Smith Micro Software's VP and CFO sells shares worth $1,681
Investing.com
Published Mar 15, 2024 04:42PM ET
Smith Micro Software , Inc. (NASDAQ:SMSI) has reported a recent transaction involving its Vice President, Chief Financial Officer and Treasurer, James M. Kempton. According to the latest filing, Kempton sold 4,804 shares of the company's common stock at a price of $0.35 per share, totaling approximately $1,681.
The transaction took place on March 13, 2024, and was made public through a Form 4 filing with the Securities and Exchange Commission on March 15, 2024. The sale was conducted as a sell-to-cover transaction to satisfy withholding tax obligations that arose from the vesting of a restricted stock award.
Following the sale, Kempton's direct ownership in Smith Micro Software stands at 407,973 shares. This move by a key executive is noted by investors as it reflects changes in insider holdings and can provide insights into the company's financial health and executive confidence.
Smith Micro Software, specializing in prepackaged software services, continues to navigate the market with its executive team adjusting their stakes in the company. As the VP, CFO, and Treasurer adjusts his holdings, investors and market watchers alike take note of the ongoing financial decisions within the company's leadership.
h2 InvestingPro Insights/h2Smith Micro Software, Inc. (NASDAQ:SMSI) has recently seen significant activity from its executive team, which could be indicative of the company's financial health and trajectory. InvestingPro data provides a snapshot of the company's current market standing:
- Market Cap (Adjusted)*: SMSI's market capitalization stands at a modest $26.14 million, reflecting its position in the market.
- **P/E Ratio (Adjusted) last twelve months as of Q4 2023**: The company's adjusted P/E ratio is -1.25, suggesting that it currently does not generate net earnings to cover its share price.
- **Price / Book last twelve months as of Q4 2023**: SMSI's low Price / Book multiple of 0.35 could indicate that the stock is undervalued relative to its book value.
InvestingPro Tips also shed light on Smith Micro Software's financial nuances:
1. The company **holds more cash than debt on its balance sheet**, which could provide some financial stability in challenging economic times.
2. The stock's *RSI suggests it is in oversold territory, which might attract investors looking for potential rebounds or those who believe the market has overly punished the stock.
For those interested in a deeper analysis of Smith Micro Software, there are additional InvestingPro Tips available at InvestingPro Tips that can help guide your investment strategy.
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Written By: Investing.com
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