Ben Volkow, a director at Urgent.ly Inc. (NASDAQ:ULY), has sold a total of 9,078 shares of the company's common stock for over $16,000, according to recent filings with the Securities and Exchange Commission. The transactions occurred on June 17 and 18, with the prices per share ranging from $1.67 to $1.91.
On June 17, Volkow sold 1,978 shares at an average price of $1.8129 per share, and on the following day, he sold 7,100 shares at an average price of $1.8303 per share. These sales were part of a pre-arranged trading plan under Rule 10b5-1, which allows company insiders to set up a predetermined plan to sell stocks at a specified time.
The sales were conducted at varying prices within the specified ranges, and Volkow has committed to providing full information regarding the number of shares sold at each price upon request. After these transactions, Volkow still owns a substantial number of shares in the company, with his holdings standing at 498,688 shares of common stock.
The trading plan under which these sales were made was adopted by Volkow on November 20, 2023. Such plans are commonly used by company insiders to sell their shares over a determined period of time to avoid concerns about transactions based on non-public information.
Investors often monitor insider transactions as they can provide insights into the company's performance and insider perspectives on the stock's value. Urgent.ly Inc. specializes in computer processing and data preparation services, and its stock is publicly traded on the NASDAQ stock exchange under the ticker symbol ULY.
InvestingPro Insights
In the context of the recent insider selling by Ben Volkow at Urgent.ly Inc., a closer look at the company's financial health and market performance through InvestingPro metrics and tips may offer investors additional insights. Urgent.ly's market capitalization currently stands at a modest 22.68 million USD, reflecting a smaller enterprise that could be subject to higher volatility. The company's stock has experienced a significant downturn, with a 1-week price total return of -12.89% and a 1-year price total return of -68.23%, aligning with the InvestingPro Tips that highlight the stock's recent poor performance.
Despite being profitable over the last twelve months, with a basic EPS (Earnings Per Share) from continuing operations at 13.09 USD, Urgent.ly's revenue has seen a decline of 11.09% over the last twelve months as of Q1 2024. This is in line with analysts' expectations of a sales decline in the current year, as per InvestingPro Tips. Additionally, the company's gross profit margin stands at 21.68%, which suggests that Urgent.ly is facing challenges in maintaining higher profitability margins.
For investors considering the long-term value of Urgent.ly's shares, it is worth noting that the stock is currently trading at 13.83% of its 52-week high, and the InvestingPro fair value estimate is at 2.75 USD, which is higher than the previous close price of 1.69 USD. This discrepancy may indicate a potential undervaluation of the stock, a point of interest for value investors.
For those looking to delve deeper into Urgent.ly's financials and market prospects, InvestingPro offers 11 additional tips to guide your investment decisions. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription and gain comprehensive insights that could be crucial in making informed investment choices.
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