HERNDON, Va.—Henry Dubois, the Chief Financial Officer of BlackSky Technology Inc. (NYSE:BKSY), recently sold a portion of his holdings in the company, according to a regulatory filing. The transaction, which took place on December 10, involved the sale of 7,938 shares of Class A Common Stock at a price of $10.65 per share, totaling approximately $84,539. The sale comes as BlackSky's stock has shown strong momentum, with a 32% gain over the past six months and currently trades near $10.54, maintaining impressive gross profit margins of nearly 70%.
This sale was conducted to cover statutory tax withholding obligations related to the vesting of Restricted Stock Units (RSUs) and does not represent a discretionary sale by Dubois. Following this transaction, Dubois now holds 420,779 shares in BlackSky Technology.
Investors often pay close attention to insider transactions for potential insights into the company's future performance.
In other recent news, BlackSky Technology reported substantial growth in its Third Quarter 2024 Earnings Conference Call. The company highlighted significant achievements such as securing contracts worth up to $780 million, raising over $45 million for its upcoming Gen 3 satellite constellation, and maintaining a positive adjusted EBITDA for the fourth consecutive quarter. Notably, BlackSky's year-to-date revenue saw a 22% increase compared to the previous year.
The company also announced plans for its first Gen 3 satellite, with a launch window set for early 2025. As part of its financial outlook, BlackSky stated it expects to meet full-year financial goals, despite some timing delays, and anticipates approximately $26 million in milestone payments over the next 12 months.
These recent developments underscore BlackSky's strong demand for its space-based intelligence solutions and its strategic efforts to capitalize on the growing commercial space analytics market.
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