SoFi CEO enters prepaid forward contract on 1.5 million shares
Matthew David Feierstein, President of EverCommerce Inc. (NASDAQ:EVCM), a $1.8 billion market cap company with strong financial health indicators, recently executed a sale of 200 shares of the company’s common stock. The shares were sold at a weighted average price of $10.005, resulting in a total transaction value of $2,001. According to InvestingPro analysis, the stock appears undervalued at current levels. This sale was part of a Rule 10b5-1 trading plan established on September 6, 2024.
In addition to the sale, there were transactions involving shares withheld by the issuer to cover tax obligations tied to the vesting of restricted stock units. On March 1 and March 3, a total of 6,042 shares were withheld at prices ranging from $9.73 to $9.92, amounting to $59,124. With the company’s earnings report due on March 12 and analysts projecting profitability this year, InvestingPro subscribers can access 7 additional key insights about EVCM’s financial outlook. Following these transactions, Feierstein holds 2,176,816 shares directly and 150,000 shares indirectly through a family trust.
In other recent news, EverCommerce Inc. reported its financial results for the third quarter of 2024, highlighting a revenue increase to $176.3 million, which represents a 0.9% growth year-over-year. The company also noted an expansion in its adjusted EBITDA margin by 140 basis points, reaching $44.5 million, or a 25.3% margin. Payments revenue saw a notable rise of 6.7% compared to the previous year. EverCommerce has set its Q4 2024 revenue guidance between $168 million and $172 million, with expected adjusted EBITDA ranging from $43 million to $46 million. In governance news, the company announced the resignation of John Marquis from its Board of Directors, with Tanner Austin appointed as his replacement. Austin, designated by Providence Strategic Growth II L.P., opted out of EverCommerce’s Non-Employee Director Compensation Program. These developments reflect EverCommerce’s ongoing efforts to adapt and optimize within the competitive landscape of prepackaged software services.
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