Paysign Inc.’s (NASDAQ:PAYS) Chief Legal Officer, Robert Strobo, has sold a total of $134,813 worth of company stock, according to a recent SEC filing. The transactions took place on August 5, 2024, with the shares being sold at an average price of $4.5407 each. This price represents a weighted average, as the sales were made in multiple transactions with prices ranging from $4.1801 to $5.0401.
The sale was executed to satisfy tax withholding obligations related to the vesting of restricted stock. Following the sale, Strobo continues to own 209,811 shares of Paysign, indicating a continued investment in the company’s future.
Investors and followers of Paysign will note that the sale by an insider could be part of regular financial planning or portfolio management strategies. As with all insider transactions, it is important to consider the context and not view the sale in isolation.
Paysign Inc. has not made any further comments regarding the transactions. Interested parties can request more detailed information about the sales, including the number of shares sold at each price point within the stated range, from the company or the SEC.
In other recent news, Paysign Inc. reported a notable increase in financial performance for Q1 of 2024, including a 30% year-over-year revenue growth to $13.2 million and a 135% increase in adjusted EBITDA to $1.7 million. This growth was largely attributed to the expansion of its patient affordability business, which witnessed a 305% revenue increase, and an 11% revenue increase in the plasma donor compensation business to $10.4 million. The company also revealed plans to add 15 to 25 new plasma centers throughout 2024. Paysign is collaborating with over 40 pharmaceutical companies and has secured repeat business from larger manufacturers. Despite not providing specific growth numbers for the current year, the company maintains an optimistic outlook for 2024, expecting a full pipeline of potential opportunities within the estimated $500 million market for their services. These are recent developments that highlight Paysign’s strong trajectory and potential for sustained growth.
InvestingPro Insights
Paysign Inc. (NASDAQ:PAYS) has recently caught the attention of investors following insider trading activity. As stakeholders evaluate the implications of Chief Legal Officer Robert Strobo’s stock sale, it’s beneficial to consider key financial metrics and analyst perspectives to gain a more comprehensive understanding of the…
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