In a recent transaction, Abri Ventures I, LLC, a significant shareholder in Collective Audience, Inc. (NASDAQ:CAUD), sold a total of 600,000 shares of the company's common stock. The shares were sold at a price of $0.55 each, amounting to an aggregate sales price of $330,000.
This transaction took place on April 8, 2024, and was reported in a Form 4 filing with the Securities and Exchange Commission on April 10, 2024. Following the sale, Abri Ventures I, LLC still holds 1,013,078 shares of Collective Audience, Inc.'s common stock. The shares were sold directly by Abri Ventures I, LLC, indicating a direct ownership in the transactions.
Collective Audience, Inc., which operates under the industrial classification of Management Consulting Services, has undergone a name change from its former identity as Abri SPAC I, Inc. as of March 31, 2021. The company is incorporated in Delaware and has its business address in New York, NY.
The recent sale by Abri Ventures I, LLC showcases a notable change in their investment in Collective Audience, Inc., yet they maintain a substantial ownership stake in the company post-transaction. The details of the transaction provide investors with insight into the trading activities of significant shareholders within the company.
InvestingPro Insights
As investors digest the news of Abri Ventures I, LLC's significant sale of shares in Collective Audience, Inc. (NASDAQ:CAUD), a glance at the company's financial health and market performance is essential. According to real-time data from InvestingPro, Collective Audience, Inc. has a market capitalization of just $7.55 million, highlighting its small-cap status in the market. The stock's price-to-book ratio as of the last twelve months ending Q3 2023 stands at 2.23, suggesting that investors are paying slightly more than twice the company's book value per share.
InvestingPro Tips for Collective Audience, Inc. indicate that the stock generally trades with high price volatility, which could be a factor for the substantial sell-off by Abri Ventures I, LLC. The company's weak gross profit margins, at just 6.97% for the same period, may also be a concern for investors assessing the firm's ability to turn revenues into profits. Furthermore, the stock has experienced a significant price drop over the past year, with a total return of -94.69% as of the latest data point.
For investors seeking a deeper dive into Collective Audience, Inc.'s performance and additional InvestingPro Tips, they can explore more at https://www.investing.com/pro/CAUD. There are 6 more tips available, which could provide valuable insights into the company's financials and stock behavior. For those interested in an InvestingPro subscription, use coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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