Insider Selling: Satellogic (NASDAQ:SATL) CEO Sells 76,685 Shares of Stock

Key Points

• Satellogic CEO Emiliano Kargieman sold 76,685 shares at an average price of $3.76, resulting in a total transaction value of $288,335.60.
• Following the sale, Kargieman's ownership decreased by 2.66%, leaving him with approximately $10.5 million in shares.
• In the second quarter, institutional investors significantly increased their holdings, with Geode Capital Management enhancing its stake by 1,671.4%.

Satellogic Inc. (NASDAQ:SATL - Get Free Report) CEO Emiliano Kargieman sold 76,685 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $3.76, for a total transaction of $288,335.60. Following the sale, the chief executive officer owned 2,805,265 shares of the company's stock, valued at approximately $10,547,796.40. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Emiliano Kargieman also recently made the following trade(s):

• On Friday, August 29th, Emiliano Kargieman sold 29,770 shares of Satellogic stock. The stock was sold at an average price of $3.75, for a total transaction of $111,637.50.
• On Wednesday, August 27th, Emiliano Kargieman sold 15,191 shares of Satellogic stock. The shares were sold at an average price of $3.75, for a total transaction of $56,966.25.
• On Tuesday, August 26th, Emiliano Kargieman sold 73,089 shares of Satellogic stock. The stock was sold at an average price of $3.75, for a total transaction of $274,083.75.

Satellogic Price Performance

Satellogic stock traded down $0.01 during mid-day trading on Wednesday, reaching $3.58. 1,699,595 shares of the company's stock traded hands, compared to its average volume of 1,190,934. The stock has a 50 day moving average of $3.52 and a two-hundred day moving average of $3.63. Satellogic Inc. has a 12-month low of $0.93 and a 12-month high of $5.49.

Satellogic (NASDAQ:SATL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.06) earnings per share for the quarter. The business had revenue of $4.44 million for the quarter.

Hedge Funds Weigh In On Satellogic

Several hedge funds and other institutional investors have recently bought and sold shares of SATL. Geode Capital Management LLC grew its stake in shares of Satellogic by 1,671.4% during the 2nd quarter. Geode Capital Management LLC now owns 874,487 shares of the company's stock worth $3,166,000 after purchasing an additional 825,121 shares during the period. Penserra Capital Management LLC acquired a new stake in Satellogic in the 2nd quarter valued at $380,000. Rhumbline Advisers acquired a new stake in Satellogic in the 2nd quarter valued at $351,000. Invesco Ltd. acquired a new stake in Satellogic in the 2nd quarter valued at $146,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Satellogic in the 2nd quarter valued at $137,000. Institutional investors and hedge funds own 17.58% of the company's stock.

About Satellogic

Satellogic Inc operates as an integrated geospatial company in the Asia Pacific, North America, and internationally. It engages in tasking satellites with monitoring assets and keeping up with their changing reality for government and commercial customers; control satellites on top of specific areas of interest for governments; and sale and support satellites.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.