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Angi Inc. CTO sells shares worth over $30,000 By Investing.com

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Angi Inc. (NASDAQ:ANGI), a leader in digital home services, has reported that its Chief Technology Officer, Kulesh Shanmugasundaram, sold 11,748 shares of the company’s Class A Common Stock. The transaction, which took place on April 1, 2024, amounted to a total of $30,309, with the weighted average sales price per share ranging from $2.57 to $2.63.

This sale was executed under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for buying or selling stocks at a future date. This can provide a defense against potential insider trading accusations, as the trades are planned when the insider does not have any material non-public information.

Shanmugasundaram’s transaction was disclosed in a filing with the Securities and Exchange Commission (SEC) on April 2, 2024. Following the sale, the CTO still holds a significant stake in the company, with 166,034 shares of Angi Inc. remaining in his possession.

Investors often monitor insider transactions as they can provide insights into an executive’s view of the company’s stock value and future performance. However, it’s important to note that there can be many reasons for an insider to sell shares, and such transactions do not necessarily indicate a lack of confidence in the company.

Angi Inc. has not made any official statement regarding the transaction, and it remains to be seen how this will impact the company’s stock performance in the future.

InvestingPro Insights

As Angi Inc. (NASDAQ:ANGI) navigates the complexities of the digital home services market, the recent insider transaction by the CTO has brought the company into the spotlight. Investors seeking a deeper understanding of ANGI’s financial health and future prospects can look to the latest metrics from InvestingPro.

The company’s market capitalization stands at $1.24 billion USD, indicating its size and significance in the sector. Despite a challenging period, with revenue experiencing a decline of 22.99% in the last twelve months as of Q1 2023, Angi’s gross profit margin remains impressively high at 95.43%. This suggests that while the company’s sales have decreased, it maintains a strong ability to control the cost of goods sold and generate profit on each dollar of revenue.

Investors should note the volatility in the stock’s price, with a 31.63% increase over the past six months, yet a 11.64% decrease in the last month. This could indicate a market reaction to recent events or broader sector…

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