In a recent transaction, Di-Ann Eisnor, a director at CXApp Inc. (NASDAQ:CXAI), sold 15,000 shares of company stock, totaling approximately $50,700. The sale was executed at a weighted average price of $3.38 per share, with individual transactions ranging from $3.37 to $3.39.
The transaction took place on August 13, 2024, and was reported in a Form 4 filing with the Securities and Exchange Commission (SEC). Following the sale, Eisnor's remaining direct holdings in CXApp Inc. amount to 64,120 shares. It's worth noting that the shares sold by Eisnor were held by The Di-Ann Eisnor Revocable Trust, for which she is the trustee.
The disclosed sale price represents a range that was achieved through multiple transactions. Investors interested in the specific breakdown of the sale prices can request detailed information from the SEC, CXApp Inc., or Eisnor, as she has agreed to provide full details upon request.
CXApp Inc., under the ticker CXAI, is recognized in the industry for its prepackaged software services. The company, incorporated in Delaware, has its business address in Palo Alto, California.
The recent stock sale by a company director may be of interest to current and potential investors, as insider transactions can provide insights into the company's performance and future prospects.
In other recent news, AI and enterprise software company CXAI disclosed robust Q2 2024 results and major business deals during its earnings call. The company reported a significant expansion deal with a major financial services customer and multiyear agreements with Google (NASDAQ:GOOGL), among other enterprise clients. CXAI's commitment to an AI-native SaaS model resulted in $1.91 million in bookings for the quarter, highlighting an increase in recurring revenue and gross margins.
The company's AI-centric platform, designed to enhance employee experiences, is being used in more than 200 cities across 50 countries to meet customer demands for remote office access. In addition to these developments, CXAI is preparing for its Annual Shareholder Meeting.
Despite a delay in the 10-K filing leading to a refiling of the initial S-1, the company remains confident in its ability to scale and create shareholder value. A potential partnership with Palantir (NYSE:PLTR) was also mentioned, emphasizing CXAI's position as a leading provider in the digital workplace. These are among the recent developments at CXAI.
InvestingPro Insights
The recent insider transaction involving Di-Ann Eisnor, a director at CXApp Inc. (NASDAQ:CXAI), comes at a time when the company exhibits a complex financial landscape. According to InvestingPro data, CXApp Inc. has a market capitalization of $34.4 million, reflecting its current valuation in the market. Despite a challenging revenue growth trend, with a decrease of 8% over the last twelve months as of Q1 2024, the company maintains an impressive gross profit margin of 79.12%. This indicates that while CXApp Inc. is facing some headwinds in expanding its top-line revenue, it is efficient in managing the cost of goods sold, retaining a high percentage of revenue as gross profit.
InvestingPro Tips highlight a significant return over the last week with a 49.72% increase, which might be of particular interest to investors considering the timing of Eisnor's stock sale. Additionally, CXApp Inc. is noted for holding more cash than debt on its balance sheet, suggesting a degree of financial stability in terms of liquidity. However, it's also important to note that the company is not expected to be profitable this year, with analysts indicating a negative forecast for the company's profitability.
For investors seeking a deeper dive into CXApp Inc.'s financial health and future prospects, there are 11 additional InvestingPro Tips available. These tips can provide further context to the recent insider transaction and help investors make more informed decisions. The full list of tips, along with detailed metrics and analysis, can be accessed through the InvestingPro platform at https://www.investing.com/pro/CXAI.
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