Vicarious Surgical Inc. (NYSE:RBOT) CFO and Treasurer William John Kelly recently sold a portion of his holdings in the company. The transaction was carried out to satisfy tax withholding requirements related to the vesting of restricted stock units. On March 20, 2024, Kelly sold 1,290 shares of Class A common stock at an average price of $0.339 per share, for a total value of approximately $437.
The shares sold by Kelly ranged in price from $0.321 to $0.3511, as noted in a footnote of the filing. This sale was specifically conducted to cover the tax obligations that arose from the vesting of restricted stock units granted to him on November 23, 2021.
Following the sale, Kelly still retains a substantial stake in the company, with 517,841 shares of Vicarious Surgical Inc. remaining under his direct ownership. The company, which is known for its specialization in orthopedic, prosthetic, and surgical appliances and supplies, is headquartered in Waltham, Massachusetts, and operates under the legal framework of Delaware.
In a statement attached to the filing, Kelly expressed his readiness to provide further details about the individual sale prices upon request by the Securities Exchange Commission, Vicarious Surgical Inc., or any of its security holders.
Investors often monitor insider transactions as they may provide insights into the executives' confidence in the company's prospects. However, in this case, the transaction appears to be a routine financial matter related to the vesting of equity compensation rather than a strategic market move.
Erin Checka, serving as attorney-in-fact, signed the document on behalf of Kelly on March 21, 2024. The sale was reported in compliance with SEC regulations, which mandate timely disclosure of such transactions by company insiders.
InvestingPro Insights
As investors keep an eye on insider transactions at Vicarious Surgical Inc. (NYSE:RBOT), it's also valuable to consider the broader financial health and market performance of the company. According to recent data from InvestingPro, Vicarious Surgical Inc. holds a market capitalization of $63.27 million, which gives a sense of the company's size in the competitive landscape of orthopedic and surgical appliances.
The company's financial state shows some challenges, with an adjusted P/E ratio for the last twelve months as of Q4 2023 standing at -0.92, indicating that the company has been unprofitable. This aligns with the InvestingPro Tip that analysts do not anticipate the company will be profitable this year. Moreover, the stock's performance has seen a significant downturn, with a 1 Year Price Total Return as of early April 2024 showing a steep decline of -85.97%, which may concern potential investors.
On a more positive note, one of the InvestingPro Tips highlights that the company holds more cash than debt on its balance sheet, which could be a sign of financial prudence and stability in managing its capital. Additionally, two analysts have revised their earnings upwards for the upcoming period, suggesting that there may be some optimism about the company's future earnings potential.
For investors looking for a more comprehensive analysis, there are additional InvestingPro Tips available that delve into aspects such as cash burn rate, gross profit margins, and liquidity. For instance, Vicarious Surgical Inc. is noted for quickly burning through cash, which is a critical factor to consider when assessing the company's long-term sustainability. With these insights in mind, investors can make more informed decisions about their interest in RBOT. To explore these insights further, visit InvestingPro at https://www.investing.com/pro/RBOT and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 10 additional InvestingPro Tips available that could provide further depth to your investment research.
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