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First Advantage Corp (NASDAQ:FA) President of Americas, Joseph K. Jaeger, has sold a total of 10,000 shares of company stock, according to a recent filing with the Securities and Exchange Commission. The transaction, executed on August 12, 2024, amounted to a total of $170,334, with the shares being sold at a weighted average price of $17.0334 each.
The sale was conducted under a prearranged Rule 10b5-1 trading plan, which Jaeger had adopted on August 14, 2023. This plan allows company insiders to sell shares over a predetermined period of time, providing an affirmative defense against accusations of trading on nonpublic information.
Investors might be interested to know that the shares were sold in a price range from $16.850 to $17.180 per share. Following the sale, Jaeger still owns a substantial number of shares, specifically 680,080, indicating a continued vested interest in the company's performance.
First Advantage Corp, which specializes in business services and operates under the trade and services sector, has its shares publicly traded under the ticker symbol FA. The company's business address is located in Atlanta, Georgia.
The transaction details, including the exact number of shares sold at each price within the range, will be provided upon request to the SEC staff, the issuer, or any security holder of the issuer, as noted in the filing's footnotes. This transparency ensures that all parties have access to the full information regarding the insider's stock transactions.
The filing was signed by Bret T. Jardine, acting as Attorney-in-Fact, on August 14, 2024.
InvestingPro Insights
Following the recent insider sale by First Advantage Corp's President of Americas, Joseph K. Jaeger, investors might be looking to understand the company's current financial health and market standing. First Advantage Corp (NASDAQ:FA) is presently demonstrating a robust financial outlook according to InvestingPro Tips. The company is expected to see net income growth this year, and it operates with a moderate level of debt, which can be reassuring for investors concerned about financial stability.
InvestingPro Data reveals a market capitalization of $2.51 billion, which reflects the company's value as perceived by the market. An impressive gross profit margin of 49.5% over the last twelve months as of Q2 2024 indicates that First Advantage Corp is effectively managing its costs relative to its revenues. However, the company is trading at a high earnings multiple, with a P/E ratio of 100.94, suggesting that the stock may be valued optimistically in relation to its earnings.
Moreover, the company's shares are trading near their 52-week high, at 98.68% of the peak value, which aligns with the share price information around the time of Jaeger's stock sale. For investors looking for additional insights and detailed analysis, there are more InvestingPro Tips available, which can be accessed through the company's InvestingPro page.
For those considering First Advantage Corp's stock, it's important to note that the company does not pay a dividend, which could influence investment decisions for those seeking regular income from their investments. With a continued vested interest from insiders and a positive outlook from InvestingPro Tips, First Advantage Corp presents a mix of opportunities and considerations for potential investors.
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