In a recent move that caught the attention of market watchers, Ben Volkow, a director at Urgent.ly Inc. (NASDAQ:ULY), sold a portion of his holdings in the company. The transactions, which took place on April 26 and April 29, involved the sale of company common stock worth more than $7,500.
The sales were executed in multiple transactions within a price range of $1.57 to $1.75. Specifically, on April 26, Volkow sold 3,000 shares at an average price of $1.6264, and on April 29, he sold an additional 1,600 shares at an average price of $1.6588. The total number of shares sold across both days amounted to 4,600, generating a total of approximately $7,533 for Volkow.
It's noteworthy that these sales were conducted in accordance with a Rule 10b5-1 trading plan, which Volkow had previously adopted on November 20, 2023. This plan allows company insiders to set up a predetermined schedule for buying or selling stock to avoid accusations of trading on nonpublic, material information.
Following these transactions, Volkow's remaining stake in Urgent.ly Inc. is sizable, with 536,844 shares still under his direct ownership. Investors often monitor insider sales as they may provide insights into an insider's view of the company's current valuation or future prospects.
Urgent.ly Inc., with its focus on computer processing and data preparation services, continues to be a key player in the tech sector, and insider trading activity such as this is closely watched by individuals and institutional investors alike.
InvestingPro Insights
As investors digest the recent insider sales at Urgent.ly Inc., it's crucial to consider the company's financial health and market valuation. Urgent.ly's market cap stands at a modest $22.94 million, reflecting the size and scale of the company within the tech sector. Despite this, the company's stock has been under pressure, with a 1-year price total return of -67.86%, indicating a significant decrease in share value over the past year, aligning with the InvestingPro Tip that the price has fallen considerably over the last year.
Analyzing the company's performance, Urgent.ly's gross profit margin for the last twelve months as of Q4 2023 was reported at 20.51%, a figure that suggests some challenges in maintaining profitability, which is consistent with another InvestingPro Tip highlighting weak gross profit margins. Additionally, the revenue decline of -1.57% over the same period and a more pronounced quarterly revenue drop of -13.31% in Q4 2023 may be contributing factors to the insider's decision to sell, as analysts anticipate a sales decline in the current year.
For investors seeking a deeper dive into Urgent.ly's financial metrics and future outlook, there are more InvestingPro Tips available. Currently, there are 11 additional tips listed on InvestingPro, which can provide further insights into the company's cash flow situation, debt levels, and profitability. Interested readers can access these insights by visiting the InvestingPro platform. Moreover, for those considering an InvestingPro subscription, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a comprehensive analysis of Urgent.ly Inc. and other tech sector players.
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