In a recent transaction on May 28, Lisa E. Storey, the Chief Legal Officer of EverCommerce Inc. (NASDAQ:EVCM), sold 1,293 shares of the company's common stock. The total value of the shares sold amounted to approximately $13,136, with the shares being sold at a weighted average price of $10.16. The sale was executed as a block trade in multiple transactions.
The transaction details were disclosed in a Form 4 filing with the Securities and Exchange Commission. According to the footnote in the filing, the price reported is a weighted average calculated by the broker, and Storey has agreed to provide full information regarding the number of shares sold at each separate sales price upon request.
Following the transaction, Storey continues to hold a significant number of shares directly, with a reported 174,201 shares in her possession. Additionally, there is an indirect ownership of 2,941 shares by her spouse. The sale of stock by an executive is often closely watched by investors as it may provide insights into the executive's view of the company's current valuation and future prospects.
EverCommerce Inc., headquartered in Denver, Colorado, operates in the prepackaged software industry and is known for providing a suite of software solutions for service-based businesses. The company's stock is publicly traded on the NASDAQ exchange under the ticker symbol EVCM.
InvestingPro Insights
EverCommerce Inc. (NASDAQ:EVCM) has been navigating a complex market landscape, with recent transactions by executives sparking interest among investors. As we assess the company's financial health and market performance, certain metrics and insights provided by InvestingPro may shed light on the broader picture.
An important note for investors is that EverCommerce's net income is expected to grow this year, according to InvestingPro Tips. This anticipation of growth could signal underlying strength in the company's business model and market position. On the other hand, investors should be aware that 4 analysts have revised their earnings downwards for the upcoming period, which might indicate potential headwinds or a more conservative outlook for the company's near-term performance.
From a valuation standpoint, EverCommerce's market capitalization stands at $1.84 billion, reflecting the company's scale in the prepackaged software industry. Despite not being profitable over the last twelve months, the company is trading at a high EBITDA valuation multiple, which could suggest that investors are expecting future profitability and growth. The revenue growth over the last twelve months as of Q1 2024 has been recorded at 7.21%, demonstrating the company's ability to expand its top-line figures in a competitive market.
For investors looking to delve deeper into EverCommerce's financials and future prospects, InvestingPro offers a wealth of additional tips, with a total count of 7 more insights available to guide investment decisions. To access these insights and enhance your investment strategy, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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