Alberto Horihuela, the Chief Operating Officer of fuboTV Inc. (NYSE:FUBO), recently sold a portion of his shares in the company. According to a filing with the Securities and Exchange Commission, Horihuela sold 47,478 shares of common stock on November 21 at a price of $1.47 per share, amounting to a total transaction value of $69,792.
The sale was conducted to cover taxes upon the vesting of restricted stock units, as part of a pre-established trading plan. After the sale, Horihuela retains direct ownership of 1,471,325 shares in fuboTV.
In addition to the sale, Horihuela acquired 94,912 shares through the vesting of restricted stock units, which were granted at no cost. These transactions reflect the ongoing management of equity holdings by executives within the company.
In other recent news, FuboTV (NYSE:) Inc. reported a 21% year-over-year growth in total revenue in the third quarter of 2024, reaching $377 million, along with a 9% rise in paid subscribers, totaling 1.613 million. The company also observed a nearly $100 million year-over-year improvement in adjusted EBITDA. However, FuboTV experienced an 11% dip in advertising revenue due to challenging year-over-year comparisons.
FuboTV has expanded its offerings by partnering with NBCUniversal to launch 18 free ad-supported television channels, enhancing the platform’s existing lineup. The company also introduced new interactive Connected TV ad formats, designed to enhance audience engagement.
In legal developments, FuboTV is involved in an antitrust lawsuit against major media companies, with a trial scheduled for October 2025. The company’s Q4 2024 North America subscriber projections are between 1.665 million and 1.705 million, with revenue guidance ranging from $426 million to $446 million.
These recent developments reflect FuboTV’s resilience and adaptability in the fast-paced streaming industry, demonstrating its commitment to growth and market competitiveness.
InvestingPro Insights
As fuboTV’s COO Alberto Horihuela adjusts his equity position, investors should consider the broader financial landscape of the company. According to InvestingPro data, fuboTV’s market capitalization stands at $522.85 million, with a revenue of $1.59 billion in the last twelve months as of Q3 2024. The company has shown strong revenue growth of 24.45% over the same period, indicating its ability to expand its user base and service offerings.
However, InvestingPro Tips highlight some challenges facing fuboTV. The company is “quickly burning through cash” and “may have trouble making interest payments on debt.” These factors could explain why executives might need to sell shares to cover tax obligations, as cash preservation becomes increasingly important.
Despite the revenue growth, fuboTV is “not profitable over the last twelve months,” with an adjusted operating income of -$229.71 million. This aligns with another InvestingPro Tip stating that “analysts do not anticipate the company will be profitable this year.”
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for fuboTV, providing a deeper understanding of the company’s financial health and market position.
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