(NASDAQ:ANGI) Chief Technology Officer Kulesh Shanmugasundaram recently sold a total of 11,748 shares of the company's Class A common stock, according to a new filing with the Securities and Exchange Commission. The transaction, which executed on May 1, 2024, was worth more than $25,023, with the shares sold at an average price of $2.13.
The sale was conducted pursuant to a prearranged Rule 10b5-1 trading plan, which allows company insiders to prepare a prearranged plan to sell stock at a time when they do not have material nonpublic information, providing a defense against claims. From insider trading. The share price at Shanmugasundaram's sale ranged from $2.10 to $2.18, reflecting the weighted average shown by the SEC filing.
Following the sale, Shanmugasundaram still owns a significant stake in Angi Inc., with 160,506 shares remaining in his direct ownership. Investors often monitor insider transactions as they can provide insight into the CEO's view on the company's current valuation and future prospects.
Angi Inc., known for its services in the advertising industry, is headquartered in New York and operates under Delaware incorporation. The company has undergone name changes in the past, and was formerly known as ANGI Homeservices (NASDAQ:) Inc. And before that as Halo TopCo, Inc.
The reported transaction provides investors with an update on insider activity at Angi Inc., which can serve as valuable information when evaluating the company's stock performance and making investment decisions.
InvestingPro Insights
Since Angi Inc. (NASDAQ:ANGI) is navigating the dynamic advertising sector, and the recent movements in the company's stock and financial metrics provide a clearer picture of its current market position. With a market capitalization of approximately $1.1 billion, Angi is a prominent player in its industry. The company's P/E ratio is -26.98, reflecting the market's expectations of future earnings growth, even though the company has not generated profits in the past twelve months.
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InvestingPro data reveals that Angi's revenue for the past twelve months as of Q4 2023 was $1.358 billion, with a significant gross profit margin of 95.43%. However, this comes alongside a revenue decline of approximately 23% over the same period. The company's operating income margin was -1.95%, indicating challenges to profitability despite high gross margins.
InvestingPro tips note that Angi's share price has seen volatility, with a significant price rise over the past six months of 35.26%, however it has performed poorly over the past month with a decline of 18.22%. Analysts expect the company to become profitable this year, which could be a pivotal point for investors given the stock's recent performance. In addition, Angi's liquid assets exceed its short-term liabilities, providing some financial stability in the face of its moderate debt level.
For investors looking for a more in-depth analysis, there are 9 additional InvestingPro tips available for Angi Inc. At https://www.investing.com/pro/ANGI. To further enrich your investment strategy, use a coupon code Pronews24 Get an extra 10% off Pro and Pro+ subscriptions annually or every two years.
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