Urgent.ly Inc. (NASDAQ:ULY) Director Ben Volkow has sold a total of $60,064 worth of company stock, according to a recent Form 4 filing with the Securities and Exchange Commission. The transactions occurred on March 18 and 19, with the sale prices ranging between $2.2058 and $2.2195 per share.
The filing indicates that Volkow sold 24,500 shares on March 18 at an average price of $2.2195, and an additional 2,578 shares on March 19 at an average price of $2.2058. Following these transactions, Volkow still holds a substantial number of shares in the company, with 559,944 shares remaining in his possession.
It is noted that the sales were executed in accordance with a Rule 10b5-1 trading plan, which Volkow had adopted on November 20, 2023. This plan allows company insiders to set up a predetermined schedule to sell stocks legally, providing a defense against potential accusations of insider trading.
Investors and stakeholders often monitor insider transactions as they can provide insights into an insider's view of the company's future performance. However, it is also common for insiders to sell shares for reasons that may not necessarily indicate a lack of confidence in the company, such as personal financial planning or diversifying their investment portfolio.
Urgent.ly Inc. is a company classified under the Computer Processing & Data Preparation industry, and these recent transactions may draw attention from investors looking to understand the latest insider activity within the company.
InvestingPro Insights
As Urgent.ly Inc. (NASDAQ:ULY) navigates the market, recent insider transactions by Director Ben Volkow have put the spotlight on the company's financial health and stock performance. Let's delve into some critical metrics and tips from InvestingPro that may shed light on the situation.
The company's market cap stands at a modest $26.66 million, indicating its relatively small size in the Computer Processing & Data Preparation industry. Urgent.ly's revenue for the last twelve months as of Q4 2023 was reported at $184.65 million, with a slight decrease of 1.57% in revenue growth during the same period. The gross profit margin has been relatively low at 20.51%, which aligns with one of the InvestingPro Tips highlighting Urgent.ly's struggle with weak gross profit margins.
Investors should also note that Urgent.ly's stock has experienced significant price volatility, with a 35.96% drop in the 1-week price total return and a staggering 61.84% fall over the last six months. This is consistent with another InvestingPro Tip that points out the stock's substantial hit over the past week and its general tendency to trade with high price volatility. The stock is currently trading near its 52-week low, at 26.03% of its high, with a previous close price of $2.03.
For those considering Urgent.ly as a potential investment, it's worth mentioning that there are 12 additional InvestingPro Tips available, which could provide deeper insights into the company's financials and stock performance. Interested investors can find these tips by visiting InvestingPro. Plus, with the promo code PRONEWS24, users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more comprehensive analysis to guide investment decisions.
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