Urgent.ly Inc. (NASDAQ:ULY) Director Ben Volkow has recently sold a portion of his holdings in the company. The transactions, which took place on July 12 and July 15, involved a total of 4,978 shares of Urgent.ly's common stock, resulting in proceeds exceeding $7,000.
According to the details provided, the sales were executed at weighted average prices, with the shares on July 12 being sold at an average price of $1.4305 and those on July 15 at $1.4798. However, the prices varied within a range; the July 12 sales occurred between $1.38 and $1.59, while the July 15 sales were between $1.44 and $1.55.
The transactions were made under a pre-arranged 10b5-1 trading plan, which was adopted by Volkow on November 20, 2023. Such plans allow company insiders to sell a predetermined number of shares at a predetermined time, providing an affirmative defense against accusations of trading on non-public, material information.
Following these sales, Ben Volkow still holds a substantial number of shares in the company, with his ownership standing at 556,030 shares of Urgent.ly Inc.'s common stock.
Investors and followers of Urgent.ly Inc. can request more detailed information about the transactions from the reporting person, as noted in the footnotes of the SEC filing.
The sales by Director Volkow have been publicly disclosed in accordance with SEC regulations, providing transparency into the trading activities of Urgent.ly Inc.'s insiders.
In other recent news, Urgent.ly Inc. has announced the outcomes of its 2024 Annual Meeting of Stockholders. The shareholders made crucial decisions, including the election of Class I directors and the ratification of the company's independent auditors for the upcoming fiscal year. Gina Domanig and Ryan Pollock were elected as Class I directors, with their tenure to last until the 2027 annual meeting or until their successors are elected and qualified.
In addition to this, shareholders unanimously approved the appointment of CohnReznick LLP as the independent registered public accounting firm for Urgent.ly Inc. for the fiscal year ending December 31, 2024. These developments are part of the recent activities within the company. The election and appointment decisions were made with 51.07% of the voting power of all issued and outstanding shares of common stock represented in person or by proxy.
InvestingPro Insights
As Urgent.ly Inc. (NASDAQ:ULY) navigates through its financial landscape, recent metrics from InvestingPro highlight a mixed picture. With a market capitalization of just $19.33 million, the company is relatively small, which can often mean higher volatility in stock performance. Despite a notable dip in revenue over the last twelve months, with a -11.09% decline, Urgent.ly's gross profit margin remains at 21.68%, which may suggest some resilience in its business model amidst the downturn.
However, the company's stock price has seen significant pressure, as reflected by a -72.93% one-year price total return, which aligns with the InvestingPro Tip that the stock has fared poorly over the last month and has taken a big hit over the last six months. This could potentially be a point of concern for investors like Ben Volkow, who might be seeking to manage their exposure to the company's fluctuating performance.
Moreover, Urgent.ly's P/E ratio stands at a negative -1.96, indicating that investors are not expecting earnings growth in the near future, which is corroborated by another InvestingPro Tip that analysts anticipate a sales decline in the current year. This might be a factor contributing to insider trading decisions, as insiders may adjust their positions based on both personal portfolio strategies and their outlook on the company's financial health.
For investors looking for deeper insights, there are additional InvestingPro Tips available, which could provide further context on Urgent.ly's financial situation and future prospects. Those interested in a comprehensive analysis can find more tips and data at Investing.com/pro/ULY. For access to these insights, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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