In a recent series of transactions, the ITEM Second Irrevocable Trust FBO Jacob J. Westphal, associated with Vertex (NASDAQ:VRTX), Inc. (NASDAQ:VERX), has sold a significant number of shares in the company. The trust, which is a 13(D) group member and not an officer or director, sold a total of $1,475,294 worth of Class A Common Stock.
The sales occurred over three consecutive days, with prices ranging from $30.00 to $30.21 per share, according to the weighted average prices reported. On March 18, 2024, 6,967 shares were sold at an average price of $30.0435. The following day, 31,173 shares were sold at an average price of $30.0553. The sales concluded on March 20, with 10,955 shares sold at an average price of $30.0381.
After these transactions, the trust's holdings in Vertex, Inc. Class A Common Stock have decreased to 1,200,665 shares. The sales were executed directly, emphasizing the trust's direct investment in the company's equity.
Investors and market watchers often keep a close eye on insider transactions as they can provide insights into the company's performance and insider perspectives. The recent sales by the ITEM Second Irrevocable Trust FBO Jacob J. Westphal are notable due to the substantial amount of stock involved and may be of interest to those following Vertex, Inc.'s stock activity.
InvestingPro Insights
Amidst the recent insider transactions at Vertex, Inc. (NASDAQ:VERX), investors may find additional context in the company's financial health and market performance. According to InvestingPro data, Vertex, Inc. has a market capitalization of $4.62 billion. The company has been trading at a high Price / Book multiple of 18.27, which suggests a premium valuation compared to the book value of its assets. Despite this, revenue growth has been robust, with a 16.43% increase over the last twelve months as of Q4 2023, and a quarterly growth of 18.14% in Q4 2023.
From an earnings perspective, InvestingPro Tips indicate that analysts are optimistic about Vertex, Inc.'s future. Four analysts have revised their earnings projections upwards for the upcoming period, signaling confidence in the company's potential to increase its net income. Furthermore, analysts predict the company will be profitable this year, which could mark a turning point for Vertex, Inc. as it has not been profitable over the last twelve months.
For investors interested in a deeper dive into Vertex, Inc.'s financials and market prospects, InvestingPro offers additional insights. There are 12 more InvestingPro Tips available, which could further inform investment decisions. To access these tips and take advantage of the full suite of tools, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/VERX.
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