Urgent.ly Inc. (NASDAQ:ULY) director Ben Volkow has sold a total of 1,300 shares of company stock on April 22nd and 23rd, according to a recent SEC filing. The transactions, which were executed under a pre-arranged trading plan, totaled approximately $2,123 in value.
The shares were sold at weighted average prices, with the April 22nd sale of 700 shares at an average price of $1.6318 per share, and the April 23rd sale of 600 shares at an average price of $1.635 per share. The prices for the shares sold ranged from $1.61 to $1.675, inclusive.
Following these transactions, Volkow's direct holdings in Urgent.ly Inc. have decreased, but he still maintains a substantial stake in the company with 545,044 shares remaining in his possession. These sales were conducted in accordance with a Rule 10b5-1 trading plan, which Volkow had adopted on November 20, 2023.
Investors and shareholders of Urgent.ly Inc. may request detailed information about the specific prices at which the shares were sold within the reported range by contacting the reporting person or the SEC. This information can provide further insight into the trading activity and price points for the stock sales.
The filing was signed on behalf of Ben Volkow by Timothy Huffmyer, by power of attorney, indicating that the transactions were pre-planned and not based on Volkow's direct market activity at the time of the sale.
InvestingPro Insights
As Urgent.ly Inc. (NASDAQ:ULY) director Ben Volkow's recent stock sales draw attention, a deeper dive into the company's financial health and market performance is warranted. An examination of real-time data and expert analysis from InvestingPro provides a clearer picture of the company's current standing.
InvestingPro data highlights a stark reality for Urgent.ly: the company's market capitalization stands at a modest 22 million USD, reflecting a rather small scale in the market. This is coupled with a negative adjusted P/E ratio for the last twelve months as of Q4 2023, which sits at -1.87, suggesting that investors are concerned about the company's profitability. Additionally, the company's revenue has seen a decline, with a -1.57% change over the last twelve months and a more significant quarterly drop of -13.31% in Q4 2023.
On the upside, Urgent.ly's liquid assets surpass its short-term obligations, providing some cushion against immediate financial pressures. However, two InvestingPro Tips are particularly relevant given Volkow's stock sales. Firstly, the company is quickly burning through cash, a situation that may have influenced the director's decision to sell shares. Secondly, analysts anticipate a sales decline in the current year, which could further impact the company's financial stability and stock performance.
For investors considering Urgent.ly Inc. as a potential addition to their portfolio, these insights are invaluable. The company's stock has fared poorly over the last month, with a price total return of -13.68%. It is also trading at a low revenue valuation multiple, which could either suggest a buying opportunity for value investors or a red flag signaling underlying issues.
To gain a more comprehensive understanding of Urgent.ly's financial outlook, investors can access additional InvestingPro Tips by visiting https://www.investing.com/pro/ULY. There are a total of 13 tips available, which can be further explored with an additional 10% off a yearly or biyearly Pro and Pro+ subscription using the coupon code PRONEWS24.
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