23andMe executive sells $17.9k in stock
ME
-8.17%
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In a recent transaction, Kathy L. Hibbs, the Chief Administrative Officer of 23andMe Holding Co. (NASDAQ:ME), sold shares of the company’s stock, according to a new SEC filing. The transaction involved the sale of 38,548 shares at a weighted average price of $0.4642, totaling approximately $17,893. This sale was executed automatically under a Rule 10b5-1 trading plan previously adopted on March 9, 2023.
On the same day, Hibbs also acquired 38,548 shares through stock option exercises at a price of $0.42 per share, amounting to a total of $16,190. The exercise of these options was part of an arrangement where the stock options vested 25% after 12 months of service, with the remaining options vesting on a pro rata basis over the following 36 months, beginning April 1, 2014.
Following these transactions, Hibbs’s direct ownership in 23andMe Holding Co. stands at 1,252,315 shares of Class A Common Stock. The sale price for the shares ranged from $0.4600 to $0.4748, and full details regarding the number of shares sold at each separate price will be provided upon request by the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
Investors and observers of 23andMe Holding Co. often monitor such transactions as they can provide insights into executives’ perspectives on the company’s current valuation and future prospects.
InvestingPro Insights
Amid the recent insider transaction at 23andMe Holding Co. (NASDAQ:ME), the market’s perspective on the company’s valuation and future can be further understood by looking at some key metrics and analyst insights. 23andMe’s market capitalization currently stands at a modest $193.17 million, reflecting the scale of the business in the competitive biotechnology market. Despite this, the firm’s revenue for the last twelve months as of Q3 2024 shows a decline of 19.4%, indicating challenges in growth.
InvestingPro Tips suggest that 23andMe is trading at a low revenue valuation multiple, which might attract investors looking for potentially undervalued stocks. However, analysts also anticipate a sales decline in the current year, which could be a point of concern for potential investors. These insights are part of a broader analysis available on InvestingPro, which includes additional tips to help investors make informed decisions.
From a financial health standpoint, 23andMe’s liquidity position appears robust, with the company holding more cash than debt on its balance sheet. This could provide some comfort to investors regarding the company’s ability to meet its short-term obligations. Moreover, the company’s gross profit margin stands at 45.3%, which is a positive sign of its ability to control costs relative to revenue.
For those interested in further analysis and tips, including whether the company is expected to become profitable this year, more insights can be found on InvestingPro. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover the full range of InvestingPro Tips available for 23andMe.
