Urgent.ly Inc. (NASDAQ:ULY), a company specializing in computer processing and data preparation services, recently disclosed a series of transactions by director Ben Volkow. The report showed that Volkow sold a total of 1,000 shares of Urgent.ly Inc. stock for a combined value of approximately $1,694.
The sales took place over two days, with 300 shares sold at an average price of $1.6636 on June 26, and 700 shares at an average price of $1.7071 on June 27. The shares sold on June 26 were part of multiple transactions ranging from $1.60 to $1.715. On June 27, the shares were also sold in multiple transactions, with prices ranging between $1.70 and $1.73.
In addition to the sales, Volkow also acquired 77,320 shares of Urgent.ly Inc. common stock on June 26. These shares are represented by restricted stock units (RSUs) and are subject to vesting conditions. According to the filing, the RSUs will vest on the earlier of June 26, 2025, or the date of the company's next annual meeting of stockholders.
The transactions were conducted under a Rule 10b5-1 trading plan, which was adopted by Volkow on November 20, 2023. Such plans allow company insiders to establish pre-planned transactions to sell stocks at a predetermined time, which can provide a defense against claims of insider trading.
Following the reported transactions, Volkow's ownership in Urgent.ly Inc. stands at 571,508 shares. The company's stock is traded on the NASDAQ under the ticker symbol ULY. Urgent.ly Inc. has its headquarters in Vienna, Virginia, and is incorporated in Delaware.
In other recent news, Urgent.ly Inc. has announced the outcomes of its 2024 Annual Meeting of Stockholders, which included the election of directors and the ratification of auditors. Class I directors Gina Domanig and Ryan Pollock were elected to serve until the 2027 annual meeting, with Domanig receiving 2,988,213 votes in favor and Pollock 2,990,224. In another significant development, CohnReznick LLP was unanimously approved as the independent registered public accounting firm for the upcoming fiscal year with 6,835,131 votes. These are among the recent developments that took place at the meeting, which had 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
Urgent.ly Inc. (NASDAQ:ULY) has been navigating a challenging financial landscape, as reflected in recent data and analysis. An InvestingPro Tip highlights that analysts are expecting a sales decline in the current year, which is corroborated by a reported -11.09% revenue growth over the last twelve months as of Q1 2024. This is a significant figure that potential investors should consider, especially when looking at the company's future revenue streams.
The financial health of Urgent.ly Inc. is further brought into question by another InvestingPro Tip, which points out that the company's short-term obligations exceed its liquid assets. This could indicate potential liquidity issues that might affect the company's ability to meet its immediate financial obligations.
From an investment valuation standpoint, the company's Market Cap stands at a modest 23.49M USD, with a negative Price / Book ratio of -8.72 as of Q1 2024, suggesting that the market values the company at less than the net value of its assets. Additionally, Urgent.ly Inc. is trading at a low revenue valuation multiple, which could be seen as an opportunity by some investors who believe the stock is undervalued or as a red flag by others concerned about the company's prospects.
For readers looking to delve deeper into the financials and forecasts for Urgent.ly Inc., InvestingPro offers a total of 10 additional InvestingPro Tips at https://www.investing.com/pro/ULY. These tips provide a more comprehensive analysis of the company's financial health and future outlook. To access these insights, users can take advantage of the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing their investment research tools.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.