Urgent.ly Inc. (NASDAQ:ULY) director Ben Volkow has recently sold a portion of his holdings in the company, according to the latest SEC filings. The transactions, which took place over two consecutive days, resulted in a total sale value of over $2800.
On May 22, 2024, Volkow sold 400 shares at a weighted average price of $2.0643 per share. These shares were sold in multiple transactions with prices ranging from $2.05 to $2.08. The following day, Volkow continued to divest, selling 1000 shares at a weighted average price of $2.0047, with individual sales prices ranging from $1.96 to $2.06. Following these sales, Volkow still retains a significant stake in the company, with 526,666 shares remaining in his possession.
The sales were conducted under a Rule 10b5-1 trading plan, which Volkow had adopted on November 20, 2023. Such plans allow company insiders to establish pre-planned transactions at a time when they are not in possession of material non-public information, providing an affirmative defense against accusations of insider trading.
Investors often keep a close eye on insider transactions as they can provide valuable insights into the company's performance and the confidence that executives and directors have in the business's future. However, it is also common for insiders to sell shares for personal financial planning, diversification, or other non-company-related reasons.
For those interested in the specifics of the transactions, Volkow has agreed to provide full information regarding the number of shares sold at each separate price upon request to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.
Urgent.ly Inc. specializes in computer processing and data preparation, and these recent transactions by a high-level insider will likely be of interest to current and potential investors as they assess the company's stock performance and insider sentiment.
InvestingPro Insights
As Urgent.ly Inc. (NASDAQ:ULY) navigates the market, recent insider transactions have caught the attention of investors. With director Ben Volkow's sale of company shares, it's crucial to consider the underlying financial metrics and market performance that may influence such decisions. InvestingPro data provides a snapshot of the company's current standing:
- Market Cap (Adjusted): 27.52M USD, indicating the company's relatively small size in the market which may contribute to high price volatility.
- Revenue Growth (Quarterly) for Q1 2024: -19.13%, suggesting a challenging period for the company with declining sales.
- Price, Previous Close: 2.05 USD, reflecting the recent price levels at which Volkow's transactions occurred.
InvestingPro Tips also shed light on some critical aspects:
- The stock has experienced a significant decline over the last six months, with a 6 Month Price Total Return of -48.69%, aligning with the insider sales.
- Urgent.ly is trading at a low revenue valuation multiple, which might attract investors looking for potential undervalued opportunities.
These insights suggest that while Urgent.ly Inc. faces financial headwinds, with analysts anticipating a sales decline in the current year, the company's stock may also present opportunities for value investors. For those seeking additional analysis, there are 13 more InvestingPro Tips available, which can be accessed through the dedicated company page on InvestingPro. To deepen your investment research, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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