Director of Urgent.ly Inc. (NASDAQ:ULY), Ben Volkow, has recently sold a portion of his company stock, totaling over $10,000. The transactions, which occurred on May 20 and May 21, 2024, were carried out under a prearranged trading plan.
Volkow sold 2,500 shares of Urgent.ly's common stock on May 20 at a weighted average price of $2.2081, with individual sales prices ranging from $2.12 to $2.31. The following day, an additional 2,300 shares were sold at a weighted average price of $2.0409, with prices ranging from $1.96 to $2.13. The total value of the shares sold across both days amounted to approximately $10,214.
These sales were executed in accordance with a Rule 10b5-1 trading plan, which Volkow had adopted on November 20, 2023. Such trading plans allow company insiders to sell shares over a predetermined schedule to avoid concerns about transactions based on nonpublic information.
Following these transactions, Ben Volkow still holds a substantial number of shares in Urgent.ly, indicating a continued vested interest in the company's success. Investors and shareholders may request detailed information about the exact number of shares sold at each price from Volkow, as noted in the footnotes of the Form 4 filing.
Urgent.ly Inc., a company operating in the computer processing and data preparation sector, has not commented on these transactions. Insider sales and purchases are often closely monitored by investors for insights into a company's health and the confidence levels of its top executives and directors.
InvestingPro Insights
As investors digest the news of Director Ben Volkow's recent stock sales in Urgent.ly Inc. (NASDAQ:ULY), it's valuable to consider the company's financial standing and market performance. Urgent.ly's market capitalization currently stands at a modest $27.11 million, reflecting its position in the competitive computer processing and data preparation sector. Despite a challenging environment, the company has managed to maintain a positive basic EPS (Continuing Operations) over the last twelve months as of Q1 2024, at $13.06.
However, the company's financial health shows signs of strain, with a revenue decline of 11.09% over the last twelve months as of Q1 2024. This aligns with one of the InvestingPro Tips, which points out that analysts anticipate a sales decline in the current year. Additionally, the company's gross profit margin stands at 21.68%, which may be considered modest and correlates with another InvestingPro Tip highlighting weak gross profit margins.
While the company's stock has experienced significant price volatility, with a 22.42% return over the last month, it also suffered a 49.5% decline over the last six months. Investors considering Urgent.ly as a potential addition to their portfolio should note that the company is trading at a low revenue valuation multiple and that its short-term obligations exceed liquid assets, which could present liquidity concerns.
For investors seeking more comprehensive analysis and additional InvestingPro Tips, there are 11 more tips available on Urgent.ly Inc. These can be accessed through InvestingPro's platform at https://www.investing.com/pro/ULY, which also provides an array of advanced financial metrics and tools for in-depth investment research. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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