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Eric Richard Remer, the Chief Executive Officer of EverCommerce Inc. (NASDAQ:EVCM), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. The stock, which InvestingPro analysis indicates is currently undervalued, has declined about 17% year-to-date, though management has been actively buying back shares. On March 11, Remer disposed of 9,404 shares of common stock at a weighted average price of $9.0583, amounting to a total transaction value of $85,184. These sales were conducted through Buckrail Partners, LLC, under a Rule 10b5-1 trading plan established in June 2024. With the company’s earnings report due March 13, InvestingPro subscribers can access comprehensive analysis and 8 additional key insights about EVCM’s financial health, which currently rates as "Good."
In addition to the sale, Remer was awarded 501,028 restricted stock units on March 5, which vest in 16 equal quarterly installments. Following these transactions, Remer holds approximately 1,660,839 shares directly and additional shares indirectly through various family trusts.
In other recent news, EverCommerce Inc. reported its financial results for the third quarter of 2024, showing a 0.9% increase in revenue year-over-year, reaching $176.3 million. The company also saw its adjusted EBITDA margin expand by 140 basis points. EverCommerce is currently exploring the sale of its Marketing Technology (MarTech) solutions, which it aims to complete by the end of 2025, excluding these assets from its 2025 guidance. This strategic move is intended to streamline operations and focus on core business areas. Analysts from JMP Securities maintained their Market Outperform rating and a $15.00 price target for EverCommerce, viewing the potential divestiture as a positive step. Additionally, the company appointed Tanner Austin to its Board of Directors following the resignation of John Marquis. EverCommerce’s upcoming fourth-quarter earnings report is anticipated to offer further insights into its financial health and the progress of the MarTech divestiture.
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