Andre Almeida, a member of T-Mobile’s (TMUS) board of directors, has purchased a substantial amount of company stock.
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According to a filing with the U.S. Securities and Exchange Commission (SEC), Almeida bought 3,807 shares of TMUS stock at an average price of $235.71 per share in December. In all, Almeida spent just under $900,000 acquiring the new shares of T-Mobile.
Stock buys among senior executives and board members at publicly traded companies are often viewed as a vote of confidence and taken as a bullish sign among investors. After all, senior management and board directors have inside knowledge about the company they work for and its future prospects.
Director Profile
According to T-Mobile’s website, André Almeida has served on the company’s board of directors since June 2023. He also works for Deutsche Telekom, of which T-Mobile is a subsidiary, where he is currently the head of Investment and Portfolio Management.
It is not known whether Almeida owns other shares of T-Mobile, or if this was his first purchase of company stock. His December purchase comes after TMUS stock gained 37% in the last 12 months. It also comes after analysts at KeyBanc Capital Markets downgraded T-Mobile’s stock from a Buy-equivalent rating to a Hold, citing concerns over the company’s valuation.
Is TMUS Stock a Buy?
T-Mobile stock has a consensus Strong Buy rating among 18 Wall Street analysts. That rating is based on 16 Buy and two Hold recommendations made in the last three months. There are no Sell ratings on the stock. The average TMUS price target of $242.33 per share implies 10.60% upside from current levels.
