Urgent.ly Inc. (NASDAQ:ULY) Director Ben Volkow has recently sold a portion of his company shares, according to the latest filings with the Securities and Exchange Commission. The transactions, which occurred on June 24 and 25, resulted in the sale of 1,800 shares at prices ranging from $1.51 to $1.68, totaling approximately $2,890.
The sales were conducted under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined plan for buying or selling stocks at a future date. This plan was adopted by Volkow on November 20, 2023, providing a systematic approach to the disposition of shares and potentially avoiding any accusations of insider trading.
On the first day of the reported transactions, Volkow sold 1,000 shares of Urgent.ly Inc. at an average price of $1.6505 per share. The following day, an additional 800 shares were sold at an average price of $1.5503. The difference in the average prices on these consecutive days reflects the volatility in the trading price of Urgent.ly's stock.
Following these transactions, Ben Volkow's remaining stake in the company stands at 495,188 shares of common stock, indicating a significant ongoing investment in Urgent.ly's future. Investors often monitor insider sales as they can provide insights into an insider's view of the company's valuation.
Urgent.ly, a company specializing in computer processing and data preparation, has not issued any statement regarding these transactions at the time of writing. Investors and analysts will continue to observe insider activity as an indicator of confidence in the company's performance and strategic direction.
InvestingPro Insights
Amidst the recent insider trading activity, Urgent.ly Inc. (NASDAQ:ULY) has displayed a series of financial metrics that may provide additional context to investors. With a market capitalization of just $20.94 million, the company is navigating through a challenging phase, as indicated by a substantial year-to-date price total return of -50.79%. This decline is echoed in the company's one-year price total return, which has plummeted by -70.68%, underscoring the stock's volatility and the substantial hit it has taken over the past year.
InvestingPro Tips highlight that Urgent.ly is trading at a low revenue valuation multiple and analysts anticipate a sales decline in the current year. Moreover, the company has been grappling with weak gross profit margins, which stood at 21.68% for the last twelve months as of Q1 2024. These factors suggest that investors should proceed with caution, as the company's financial health may be under pressure.
For those looking to delve deeper into Urgent.ly's financials and future prospects, InvestingPro offers additional tips that could guide investment decisions. Currently, there are 11 more InvestingPro Tips available, which provide a detailed analysis of the company's performance and outlook. Interested investors can access these valuable insights at https://www.investing.com/pro/ULY and take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As Urgent.ly navigates through its financial challenges, keeping an eye on real-time data and expert analysis could be crucial for making informed investment decisions. With the latest insider sales and the broader financial context provided by InvestingPro, stakeholders have a clearer picture of the urgency and complexity surrounding the company's current situation.
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