Wheels Up Experience Inc. (NYSE:UP) executive Mark Briffa, serving as EVP, Charter & CEO Air Partner, has sold a total of 5,589 shares of the company's Class A common stock. The transactions, which took place on March 13, 2024, were executed at a weighted average price of $2.52 per share, with individual sale prices ranging from $2.50 to $2.55. The total value of the shares sold by Briffa amounts to approximately $14,084.
The sales were conducted in multiple transactions and, following these, Briffa still retains a significant stake in the company with 58,471 shares of Wheels Up Experience Inc. remaining under his ownership. The executive has committed to providing detailed information about the number of shares sold at each price point upon request from the company, its security holders, or the SEC staff.
Investors often keep a close eye on insider transactions as they can provide insights into an executive's perspective on the company's current valuation and future prospects. Wheels Up Experience Inc., a leading provider in the air transportation sector, continues to be a subject of interest as its executives engage in market transactions.
InvestingPro Insights
As Wheels Up Experience Inc. (NYSE:UP) makes headlines with insider transactions, investors are assessing the company's financial health and future prospects. With a market capitalization of $1.85 billion and a tumultuous stock performance, Wheels Up's current situation can be better understood through key metrics and insights from InvestingPro.
The company's revenue for the last twelve months as of Q4 2023 stood at $1.253 billion, which reflects a decline of 20.66%. This drop in revenue is a critical figure, considering the company's gross profit margin during the same period was a mere 1.75%, indicating struggles to maintain profitability amidst its revenues.
InvestingPro Tips suggest that Wheels Up is quickly burning through cash and analysts do not anticipate the company will be profitable this year, which may raise concerns about its financial sustainability. Additionally, with a P/E ratio of -0.72 and an adjusted P/E ratio for the last twelve months of -4.83, the company's earnings do not currently justify its stock price, which may reflect investor skepticism about future growth.
Despite recent volatility, with a significant return over the last week of 9.92%, the stock has experienced a sharp decline over the last month, with a price total return of -22.22%. This volatility is further evidenced by the stock's price being only 29.58% of its 52-week high.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available on the platform. These tips can provide deeper insights into Wheels Up's financials, stock performance, and valuation. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to the full suite of tips that can help inform your investment decisions.
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