In a recent transaction, William D. Pruitt, a director at NV5 Global, Inc. (NASDAQ:NVEE), sold a significant amount of company stock, leading to a total sale value of over $286,000. The sale took place on May 14, 2024, and was disclosed in a filing with the Securities and Exchange Commission.
The shares were sold at weighted average prices, with the first batch of 1,917 shares sold at an average price of $95.01, ranging from $94.56 to $95.42. The second batch consisting of 1,083 shares was sold at an average price of $95.92, with prices ranging from $95.49 to $96.18. The sales were reportedly made for estate planning purposes, as indicated in the footnotes of the SEC filing.
Following these transactions, Pruitt still holds a substantial number of shares in the company indirectly through Pruitt Enterprises LP and other family trusts. The report also included a disclaimer of beneficial ownership, indicating that Pruitt may not have a direct pecuniary interest in some of the shares reported.
Investors often monitor insider transactions such as these for insights into executive sentiment towards their company's stock. As of the latest filing, NV5 Global, Inc. continues to engage in its business of providing professional and technical engineering and consulting solutions.
InvestingPro Insights
NV5 Global, Inc. (NASDAQ:NVEE) has caught the attention of investors not just because of the recent insider transaction but also due to its financial metrics and market performance. According to InvestingPro data, NV5 Global has a market capitalization of $1.53 billion and a Price to Earnings (P/E) ratio of 36.99, which adjusts to 42.41 when considering the last twelve months as of Q1 2024. This indicates that the company is trading at a high earnings multiple. The company's revenue growth remains robust, with a 14.06% increase in the last twelve months as of Q1 2024, reflecting the company's ability to expand its business operations effectively.
One of the InvestingPro Tips highlights NV5 Global's impressive gross profit margins, which stood at 50.21% in the last twelve months as of Q1 2024. This suggests that the company is efficient in its operations, maintaining a strong balance between revenue and cost of goods sold. Another critical metric is the company's current trading position, with NV5 Global trading near its 52-week low, which could indicate a potential buying opportunity for investors considering the company's solid fundamentals.
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