In a recent transaction, Ben Volkow, a director at Urgent.ly Inc. (NASDAQ:ULY), sold a portion of his holdings in the company. The transaction, which took place over two consecutive days, involved the sale of 1,700 shares of common stock at prices ranging between $1.6779 and $1.682, amounting to a total of $2,856.
The first sale occurred on June 20, 2024, with 900 shares sold at an average price of $1.682. The following day, on June 21, Volkow sold an additional 800 shares at a slightly lower average price of $1.6779. It is noted that these sales were executed in accordance with a Rule 10b5-1 trading plan, which had been previously adopted by Volkow on November 20, 2023.
Investors may find it significant that the sales were made at varying prices within specified ranges. For the June 20 transaction, shares were sold at prices from $1.67 to $1.72, while the June 21 sales ranged from $1.66 to $1.725. These detailed price ranges indicate a weighted average price for the transactions, providing transparency about the execution of the sales.
Following the transactions, Ben Volkow's ownership in Urgent.ly Inc. stands at 496,988 shares of common stock. The sales have been publicly disclosed as per regulatory requirements, ensuring that shareholders and potential investors are kept informed of changes in insider holdings.
Urgent.ly Inc., incorporated in Delaware and headquartered in Vienna, Virginia, operates within the computer processing and data preparation industry. The company's shares are traded on the NASDAQ under the ticker symbol ULY.
InvestingPro Insights
Amidst the recent insider transactions at Urgent.ly Inc. (NASDAQ:ULY), the company's financial health and market performance provide critical context for investors. According to InvestingPro data, Urgent.ly's market capitalization stands at a modest $22.01 million, reflecting a relatively small player within the industry. The company's revenue for the last twelve months as of Q1 2024 was reported at $175.17 million, yet it's important to note that there has been a decline of -11.09% in revenue during this period. This contraction aligns with analysts' expectations of a sales decline in the current year, which is also an InvestingPro Tip.
Investors should also be aware that Urgent.ly's stock has experienced a significant downturn, with a one-year price total return of -69.17%. This performance is consistent with another InvestingPro Tip highlighting that the stock has taken a substantial hit over the last six months. Additionally, the company's price at the previous close was $1.64, which is markedly below the fair value estimates of $5 by analysts and $2.66 according to InvestingPro fair value calculations.
For those considering the broader financial landscape of Urgent.ly Inc., it's worth noting that the company is currently trading at a low revenue valuation multiple. This metric, coupled with the fact that the company's short-term obligations exceed its liquid assets, may suggest a cautious approach for potential investors. However, it is also profitable over the last twelve months, which could be a silver lining for those looking at the company's ability to generate earnings.
To gain a more comprehensive understanding of Urgent.ly's financial health and stock performance, interested parties can explore additional InvestingPro Tips available. For those seeking to delve deeper, using coupon code PRONEWS24 can provide an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 11 more tips listed on InvestingPro, investors have ample resources to inform their decisions.
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