DENVER – EverCommerce Inc. (NASDAQ:EVCM) President Matthew David Feierstein has sold a portion of his holdings in the company, according to the latest filings. On May 28, Feierstein sold 4,582 shares of EverCommerce common stock at an average price of $10.16 per share, totaling approximately $46,553.
The transaction was conducted as a block trade, with the sales price representing a weighted average calculated by the brokerage executing the sell-to-cover transactions. Details of the number of shares sold at each separate sales price are available upon request, as noted in the footnotes of the filing.
Following the sale, Feierstein's direct holdings in EverCommerce common stock amount to 2,305,612 shares. Additionally, the executive holds an indirect position of 150,000 shares through a family trust.
The sell-off by the company's president comes as investors often look to insider trading patterns for hints about the firm's prospects. Insider sales and purchases can provide valuable insights into how the top executives perceive the company's future performance and valuation.
EverCommerce, headquartered in Denver, Colorado, operates in the prepackaged software services industry, providing a suite of software solutions for service-based businesses. The company's stock is publicly traded on the NASDAQ stock exchange under the ticker EVCM.
InvestingPro Insights
EverCommerce Inc. (NASDAQ:EVCM) has been navigating a dynamic market environment, and recent insider trading activity has put the spotlight on the company's financial metrics and future prospects. According to InvestingPro data, EverCommerce holds a market capitalization of $1.84 billion, with a notable gross profit margin of 66.12% for the last twelve months as of Q1 2024. This margin reflects the company's ability to retain a significant portion of its revenue after the cost of goods sold has been deducted, which is a positive indicator of financial health.
Despite not being profitable over the past year, with a negative return on assets of -2.71% for the same period, analysts predict that EverCommerce will become profitable this year. This outlook is a key insight for investors considering the company's potential for a turnaround. Additionally, EverCommerce's liquid assets exceed its short-term obligations, providing a cushion for the company to manage its liabilities and invest in growth opportunities.
Investors should note that EverCommerce is trading at a high EBITDA valuation multiple, which could suggest that the market has high expectations for the company's future earnings. With this in mind, it's worth considering that four analysts have revised their earnings downwards for the upcoming period, which may impact the stock's performance.
For those seeking a more in-depth analysis, there are 7 additional InvestingPro Tips available for EverCommerce at https://www.investing.com/pro/EVCM. To access these valuable insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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