ZeroFox Holdings, Inc. (NASDAQ:ZFOX), a company specializing in business services, has reported a recent stock transaction involving one of its top executives. Thomas P. FitzGerald, the firm's General Counsel & Secretary, sold shares totaling approximately $19,135.
The transaction, which took place on March 18, 2024, involved the sale of 17,085 shares at a price of $1.12 each. This sale was not a discretionary trade by FitzGerald but rather a required action to cover tax withholding obligations connected to the vesting of restricted stock units, as indicated by the company's equity incentive plans.
Following this transaction, FitzGerald's holdings in ZeroFox Holdings consist of 79,162 shares of common stock and 409,853 unvested restricted stock units, amounting to a total of 489,015 shares owned after the sale. The nature of ownership is reported to be direct.
ZeroFox Holdings has not provided any further comments on this transaction. The details of the sale, including the price and number of shares, were made public through a Form 4 filing with the Securities and Exchange Commission, dated March 19, 2024.
InvestingPro Insights
ZeroFox Holdings, Inc. (NASDAQ:ZFOX) has been navigating through a challenging financial landscape, as reflected in the recent stock transaction by one of its top executives. InvestingPro Tips indicate that the company operates with a significant debt burden and that its short-term obligations exceed its liquid assets. This context may offer some insight into the executive's decision to sell shares for tax withholding purposes.
From a financial data perspective, ZeroFox's market capitalization stands at $138.58 million, underscoring its position in the business services sector. Despite the company's significant revenue growth over the last twelve months, reaching an impressive 98.35%, it has been unable to translate this into profitability. In fact, the company's P/E Ratio, as of Q4 2024, is negative at -1.22, which aligns with analysts' expectations that ZeroFox will not be profitable this year.
An interesting metric to note is the company's strong return over the last three months, with a 84.75% price total return. This could signal investor confidence in the company's growth potential or strategic direction, despite the absence of dividends, as ZeroFox does not pay out to shareholders.
For readers interested in a deeper analysis, there are additional InvestingPro Tips available that could provide further insights into ZeroFox's financial health and future prospects. To explore these tips and leverage the comprehensive tools offered by InvestingPro, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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