Insider transaction
Donald L. Reeves III, who serves as senior vice president, Outcomes at Itron (NASDAQ: ITRI), executed a sale of 5,419 shares of common stock on February 19, 2026, at a unit price of $99.5385. The transaction produced total proceeds of $539,399.
Following that disposition, Reeves retains direct ownership of 33,140 shares of Itron stock. Company filings indicate the disposition was carried out to meet tax withholding obligations arising from the vesting of a performance-based restricted stock unit award.
Market context
At the time of reporting, Itron shares were trading at $98.02, representing an 11% gain over the prior week. The sale and the company’s near-term market performance come amid a string of corporate and financial developments that have drawn attention from analysts and investors.
Recent financial and strategic developments
Itron released fourth-quarter 2025 results that exceeded consensus estimates. The company reported earnings per share of $2.46 versus the $2.19 forecast and generated revenue of $572 million compared with the $561.48 million analysts had expected. In the wake of those results, Oppenheimer increased its price target on the stock to $133 from $125 and reiterated an Outperform rating. Baird also upgraded its recommendation to Outperform from Neutral and raised its price target to $128 from $118, citing a multi-year opportunity in utility grid modernization.
Separately, Itron announced a planned private offering of $600 million in convertible senior notes due 2032, with an option for initial purchasers to acquire an additional $90 million in notes. The company said interest rate and initial conversion rate terms will be determined at the time of pricing.
Takeaway
The insider sale was explicitly disclosed as a tax-related sale tied to RSU vesting. Concurrently, Itron’s quarterly results and subsequent analyst actions, along with the convertible note offering, underscore the company’s recent operational momentum and financing activity. Details on the convertible notes’ economics await final pricing.