Ben Volkow, a director at Urgent.ly Inc. (NASDAQ:ULY), has recently sold a significant number of company shares, transactions totaling over $9,500. The sales took place on two consecutive days, with Volkow disposing of 3,300 shares at an average price of $1.4718 on July 18, and another 3,100 shares at an average price of $1.5086 on July 19.
The transactions were executed within a price range of $1.42 to $1.54 for the shares sold across both days. The reported sales were made in accordance with a Rule 10b5-1 trading plan, which was previously adopted by Volkow on November 20, 2023. This trading plan allows company insiders to set up a predetermined schedule to buy or sell stocks at a time when they are not in possession of material non-public information.
Following these transactions, Volkow still retains a substantial stake in Urgent.ly Inc., with 549,630 shares remaining in his direct ownership. The sales represent a small fraction of his overall holdings in the company, indicating a trimming rather than a major shift in his position.
Investors often monitor insider trading activities as an indicator of a company's internal sentiment. Transactions under Rule 10b5-1 provide company insiders with the ability to trade shares without facing potential accusations of insider trading, as these plans are set up in advance and executed irrespective of any subsequent non-public information the insider might receive.
Urgent.ly Inc., incorporated in Delaware and based in Vienna, Virginia, operates in the computer processing and data preparation sector. The company's stock trades on the NASDAQ under the ticker symbol ULY.
In other recent news, Urgent.ly Inc. has been the center of key developments. The company's shareholders recently convened for their 2024 Annual Meeting, where they elected Class I directors and ratified independent auditors for the upcoming fiscal year. Gina Domanig and Ryan Pollock were elected as Class I directors, expected to serve until the 2027 annual meeting. The shareholders also ratified the appointment of CohnReznick LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024. These developments are part of the company's recent activities and have been documented in the definitive proxy statement filed with the Securities and Exchange Commission. This information is crucial for investors as it provides insight into the company's governance and financial oversight.
InvestingPro Insights
As investors digest the recent insider trading activity of Urgent.ly Inc. (NASDAQ:ULY), it’s worth considering some key financial metrics and expert analysis from InvestingPro. With a current Market Cap of $20M USD, Urgent.ly Inc. is navigating through a challenging period, reflected in its significant price drop over the past year, with a -71.99% 1 Year Price Total Return.
InvestingPro Tips suggest caution, highlighting the company's rapid cash burn and weak gross profit margins, which stand at 21.68% for the last twelve months as of Q1 2024. Analysts also anticipate a sales decline in the current year, with revenue growth down by -11.09% in the same period. These factors contribute to the stock trading at a low revenue valuation multiple, an important consideration for potential investors.
Moreover, InvestingPro Tips indicate that Urgent.ly Inc. is currently trading at a deep discount, with a P/E Ratio (Adjusted) of -2.02 as of Q1 2024, suggesting that the market may have overly penalized the stock. This could represent an opportunity for value investors, especially considering the company's profitable status over the last twelve months.
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