EverCommerce Inc. (NASDAQ:EVCM), a leading service provider in the software industry, witnessed a recent transaction from its Chief Legal Officer, Lisa E. Storey, who sold company shares. The sales occurred on May 30 and May 31, 2024, with a total value exceeding $145,000.
The transactions involved a sale of 3,705 shares on May 30 at an average price of $9.88 and a subsequent sale of 11,233 shares on May 31 at an average price of $9.66. The prices for these sales ranged from $9.60 to $9.93, as indicated by the weighted average prices reported. These shares were sold in multiple transactions within the price ranges specified.
Following the sales, Storey still retains a substantial stake in EverCommerce, with 170,496 shares after the May 30 transaction and 159,263 shares after the final sale on May 31. Additionally, it is noted that an indirect ownership of 2,941 shares is held by Storey's spouse.
Investors and followers of EverCommerce's market activities can take note of these transactions as part of the ongoing financial developments within the company. The sales by a high-ranking officer such as the Chief Legal Officer are often of interest to the market, reflecting movements within the company's internal stakeholders.
For those interested in the specifics of the transactions, including the number of shares sold at each separate price within the reported ranges, the reporting officer has committed to providing full information upon request to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.
EverCommerce has not made any official statement regarding the transactions, and it remains a matter of public record as part of the company's regular financial disclosures.
InvestingPro Insights
As EverCommerce Inc. (NASDAQ:EVCM) navigates through its financial year, certain metrics and analyst insights provide a deeper understanding of the company's position. According to InvestingPro data, EverCommerce currently holds a market capitalization of $1.74 billion, with a notable revenue growth of 7.21% over the last twelve months as of Q1 2024. This growth is backed by a solid gross profit margin of 66.12%, reflecting the company's ability to maintain profitability in its core operations.
An InvestingPro Tip highlights that despite not being profitable over the last twelve months, analysts are optimistic about EverCommerce's prospects, predicting the company will turn a profit this year. This sentiment is further corroborated by the company's liquid assets, which are reported to exceed its short-term obligations, providing a cushion for operational flexibility. On the flip side, a cautionary note from analysts is seen with four of them revising their earnings estimates downwards for the upcoming period, which may warrant attention from investors.
For those closely following EverCommerce's financial trajectory, InvestingPro offers additional insights, with a total of 7 InvestingPro Tips available for the company, which can be accessed at https://www.investing.com/pro/EVCM. These tips could provide valuable context to the recent share sales by the Chief Legal Officer, Lisa E. Storey. Moreover, for a more comprehensive analysis, investors can 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 at InvestingPro.
Overall, the internal share transactions and the latest financial data from EverCommerce suggest a complex picture, where strategic decisions by company executives and market expectations are closely intertwined. Investors are encouraged to consider these factors in conjunction with broader market analysis to make informed decisions.
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