Executives at Inspirato Inc (NASDAQ:ISPO), a luxury travel company, have recently sold shares in the company, with transactions totaling over $75,000. The sales occurred on June 12 and June 13, with prices ranging from $3.90 to $3.91 per share.
Institutional Venture Partners XIII, L.P. and its managing directors, including Todd C. Chaffee, Norman A. Fogelsong, Stephen J. Harrick, J. Sanford Miller, and Dennis B. Phelps, Jr., were involved in the sale of Class A Common Stock of Inspirato Inc. The transactions were executed in multiple parts, with shares sold at varying prices within the stated range.
On June 12, a total of 11,603 shares were sold at a weighted average price of $3.90, while on June 13, another 7,639 shares were sold at an average of $3.91. The footnotes accompanying the SEC filing indicate that the prices reported are weighted averages, and the shares were sold in multiple transactions at prices ranging from $3.89 to $3.99, and from $3.90 to $4.03, respectively.
According to the footnotes, the securities are held of record by Institutional Venture Partners XIII, L.P. ("IVP XIII"), with Institutional Venture Management XIII, LLC ("IVM XIII") being the general partner. The managing directors of IVM XIII may be deemed to have shared voting and dispositive power with respect to the securities held by IVP XIII. However, each individual and entity disclaims beneficial ownership of the reported securities, except to the extent of their respective pecuniary interest.
The recent transactions provide insights into the trading activities of Inspirato's significant stakeholders and are a matter of record for investors following the company's stock performance.
In other recent news, Inspirato Inc. has reported a return to profitability in the first quarter of 2024. The luxury travel company achieved positive EBITDA and net income for the first time in over three years, with the successful introduction of Flex (NASDAQ:FLEX) Trips and a reaffirmed guidance for the year. Despite a decrease in Pass subscriptions and a reduction in revenue and EBITDA from the previous quarter, Inspirato's management remains committed to its long-term plan.
Inspirato's new Flex Trips offering has been well-received, contributing to 25% of all Pass trips with over 800 reservations. However, Pass subscriptions have decreased, contributing to 30% of total nights, down from 40%. The company's cash reserves stand at $33 million, a decrease from $42 million at the end of the previous year.
Inspirato reaffirms its 2024 guidance range, indicating confidence in its financial projections. The company is focusing on driving sustainable, profitable growth by reinvigorating its member base and refining offerings. Operational improvements, cash management, and engagement are prioritized to reach breakeven and improve cash balances. These are the recent developments in the company's journey.
InvestingPro Insights
In light of the recent share sales by executives at Inspirato Inc (NASDAQ:ISPO), a deeper look into the company's financial health and market performance through InvestingPro data may offer additional context for investors. As of the latest metrics, Inspirato Inc has a market capitalization of approximately $25.76 million USD. This relatively small market cap reflects the company's position within the luxury travel industry and the competitive challenges it may face.
InvestingPro data also reveals a negative adjusted P/E ratio over the last twelve months as of Q1 2024, standing at -0.91. This figure suggests that the company has been unprofitable during this period. Furthermore, the company's revenue has experienced a decline of 10.56% over the last twelve months as of Q1 2024, aligning with analysts' expectations of a sales decline in the current year, as indicated by one of the InvestingPro Tips.
Another key metric for investors to consider is the company's price performance. Inspirato's stock price has decreased by 80.71% over the past year, which is significant and may raise concerns about its long-term investment viability. This is corroborated by another InvestingPro Tip highlighting the stock price's poor performance over the last decade. Additionally, the company's short-term obligations exceeding its liquid assets could be a warning sign for potential liquidity issues.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available, which delve into aspects such as the company's cash burn rate and debt burden. These tips could be particularly relevant for understanding the risks associated with Inspirato's financial strategy. To access these insights and more, visit https://www.investing.com/pro/ISPO and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. InvestingPro offers a total of 12 additional tips that could further inform your investment decisions regarding Inspirato Inc.
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