BALTIMORE, MD – ZeroFox Holdings, Inc. (NASDAQ:ZFOX), a leader in business services and cybersecurity, has reported a recent sale of shares by Chief Technology Officer Michael Morgan Price. According to the latest filings, Price sold a total of 29,014 shares of common stock at a price of $1.12 per share, resulting in a transaction value of $32,495.
The sale, which took place on March 18, 2024, was part of a "sell to cover" transaction, a mechanism often used by executives to meet tax withholding obligations upon the vesting of restricted stock units. This type of sale is mandated by the company's equity incentive plans and is not considered a discretionary trade by the reporting person.
Following the transaction, Price's holdings in ZeroFox remain substantial, with a total of 638,526 shares, which include both vested and unvested shares. Specifically, Price retains 110,060 shares of common stock and 528,466 unvested restricted stock units, as noted in the footnotes of the filing.
Investors and market watchers often keep a close eye on insider transactions such as this one for insights into executive sentiment about the company's future performance. ZeroFox's recent disclosure provides transparency into the financial moves of its key executives, ensuring that shareholders and potential investors have access to the same information.
ZeroFox Holdings, Inc. continues to operate out of its Baltimore headquarters, focusing on providing top-tier business services and cybersecurity solutions to its clients.
InvestingPro Insights
As ZeroFox Holdings, Inc. (NASDAQ:ZFOX) navigates the dynamic cybersecurity market, recent financial data from InvestingPro sheds light on the company's current fiscal health and market performance. ZeroFox's market capitalization stands at $138.58 million, reflecting the market's valuation of the company. Despite challenging market conditions, ZeroFox has experienced a notable 98.35% revenue growth over the last twelve months as of Q4 2024, indicating a strong expansion in its business activities.
One of the key InvestingPro Tips for ZeroFox is its high debt burden; the company operates with significant debt, which could impact its financial flexibility. Additionally, short-term obligations exceed its liquid assets, suggesting potential liquidity challenges in the near term. These factors are crucial for investors to consider, especially in light of the recent insider transaction by CTO Michael Morgan Price.
On the performance front, ZeroFox has shown a strong return over the last three months with an 84.75% price total return, which may signal investor confidence in the company's direction or market response to its growth metrics. However, it's important to note that analysts do not anticipate ZeroFox to be profitable this year, and the company has not been profitable over the last twelve months. ZeroFox also does not pay a dividend to shareholders, which is a consideration for income-focused investors.
To gain a more comprehensive understanding of ZeroFox's financial standing and for additional insights, there are more InvestingPro Tips available. Interested readers can explore these tips to better inform their investment decisions. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. There are currently 5 additional InvestingPro Tips listed for ZeroFox, which can provide further depth into the company's financial nuances and market potential.
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