SoFi CEO enters prepaid forward contract on 1.5 million shares
In a recent filing with the Securities and Exchange Commission, Keith Smith, President and Director of Direct Digital Holdings , Inc. (NASDAQ:DRCT), disclosed the sale of shares totaling $24,608. The transactions occurred over three days, from March 20 to March 24, 2025, amid a challenging year for the company’s stock, which has declined over 97% in the past year. According to InvestingPro data, the company’s shares currently trade at $0.75, with a market capitalization of approximately $12 million.
Smith sold a total of 31,762 shares of Class A Common Stock at prices ranging from $0.76 to $0.79 per share. The sales were executed under a 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell company stock. Following these transactions, Smith holds 44,001 shares indirectly through SKW Financial LLC. The company, which InvestingPro rates as having WEAK financial health, is scheduled to report earnings on March 27, 2025.
These transactions provide insight into the trading activities of Direct Digital Holdings’ top executives and may be of interest to investors monitoring insider movements at the company. For deeper analysis of insider trading patterns and 15+ additional key insights, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Direct Digital Holdings has been granted an extension by The Nasdaq Stock Market to meet the minimum stockholders’ equity requirement, with a new deadline set for March 31, 2025. This decision came after the Nasdaq Listing Qualifications Department reviewed the company’s compliance plan. In addition, Direct Digital Holdings has introduced a new AI guide for Destination Marketing Organizations, aimed at enhancing promotional efforts and operational efficiency through generative AI. Another guide released by the company targets advertising agencies, providing strategies for integrating AI to streamline tasks and improve output quality.
Furthermore, Direct Digital Holdings and Green Tea Technology have launched a joint venture named Teranexa, which offers AI platforms to improve city operations and services. This venture aims to unify infrastructure costs and address urban challenges with an integrated approach. The company has also unveiled a framework for responsible AI use in workplaces, helping businesses develop policies to mitigate risks and enhance productivity. These developments reflect Direct Digital Holdings’ ongoing commitment to leveraging AI technology across various sectors.
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