In a recent transaction, Ben Volkow, a director at Urgent.ly Inc. (NASDAQ:ULY), sold a total of 2,700 shares of the company's common stock, resulting in proceeds exceeding $5,000. According to the details provided, the sales occurred on May 24 and May 28, with prices per share ranging between $1.9137 and $1.97.
The first sale on May 24 involved 200 shares at an average price of $1.97, while the larger transaction on May 28 consisted of 2,500 shares sold at an average price of $1.9137. The transactions were executed under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which Volkow had adopted on November 20, 2023.
Following these transactions, Volkow's direct ownership in Urgent.ly Inc. stands at 523,966 shares. The sales were part of a series of multiple transactions, with the prices for the shares sold on May 24 ranging from $1.95 to $1.99, and those on May 28 ranging from $1.825 to $1.98. More detailed information regarding the number of shares sold at each price point within these ranges is available upon request from the issuer, any security holder of the issuer, or the Securities and Exchange Commission staff.
The transactions were publicly disclosed in accordance with the Securities and Exchange Commission regulations, ensuring transparency for investors and the market. Urgent.ly Inc., based in Vienna, Virginia, operates in the computer processing and data preparation sector, and continues to be a subject of interest for investors tracking insider trading activities.
InvestingPro Insights
The recent insider trading activity involving Ben Volkow, a director at Urgent.ly Inc. (NASDAQ:ULY), comes at a time when the company's stock has been facing significant challenges. An InvestingPro Tip highlights that Urgent.ly's stock has suffered a substantial decline over the last week, aligning with the timing of Volkow's sales. Additionally, the company's stock has taken a considerable hit over the last six months, shedding over half of its value, which could have influenced the decision to sell.
Looking at the real-time metrics from InvestingPro, Urgent.ly Inc. currently holds a market capitalization of $25.64 million and is trading at a low revenue valuation multiple, suggesting that the market may be undervalizing the company's revenue potential. Moreover, the company's revenue for the last twelve months as of Q1 2024 stands at $175.17 million, although it has experienced a decline of 11.09% during this period.
Investors considering Urgent.ly Inc. as an investment opportunity should be aware that the company's stock generally trades with high price volatility, as indicated by one of the InvestingPro Tips. For those looking to delve deeper into Urgent.ly's financials and future prospects, InvestingPro offers a wealth of additional tips—11 more to be exact—that can provide further insights into the company's performance and valuation. To access these insights, potential investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing their investment research with valuable data and analysis.
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