Angi chief technology officer sells $15,383 in stock

Shanmugasundaram Kulesh, the Chief Technology Officer of Angi Inc. (NASDAQ:ANGI), recently sold 9,861 shares of the company’s Class A Common Stock. The shares were sold at a weighted average price ranging from $1.53 to $1.56, resulting in a total transaction value of approximately $15,383. The transaction comes as ANGI’s stock trades at $1.66, having declined about 37.5% over the past six months, with the company maintaining a market capitalization of $838 million. Following this sale, Kulesh retains ownership of 414,716 shares in the company. The transaction was carried out as part of a pre-established Rule 10b5-1 trading plan. Despite recent stock volatility, InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 2.14 and operates with moderate leverage, sporting a debt-to-equity ratio of 0.51. According to InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.

In other recent news, ANGI Homeservices reported impressive fourth-quarter 2024 earnings, with revenue reaching $267.9 million, surpassing the forecast of $254.41 million. The company’s earnings per share met expectations at $0, highlighting stable financial management. Despite this positive performance, JMP Securities adjusted its price target for ANGI Homeservices from $3.00 to $2.75, maintaining a Market Outperform rating. Angi Inc. also announced key executive changes, including the resignation of Chief Technology Officer Kulesh Shanmugasundaram and the appointment of Kris Boon as the new Chief Product Officer effective March 31, 2025. The company plans to execute a spin-off on March 31, 2025, which is anticipated to create additional value for shareholders. Angi Inc.’s leadership restructuring aligns with its strategic goals to enhance competitive positioning in the market. These developments reflect Angi’s continued efforts to adapt and grow in response to market demands and operational needs.

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