In a recent transaction, Donald R. Young, the President and CEO of Aspen Aerogels Inc . (NYSE:ASPN), sold a significant portion of his company stock, totaling over $12 million. This move comes amidst a series of transactions involving both the acquisition and disposal of shares by the executive.
On May 28 and 29, Young engaged in multiple trades selling a total of 230,658 shares at prices ranging from $29.18 to $29.58, and an additional 26,286 shares at prices between $29.59 and $30.00. He also sold 176,746 shares at prices ranging from $28.67 to $29.59. In total, these sales amounted to over $12.7 million.
In addition to these sales, the CEO acquired shares through the exercise of stock options. On May 28, he acquired 259,671 shares at $10.78 per share, 108,105 shares at $7.54 per share, and 26,577 shares at $6.40 per share. The following day, he exercised options to acquire an additional 296,771 shares at $6.40 per share. The total value for these acquisitions was approximately $5.68 million, with prices ranging from $6.40 to $10.78.
It's worth noting that the sales were reportedly made to satisfy tax withholding obligations related to the exercise of stock options, as indicated in footnotes provided with the SEC filing. The reporting person's transactions were executed pursuant to a Rule 10b5-1 trading plan previously adopted on February 26, 2024.
Following these transactions, Young's direct ownership in the company includes 418,398 shares of common stock, 47,532 restricted stock units, and 156,950 shares of restricted stock, totaling 622,880 shares.
Investors and interested parties can request detailed information about the specific prices at which the shares were sold from the Securities and Exchange Commission, the issuer, or any security holder of the issuer.
Aspen Aerogels Inc. is known for its advanced aerogel insulation technology, which is used in a variety of industrial applications. The company is incorporated in Delaware and has its business operations based in Northborough, Massachusetts.
InvestingPro Insights
Amidst the flurry of Aspen Aerogels Inc. (NYSE:ASPN) stock transactions by CEO Donald R. Young, the company's financial and market performance metrics provide additional context for investors. According to real-time data from InvestingPro, Aspen Aerogels Inc. boasts a market capitalization of $2.24 billion, reflecting its significance in the aerogel insulation market. The company's revenue has experienced substantial growth, with a 53.37% increase over the last twelve months as of Q1 2024, and an even more impressive quarterly revenue growth of 107.3% in Q1 2024. Despite these strong growth figures, the company has been operating at a loss, with a negative operating income margin of -7.6% for the same period.
An InvestingPro Tip suggests that analysts are optimistic about Aspen Aerogels Inc., predicting sales growth in the current year. Additionally, the company's stock price has seen a dramatic increase, with a one-year price total return of 335.8% as of the referenced date in 2024. This robust performance is further supported by the fact that the stock is trading near its 52-week high, at 97.32% of the peak value. However, investors should note the company's high Price / Book multiple of 4.53 and the fact that it has not been profitable over the last twelve months.
For those seeking more in-depth analysis and additional insights, there are 6 more InvestingPro Tips available for Aspen Aerogels Inc. at https://www.investing.com/pro/ASPN. These tips could provide valuable guidance for investors considering the company's stock. Moreover, users can take advantage of an exclusive offer, using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.