Satellogic (NASDAQ:SATL) Trading Down 6.4% After Insider Selling

Key Points

• Satellogic's stock declined by 6.4% following significant insider selling by CEO Emiliano Kargieman, who sold multiple blocks of shares totaling over $2.5 million over the past week.
• The company reported a loss of ($0.06) earnings per share and revenue of $4.44 million in its last quarterly earnings results.
• Institutional investors have steadily increased their stakes in Satellogic, with ownership now at 17.58% of the company's stock.

Satellogic Inc. (NASDAQ:SATL - Get Free Report)'s share price traded down 6.4% during trading on Wednesday following insider selling activity. The company traded as low as $3.48 and last traded at $3.53. 2,630,971 shares were traded during mid-day trading, an increase of 69% from the average session volume of 1,557,851 shares. The stock had previously closed at $3.77.

Specifically, CEO Emiliano Kargieman sold 17,380 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $3.75, for a total transaction of $65,175.00. Following the completion of the transaction, the chief executive officer directly owned 2,000,000 shares of the company's stock, valued at approximately $7,500,000. This trade represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Emiliano Kargieman sold 209,413 shares of Satellogic stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $3.85, for a total transaction of $806,240.05. Following the transaction, the chief executive officer directly owned 2,017,380 shares of the company's stock, valued at approximately $7,766,913. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Emiliano Kargieman sold 435,956 shares of Satellogic stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $3.94, for a total transaction of $1,717,666.64. Following the completion of the transaction, the chief executive officer directly owned 2,226,793 shares of the company's stock, valued at $8,773,564.42. The trade was a 16.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Satellogic Stock Down 6.4%

The business's 50 day moving average is $3.54 and its 200-day moving average is $3.63.

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

Institutional Investors Weigh In On Satellogic

Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. acquired a new stake in Satellogic in the 2nd quarter valued at $25,000. Legal & General Group Plc acquired a new stake in Satellogic in the 2nd quarter valued at $27,000. LMR Partners LLP acquired a new stake in Satellogic during the 2nd quarter worth $30,000. ProShare Advisors LLC acquired a new stake in Satellogic during the 2nd quarter worth $51,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in Satellogic during the 2nd quarter worth $58,000. Institutional investors and hedge funds own 17.58% of the company's stock.

Satellogic Company Profile

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.

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