At Boardroom Alpha we spend a lot of time looking at insider buying and selling activity as a way to monitor what actions company insiders are taking and what that might say about the future prospects of a given company.
Have a look in more detail at the below data using our Insider Trading Tacker.
Large-cap companies with most aggregate insider sells this week (Tracker link here)
Despite the shortened trading week, there was still a lot of selling activity at large-cap companies; 11 had more than $20mm in net sales:
- Leonard Green Partners sold $535.2mm worth of shares of Catalent (CTLT) that they had converted into common, cashing out on a portion of the $650mm in Convertible Prefs they purchased as investment in the company last year
- LGP Partner Peter Zippelius (A-) was appointed to CTLT board in May 2019 as part of the investment
- Director S. Robson Walton (D) was the lone seller at Walmart (WMT), selling $107mm worth of shares.
- Co-Founder and CEO Mark Zuckerberg (A-) was responsible for the bulk of the selling at Facebook (FB), offloading $44mm worth of shares. All the sales were regular-way 10b5-1 trading for the tech execs.
In addition to the bigger sales at large-cap companies, there were smaller but still significant net sales totaling $10-20mm at 7 large-cap companies. There was a decline of 50% in this segment compared to last week.
- Director Omid Kordestani (C) was the lone seller at Twitter (TWTR), offloading $11.1mm worth of shares
- There were multiple sellers at Nuance Communications (NUAN) following their earnings and the stock hitting an all-time high
- CEO Mark Benjamin (A) sold $4.9mm, CFO Daniel Tempesta (B+) sold $4.3mm, CLO Wendy Cassity sold $1mm and each of CRO Robert Dahdah and CAO Arthur Giterman each sold less than $1mm worth of shares for a total of $10.9mm
- This is the CEO’s first sale since April-20
Mid-cap companies with most aggregate insider sells this week (Tracker link here)
- Berkeley Lights (BLI) Co-Founder and director Igor Khandros (C-) sold $86.7mm worth of shares. Director Michael Marks (C-) sold $29.9mm worth of shares on behalf of Walden Riverwood Ventures, an investment firm of which Marks is a partner
- Director Mike Volpi (D) was the lone seller at Sonos (SONO), offloading $25.7mm worth of shares. This was on behalf of Index Ventures, an investment firm of which Volpi is a partner.
For small-caps… (Tracker link here)
There were 3 companies with more than $5mm in net sales:
- Director Paul Giovacchini (A-) sold $96.8mm worth of TPI Composites (TPIC) shares on behalf of Landmark Growth Capital Partners, an investment firm which Giovacchini is a partner of. Directors Steven Lockard (A-) and Daniel Weiss (C+) sold $5.9mm and $.627mm worth of shares respectively
- Director Richard Fried (C-) was the lone seller at Playa Hotels & Resorts N.V. (PLYA), offloading $64mm worth of shares. This was on behalf Farallon Partners, an investment firm of which Fried is a partner.
Large-cap companies with most aggregate buys this week (Tracker link here)
There were no mid-cap companies with more than $1mm in net buying
For small-caps… (Tracker link here)
There were two companies with more than $1mm in net buying:
- Director Seth Harrison (C-) was the lone buyer at Stoke Therapeutics (STOK), purchasing $14.6mm worth of shares.
- CEO Sardar Biglari (C) was the lone buyer at Biglari Holdings, purchasing $2.6mm worth of shares.
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