In a recent transaction, Kathy L. Hibbs, the Chief Administrative Officer of 23andMe Holding Co. (NASDAQ:ME), sold a total of 38,548 shares of the company's Class A Common Stock. The shares were sold at a weighted average price of $0.5002, amounting to a total value of $19,281. The sale took place on April 4, 2024, and was executed automatically pursuant to a Rule 10b5-1 trading plan that Hibbs had adopted on March 9, 2023.
On the same day, Hibbs also acquired 38,548 shares of Class A Common Stock at a price of $0.42 per share, totaling an investment of $16,190. This transaction is part of an options exercise, as outlined in a footnote of the filing, which states that the stock options vested 25% after 12 months of service and on a pro rata basis over the following 36 months of service starting from April 1, 2014.
Following the sale, Hibbs's ownership in 23andMe stands at 1,252,315 shares of Class A Common Stock. Additionally, the transaction report included derivative securities, specifically stock options (right to buy), which post-transaction left Hibbs with 77,099 options remaining.
Investors often keep an eye on insider transactions as they can provide insights into an executive's view of the company's stock value and future performance. The transactions are disclosed to the public through filings with the Securities and Exchange Commission (SEC), ensuring transparency in the market.
InvestingPro Insights
Analyzing the recent insider transactions at 23andMe Holding Co. (NASDAQ:ME), it's essential to consider the broader financial context of the company. According to InvestingPro, the market capitalization of 23andMe currently stands at $231.8 million USD, which gives investors a sense of the company's size in the marketplace. Moreover, the financial data reveals that the company is trading at a price/book ratio of 0.61 as of the last twelve months ending Q3 2024, suggesting the stock may be undervalued relative to its assets.
However, the revenue growth has been on the decline, with a -19.4% change over the last twelve months as of Q3 2024, which could be a point of concern for potential investors. This aligns with an InvestingPro Tip indicating that analysts anticipate a sales decline in the current year. The price of 23andMe's stock has also seen a significant decrease over the last year, with a -78.97% total return, which is consistent with another InvestingPro Tip noting that the stock has taken a big hit over the last week. These factors combined could influence investor perception and decision-making.
For those considering a deeper dive into 23andMe's financials and future projections, there are additional InvestingPro Tips available on the InvestingPro platform. As of now, there are 12 more tips that can provide further insights into the company's financial health and stock performance. Interested readers can access these tips and benefit from a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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