Urgent.ly Inc. (NASDAQ:ULY) director Ben Volkow recently sold a total of 2,400 shares of company stock, according to the latest SEC filings. The transactions, carried out under a pre-arranged trading plan, saw shares sold in multiple transactions with a combined total value exceeding $4,300.
The first set of transactions involved the sale of 1,400 shares at weighted average prices ranging from $1.85 to $1.87, resulting in a total value of approximately $2,600. The second set, conducted a few days later, consisted of 1,000 shares sold at weighted average prices between $1.76 and $1.85, totaling around $1,800.
Following these sales, Volkow's remaining ownership in Urgent.ly Inc. stands at 520,466 shares of common stock. The transactions took place under a Rule 10b5-1 trading plan, which was adopted by Volkow on November 20, 2023. This plan allows company insiders to establish pre-arranged plans to buy or sell shares at a predetermined time to avoid accusations of insider trading.
Investors and the market often monitor insider sales as they may provide insights into an insider’s perspective on the company's current valuation and future prospects. Urgent.ly Inc., a company in the computer processing and data preparation sector, has not provided any additional comments on the transactions.
The SEC filing indicates that full information regarding the number of shares sold at each separate price within the stated ranges will be provided upon request. This transparency is in line with regulatory requirements and provides shareholders with a clearer picture of insider trading activities.
InvestingPro Insights
Amidst the recent insider trading activity at Urgent.ly Inc. (NASDAQ:ULY), investors may seek additional context to better understand the company's financial health and market performance. InvestingPro data indicates a challenging landscape for Urgent.ly, with a significant 23.49M USD market capitalization that reflects the company's current market value. Notably, Urgent.ly's stock has experienced a substantial decline, with a -67.11% one-year price total return, which aligns with the InvestingPro Tip highlighting the stock's significant hit over the last year.
InvestingPro metrics further reveal a concerning revenue trend, with a -11.09% revenue growth over the last twelve months as of Q1 2024. This is coupled with a gross profit margin of 21.68%, which, although positive, is considered weak by industry standards and is in line with another InvestingPro Tip pointing to the company's suffering from weak gross profit margins.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available that delve into aspects such as cash burn rate, sales decline expectations, and the company's liquidity challenges. Urgent.ly's financials and stock performance metrics, including these tips, can be found at https://www.investing.com/pro/ULY. For those interested in accessing these insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes a total of 12 additional InvestingPro Tips to help investors make informed decisions.
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