Bitcoin Depot Inc. (NASDAQ:BTM) has reported that an executive sold a significant amount of company stock, totaling over $89,000. The transactions were carried out over two consecutive days, with the prices ranging from $1.7596 to $1.9089 per share.
On May 6, 2024, a total of 7,125 shares were sold at a weighted average price of $1.9089. The following day, 42,875 shares were traded, with the weighted average price slightly lower at $1.7596 per share. These sales were conducted under a pre-arranged 10b5-1 trading plan, which was established on November 30, 2023.
The executive, whose title is listed as "See Remarks" in the filing, now holds 646,702 shares of Class A common stock following the transactions. Additionally, the executive is associated with BT Assets, Inc., a ten percent owner of Bitcoin Depot, which indirectly holds 41,193,024 shares of the company's Class V common stock. These Class V shares can be exchanged one-for-one for Class A shares at the discretion of BT Assets, Inc.
The sales were disclosed in a Form 4 filing with the Securities and Exchange Commission, which is used to report changes in company ownership by directors, officers, and shareholders owning ten percent or more of the company's stock. The filing was signed on behalf of the executive and BT Assets, Inc. by Felicity Lewis, acting as attorney-in-fact.
InvestingPro Insights
The recent stock sales by a Bitcoin Depot Inc. (NASDAQ:BTM) executive come at a time when the company's financial metrics and market performance are drawing attention from investors. According to real-time data from InvestingPro, Bitcoin Depot's market capitalization stands at approximately $101.27 million, reflecting the scale of the company within its industry. Despite the stock sales, the company has shown a revenue growth of 6.51% over the last twelve months as of Q4 2023, indicating some level of business expansion during that period.
However, the company's stock price has experienced significant volatility, as evidenced by a 1-week price total return of -5.03% and a 6-month price total return of -26.46% as of the current year. This volatility is further highlighted by an InvestingPro Tip that notes the stock generally trades with high price volatility. For investors considering Bitcoin Depot as a potential addition to their portfolios, this could be an important factor to consider, especially in the context of an executive selling a notable amount of stock.
Another InvestingPro Tip suggests that the stock is trading at a low revenue valuation multiple, which could indicate that the company's stock is undervalued relative to its revenue. This might be of interest to value investors seeking opportunities where the market has not fully recognized a company's revenue-generating potential. For those looking to explore further, there are additional InvestingPro Tips available, providing a deeper dive into Bitcoin Depot's financial health and market prospects.
Investors who wish to gain comprehensive insights into Bitcoin Depot Inc. can access more tips by visiting InvestingPro. To get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, use the coupon code PRONEWS24.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.