Urgent.ly Inc. (NASDAQ:ULY) Director Ben Volkow has recently sold shares of the company, according to the latest SEC filings. The transactions, which occurred on May 29 and May 30, 2024, involved a total sale of 1,100 shares for an aggregate amount exceeding $2,000.
On May 29, Volkow sold 100 shares at a price of $1.91 each. The following day, he sold an additional 1,000 shares at a weighted average price of $1.9385, with individual transactions ranging from $1.85 to $1.97. The sales were conducted under a Rule 10b5-1 trading plan, which had been previously adopted on November 20, 2023.
After these transactions, Volkow still holds a significant stake in the company, with 522,866 shares of Urgent.ly Inc. remaining in his possession. The automated trading plan allows company insiders to establish pre-arranged plans to buy or sell company stock at a predetermined time, providing a legal defense against potential accusations of insider trading.
Investors often monitor insider sales as they may provide insights into an insider’s view of the company's future performance. However, it's important to note that there can be various reasons for an insider to sell shares, and such transactions do not necessarily indicate a lack of confidence in the company.
Urgent.ly Inc. continues to operate in the computer processing and data preparation industry, with its shares publicly traded on the NASDAQ exchange. The recent filings provide transparency into the trading activities of the company's directors and are available for public review.
InvestingPro Insights
As Urgent.ly Inc. (NASDAQ:ULY) navigates through the market, recent insider transactions have caught the attention of investors. With Director Ben Volkow's sale of shares, it's worth considering the company's financial health and market performance. According to InvestingPro data, Urgent.ly Inc. has a market capitalization of approximately $26.17 million, reflecting its size within the computer processing and data preparation industry. The company's revenue in the last twelve months as of Q1 2024 stands at $175.17 million, with a noted decline of 11.09% during that period. This contraction in revenue is further evidenced by a quarterly decrease of 19.13% in Q1 2024.
Despite the challenges, Urgent.ly Inc. has experienced a strong return over the last month, with a 20.37% increase in its stock price. This contrasts with a 55.48% drop over the past six months and a 63.35% decline over the last year, highlighting the stock's high volatility, as indicated by one of the InvestingPro Tips. Additionally, the company's gross profit margin remains low at 21.68%, underscoring concerns about its profitability.
Investors considering Urgent.ly Inc. should be aware of these key metrics, and those looking for more comprehensive analysis can find additional insights with InvestingPro Tips. For instance, the company is currently trading at a low revenue valuation multiple, and its short-term obligations exceed its liquid assets, which could signal potential liquidity risks. Moreover, the valuation implies a poor free cash flow yield, which is crucial for assessing the company's financial health.
For investors seeking to delve deeper into Urgent.ly's financial landscape, there are 12 additional InvestingPro Tips available at Investing.com/pro/ULY. To enhance your investment strategy, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable market insights.
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