In recent trading activity, Eric Richard Remer, the Chief Executive Officer of EverCommerce Inc. (NASDAQ:EVCM), has sold a significant portion of his holdings in the company. The transactions, which occurred over several days, amounted to a total of $261,328 in value.
The sales were conducted at varying prices, with a range between $10.6044 and $10.6924 per share. Specifically, on September 17, Remer sold 10,311 shares at an average price of $10.6913, on September 18, another 7,090 shares were sold at an average price of $10.6044, and on September 19, an additional 7,099 shares were sold at an average price of $10.6924.
These transactions were executed under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which was established on June 14, 2024. This type of plan allows company insiders to set up a trading schedule in advance to sell stocks at a predetermined time to avoid accusations of insider trading.
Following these sales, Remer still holds a substantial number of shares in EverCommerce indirectly through various entities. The shares are owned by Buckrail Partners, LLC, EMJ Remer Family Trust, Remer Family Trust, and Family Trust 1, indicating a continued vested interest in the company’s future.
Investors often monitor insider transactions as they may offer insights into the executive’s perspective on the company’s current valuation and future prospects. However, it’s important to consider that selling shares does not necessarily reflect a negative outlook, as executives may have various personal financial planning reasons behind such decisions.
EverCommerce Inc. specializes in providing software services and operates within the prepackaged software industry, according to its SEC filings. The company is incorporated in Delaware and has its headquarters in Denver, Colorado.
In other recent news, EverCommerce surpassed Q2 2024 revenue expectations, reporting a revenue of $177.4 million, a 4.3% year-over-year growth. The company’s adjusted EBITDA reached $41.2 million, demonstrating a 23.2% margin. Excluding the sale of fitness assets, the pro forma revenue growth was 6%. Payments revenue, excluding fitness solutions, saw an 8% YoY increase, driven by an 8.4% growth in total payment volume.
EverCommerce also appointed Ryan Siurek as the new CFO and experienced significant growth in cross-selling, with 199,000 customers enabled for more than one solution, a 25% YoY increase. Looking ahead, the company expects Q3 total revenue to be between…
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