Oscar Health, Inc. (NYSE:OSCR) Chief Operating Officer Steven Wolin has recently sold a significant amount of company stock, according to a new SEC filing. The transactions, which took place on June 1st and June 3rd, 2024, involved the sale of 18,607 shares at an average price of $19.46 and 486 shares at an average price of $19.09, respectively. These sales resulted in a total of approximately $371,369.
The sales were executed under a pre-arranged 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading. This plan was put in place prior to February 27, 2023, to cover tax withholding obligations related to the vesting of equity awards.
The transactions were part of a series of recent moves by Wolin, which also included the acquisition of shares through the exercise of options. However, the details of these acquisitions, including the exact number of shares and the prices paid per share, were not disclosed in the filing.
Investors often scrutinize insider transactions as they can provide insights into an executive's view of the company's future prospects. In the case of Oscar Health, these sales represent a notable change in Wolin's holdings, although the reasons behind the decision remain undisclosed beyond the tax obligations mentioned.
For those interested in tracking the changes in insider holdings, the ticker for Oscar Health, Inc. on the New York Stock Exchange is NYSE:OSCR. As always, investors should consider the context of insider transactions within the broader scope of market and company performance when assessing their potential impact.
InvestingPro Insights
Amidst the recent insider trading activity at Oscar Health, Inc. (NYSE:OSCR), investors and market analysts are keeping a close eye on the company's financial health and performance metrics. The latest data from InvestingPro reveals a company that is navigating through a transformative phase with several key indicators to consider:
- The market capitalization of Oscar Health stands at $4.48 billion, reflecting the company's current valuation in the market.
- While Oscar Health's Price/Earnings (P/E) ratio is negative at -79.75, indicating that the company is not currently profitable, analysts anticipate a shift towards profitability as the net income is expected to grow this year.
- Oscar Health has experienced a substantial 45.77% revenue growth in the last twelve months as of Q1 2024, signaling robust top-line performance.
Despite the recent insider sales, Oscar Health's stock price has shown impressive resilience and growth. The "InvestingPro Tips" highlight that the stock has delivered a strong return over the last three months and an even more significant price uptick over the last six months. Moreover, with a notable one-year price total return of 157.12%, investors may be witnessing a period of heightened investor confidence in the company's trajectory.
However, potential investors should be aware of certain challenges, as Oscar Health is trading at a high Price/Book multiple of 4.41 and suffers from weak gross profit margins, standing at 21.87%. The volatility of the stock price movements is also something to consider before making investment decisions.
For a deeper analysis and additional "InvestingPro Tips," including whether analysts believe Oscar Health will maintain its positive momentum, visit InvestingPro's Oscar Health page. There are 10 more tips available that could provide valuable insights into Oscar Health's future performance. To access these tips and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.