Glaukos Corp (NYSE:GKOS) has disclosed that its Senior Vice President and Chief Financial Officer, Alex R. Thurman, has sold a total of 474 shares of the company's common stock. The transactions, which took place on April 2, 2024, resulted in proceeds exceeding $42,000. The sales were made at prices ranging from $88.76 to $92.74, reflecting the prevailing market conditions at the time of the transactions.
According to the filing, the shares sold were part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. This plan was adopted by Thurman on May 17, 2023.
The transactions were executed in multiple trades, with the prices reported as weighted averages. The specific breakdown of the sales is as follows: 44 shares were sold at an average price of $88.76, 170 shares at $89.71, 178 shares at $90.76, 81 shares at $91.74, and 1 share at $92.74.
In addition to the sales, Thurman also reported a transaction coded as "F" for the withholding of 1001 shares valued at $93.1 each to satisfy tax obligations related to vested restricted stock units. The total value of the withheld shares was $93,193.
After these transactions, Thurman's holdings in Glaukos Corp include 54,916 shares of common stock, which also accounts for 22,898 restricted stock units that have not yet vested or been delivered.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's future performance. However, these transactions may not always be indicative of future price movements and can be influenced by a variety of individual circumstances.
The details of the transactions were filed with the Securities and Exchange Commission and are publicly available for review.
InvestingPro Insights
Glaukos Corp's (NYSE:GKOS) recent insider stock sales coincide with a period of significant market performance for the company. According to InvestingPro data, Glaukos has experienced a strong return over the last three months, with a 22.23% price total return, and an even more impressive one-year price total return of 89.19%. This robust growth trajectory is further underscored by the fact that the company is trading near its 52-week high, at 96.48% of this peak value.
Despite these positive trends in stock performance, the company's financial health presents a mixed picture. Glaukos is not expected to be profitable this year, as indicated by a negative P/E ratio of -35.84 for the last twelve months as of Q4 2023. However, an InvestingPro Tip suggests that Glaukos has a healthy liquidity position, with liquid assets surpassing short-term obligations. This could provide some reassurance to investors concerned about the company's ability to meet its immediate financial commitments.
Investors considering Glaukos Corp as a potential addition to their portfolio might want to note that the company operates with a moderate level of debt and does not pay a dividend to shareholders. For those seeking a more comprehensive analysis, there are additional InvestingPro Tips available, which can provide deeper insights into the company's financials and market performance. To explore these further, investors can access the full suite of tips at InvestingPro, and take advantage of a special offer using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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