WM Technology exec sells over $39k in company stock

In a recent transaction, Brian Camire, General Counsel of WM Technology, Inc. (NASDAQ:MAPS), sold a substantial number of shares in the company. On August 16, 2024, Camire sold 39,712 shares of Class A common stock at a weighted-average price of $1.0048, resulting in a total sale value of approximately $39,902.

The shares were sold in a range of prices from $1.00 to $1.015, as disclosed in a footnote of the filing. The sale was conducted to cover tax withholding obligations and related brokerage commission fees that arose from the vesting of restricted stock units and performance-based restricted stock units.

Following the transaction, Camire still holds a significant stake in the company, with 657,006 shares of Class A common stock remaining in his possession. This move adjusts Camire's holdings in WM Technology, reflecting a common practice among executives to manage their stock-based compensation and associated tax liabilities.

Investors and followers of WM Technology, Inc. can request detailed information about the exact number of shares sold at each price point from the reporting person, the SEC, or the security holder of the issuer, as per the available footnotes in the SEC filing.

In other recent news, WM Technology, Inc. has been undergoing significant changes and addressing various issues. The company's shareholders recently approved executive pay and elected two Class II Directors during their 2024 Annual Meeting. In terms of compliance, WM Technology has been diligently working to resolve Nasdaq issues related to delays in filing required financial reports, which have been attributed to a recent change in executive finance leadership.

The software services company also settled an investigation by the Securities and Exchange Commission (SEC) concerning the reporting of its monthly active users with a $1.5 million agreement. This followed an internal investigation and voluntary report to the SEC by WM Technology.

Furthermore, the company announced the resignation of its Chief Technology Officer, Duncan Grazier, who will continue to serve in an advisory role until a replacement is found. Alongside this, Executive Chair Douglas Francis was awarded a discretionary performance bonus of $835,000 for fiscal year 2023. These are recent developments reflecting ongoing changes within WM Technology.

InvestingPro Insights

WM Technology, Inc. (NASDAQ:MAPS) has recently seen notable activity from its General Counsel, but what does the broader financial picture look like for the company? According to InvestingPro data, WM Technology holds a market capitalization of approximately $172.13 million, which gives investors a sense of the company's size within the technology sector. Despite a challenging environment, the company has managed to maintain impressive gross profit margins of 94.36% over the last twelve months as of Q2 2024.

InvestingPro Tips reveal that WM Technology has more liquid assets than short-term obligations and holds more cash than debt on its balance sheet, which can be reassuring signs for investors concerned about the company's financial stability. Additionally, the company has been identified as having a high shareholder yield, which is a combination of dividends and buybacks, suggesting a commitment to returning value to shareholders. However, it's important to note that WM Technology does not currently pay a dividend.

Another key metric to consider is the company's recent price performance. WM Technology has delivered a significant return over the last week, with a price total return of 9.74%. While the company's P/E ratio stands at -14.44, analysts predict that WM Technology will turn profitable this year, which could be a pivotal moment for the company's valuation and investor sentiment. For those interested in a deeper dive, there are 9 additional InvestingPro Tips available, which could provide further insights into WM Technology's performance and outlook.

For investors tracking the company's growth trajectory, it's noteworthy that WM Technology has experienced a slight decrease in revenue growth, with a -5.74% change over the last twelve months as of Q2 2024. However, the company's ability to maintain high gross profit margins despite revenue fluctuations could be a testament to its operational efficiency.

These financial metrics and InvestingPro Tips provide a snapshot of WM Technology's current market position and could help investors make informed decisions. For more detailed analysis and additional tips, interested parties can visit InvestingPro's dedicated page for WM Technology at https://www.investing.com/pro/MAPS.

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