Shift4 Payments shares jump as founder Isaacman buys stock
Investing.com -- Shares of Shift4 Payments Inc . (NYSE:FOUR) rose 4% in premarket trading on Tuesday after regulatory filings showed the company’s founder and executive chairman Jared Isaacman purchased a significant amount of stock.
According to documents filed with the U.S. Securities and Exchange Commission, Isaacman acquired 91,721 shares at an average price of $81.90 on Friday, August 8, followed by an additional 104,705 shares at an average price of $83.61 on Monday, August 11.
The transactions increased Isaacman’s direct holdings to 939,715 shares of Class A common stock. The executive chairman, who also serves as a director and is listed as a 10% owner of the payment processing company, made the purchases as Shift4 Payments shares had fallen 18% over the past month.
The first batch of shares was purchased in multiple transactions at prices ranging from $81.37 to $82.33, while the second group was acquired at prices between $83.20 and $83.99, according to the SEC filing.
Shift4 Payments, headquartered in Center Valley, Pennsylvania, processes payments for various industries including hospitality, retail, and e-commerce sectors.
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