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WASHINGTON—Tim Hwang, a director and significant shareholder of FiscalNote Holdings, Inc. (NYSE:NOTE), recently sold a substantial portion of the company’s Class A Common Stock. The sale comes as the company’s stock, currently trading at $1.14, shows signs of being undervalued according to InvestingPro analysis, despite falling 9.52% in the past week. According to a filing with the Securities and Exchange Commission, Hwang sold a total of 51,137 shares on March 3, 2025.
The transactions were executed in two separate sales. The first sale involved 30,830 shares at approximately $1.10 per share, amounting to $33,798. The second sale included 20,307 shares at a weighted average price of $1.19 per share, totaling $24,165. These sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan for selling stocks. Notably, analyst price targets for FiscalNote range from $1.75 to $5.00, suggesting potential upside despite recent market volatility. Get comprehensive analysis and 12 additional key insights with InvestingPro.
Following these transactions, Hwang retains ownership of 2,655,992 shares indirectly through the Timothy T. Hwang Revocable Trust. Additionally, he holds 49,318 shares directly.
These sales were part of a planned strategy to cover tax obligations associated with the vesting of restricted stock units, as detailed in the SEC filing.
In other recent news, FiscalNote Holdings, Inc. has reported several noteworthy developments. The company has returned to compliance with the New York Stock Exchange’s minimum share price requirement, maintaining a closing stock price at or above $1.00 for the past 30 trading days. This compliance follows efforts to enhance product offerings and drive profitability. Furthermore, FiscalNote has amended its Long-Term Incentive Plan, which includes a one-time increase in the number of shares authorized for issuance and adjustments to its annual provision. This amendment was approved by stockholders and reflects changes in the executive compensation structure. Additionally, the company granted restricted stock units valued at $1 million to CFO Jon Slabaugh, set to vest starting in 2026. In another strategic move, FiscalNote appointed John Lee, a former Palantir (NASDAQ:PLTR) executive, as a Senior Strategic Advisor to enhance its technology adoption and contracting strategy within the public sector. CEO Josh Resnik highlighted Lee’s expertise in next-generation technology as a valuable asset to the company’s mission.
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