising.

In addition, Cantaloupe released a significant update to its seed sales management system, introducing a modernized user interface, mobile optimization and performance improvements. These recent developments indicate Cantaloupe’s strategic focus on both revenue growth and market expansion.

InvestingPro Insights

Following the recent acquisition by CEO Ravi Venkatesan, Cantaloupe, Inc. (NASDAQ:CTLP) has been the subject of investor interest. The company’s current market capitalization is $460.54 million, reflecting the company’s market valuation. With a P/E ratio of 40 and an adjusted P/E ratio for the trailing twelve months through Q4 2024 of 37.43, Cantaloupe is trading at a high multiple to earnings, which is an InvestingPro tip that indicates the market has expectations high for the company’s future earnings growth.

Another InvestingPro tip points out that Cantaloupe’s stock price movements have been quite volatile. Despite this, the company’s liquid assets exceed its short-term liabilities, providing financial stability and the ability to meet its immediate financial commitments. This is particularly relevant for investors looking for companies with strong balance sheets.

In terms of performance, Cantaloupe has demonstrated revenue growth of 10.24% over the last twelve months starting from Q4 2024, with a quarterly revenue growth rate of 13.22% in Q4 2024. This growth is complemented by a gross profit margin of 38.22%, indicating the company’s ability to maintain the profitability of its sales.

For investors seeking additional information and advice on Cantaloupe, Inc., there are six more InvestingPro tips available that can be accessed for additional in-depth analysis of the company’s financial health and market performance.

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