Urgent.ly Inc. (NASDAQ:ULY) director Ben Volkow has recently sold a portion of his holdings in the company. According to the latest filings, Volkow sold a total of 2,100 shares in two separate transactions, with the total sale amounting to over $3,000.
The first transaction took place on July 24, where Volkow sold 500 shares at a weighted average price of $1.468. The sales were executed in a price range from $1.45 to $1.49. Following this sale, the director still held 544,630 shares of Urgent.ly Inc. stock. The next day, on July 25, an additional 1,600 shares were sold at a weighted average price of $1.4477, within a price range of $1.43 to $1.49. After this transaction, Volkow's holdings decreased to 543,030 shares.
These transactions were conducted under a Rule 10b5-1 trading plan, which was previously adopted by Volkow on November 20, 2023. Such a plan allows company insiders to sell a predetermined number of shares at a predetermined time to avoid accusations of insider trading.
Investors often monitor insider sales as they may provide insights into an insider’s perspective on the company's current valuation. However, it should be noted that insider selling can occur for a variety of reasons and does not necessarily indicate a negative outlook on the company's future performance.
Urgent.ly Inc. specializes in computer processing and data preparation services, and is incorporated in Delaware. The company's business address is in Vienna, Virginia. The recent transactions by director Ben Volkow are part of the normal course of investment management and portfolio adjustments.
In other recent news, Urgent.ly Inc. disclosed the outcomes of its 2024 Annual Meeting of Stockholders. The assembly led to the election of Class I directors and the ratification of the company's independent auditors for the forthcoming fiscal year. Gina Domanig and Ryan Pollock were elected as Class I directors, with their tenure set until the 2027 annual meeting or until successors are elected and qualified. The shareholders also unanimously approved the appointment of CohnReznick LLP as the independent registered public accounting firm for Urgent.ly Inc. for the fiscal year ending December 31, 2024. These are among the recent developments that have taken place within the company. It's important to note that the meeting saw a quorum with 51.07% of the voting power of all issued and outstanding shares of common stock represented in person or by proxy. The matters voted upon are further detailed in the definitive proxy statement filed with the Securities and Exchange Commission.
InvestingPro Insights
As investors assess the recent insider transactions at Urgent.ly Inc. (NASDAQ:ULY), it's crucial to consider the company's broader financial context. According to real-time data from InvestingPro, the company has a market capitalization of $19.19 million and has experienced a revenue decline of 11.09% over the last twelve months as of Q1 2024. This aligns with the InvestingPro Tips suggesting that analysts are expecting a sales decline in the current year. Moreover, Urgent.ly's gross profit margin stands at 21.68%, indicating potential challenges in maintaining profitability.
With a current P/E ratio at an unusually low 0.25, and an adjusted P/E ratio of -1.92 for the last twelve months as of Q1 2024, the company may be trading at a low revenue valuation multiple. This could be a point of interest for value investors, particularly when considering the InvestingPro Tips that highlight the stock's significant price drop over the last year, with a year-to-date price total return of -54.89% as of the latest data provided.
For those looking to delve deeper into Urgent.ly's financial health and stock performance, there are additional InvestingPro Tips available. These tips provide insights such as the company's cash burn rate and its short-term obligations versus liquid assets, which are critical factors for assessing the company's financial stability. Urgent.ly does not pay a dividend to shareholders, which could be relevant for income-focused investors.
Investors interested in gaining more comprehensive insights into Urgent.ly's financial metrics and stock performance can explore the full suite of tips and data on InvestingPro. Moreover, for those considering a subscription, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. There are 11 additional InvestingPro Tips available for Urgent.ly, which can be found at https://www.investing.com/pro/ULY, providing a more nuanced view of the company's prospects.
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