Insider Trading Weekly – Investors Close Positions, Minimal Buying
December 21, 2020

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.

The Sellers 

Large-cap companies with most aggregate insider sells this week

WMT, SQ, FB, ESTC, CPRT, PTON, CHWY, CRWD, ZI, ZS, PINS, BGNE

12 companies had more than $20mm in large-cap sales. Nothing out of the ordinary here, major execs continue to offload shares, predominantly via their 10b5-1 trading plans.

  • President of Global Sales and Field Operations Michael Carpenter was the lone seller at CrowdStrike Holdings (CRWD), selling $30.5mm worth of shares.
  • Two big names sold shares at Peloton (PTON). CEO John Foley (B-) and president William Lynch (C+) sold $12.6mm and $20mm worth of shares respectively. Both men also serve on the board of the fitness company.
  • Director S Robson Walton (D) continued to be a big seller at Walmart (WMT), offloading $119.9mm worth of shares. Walton has now sold over $600mm worth of shares this year. Walmart EVP Marc Lore also sold $13.1mm worth of shares.

In addition to the bigger sales at large-cap companies, there were smaller but still significant net sales totaling $10-20mm at 9 large-cap companies.

WDAY, NET, OKTA, RUN, TTD, ZNGA, AME, QCOM, CVNA
  • President Cristiano Amon was the lone seller at QUALCOMM (QCOM), offloading $10.9mm worth of shares. Shares dropped this week after the announcement of Apple developing it’s own chips.
  • There were 7 individual sellers at Okta (OKTA). The two biggest were CFO William Losch (B) and director Michael Kourey (C+), who sold $8.2mm and $5.2mm worth of shares respectively. A collection of 5 other executives and directors sold shares in varying amounts $1mm and less, including CEO Todd McKinnon (B).

Mid-cap companies with most aggregate insider sells this week

OPCH, LPRO, SPCE, WW, TWST, OLED, DY, YELP

There were 8 companies with more than $10mm in net sales: 

  • Directors Timothy Sullivan (B) and Elizabeth Betten (C) were the big sellers at Option Care Health, each offloading $150mm worth of shares. This was on behalf of Madison Dearborn Partners, an investment firm where Sullivan is a partner and Betten a managing director.
  • Directors Gene Yoon (A) and Blair Greenberg (A) were the big sellers at Open Lending Corporation (LPRO), offloading $130mm worth of shares each. This was on behalf of Bregal Sagemount, an investment firm where both men are partners. CEO John Flynn (A) and director Ross Jessup (A) also sold $12.4 and $14.1 worth of shares respectively.

For small-caps…

NSSC, INSG, SI
  • CEO Richard Soloway (A) was the lone seller at NAPCO Security Technologies (NSSC), offloading $55.2mm worth of stock. Shares are down YTD.
  • Director Scott Reed (B+) was the lone seller at SIlvergate Capital Corporation (SI), offloading $17.1mm worth of shares

The Buyers 

There were no large-cap companies with more than $1mm in net buys 

Mid-cap companies with most aggregate buys this week

UHAL
  • CEO Edward Shoen (B+) was the lone buyer at Amerco (UHAL), purchasing $2.1mm worth of shares. Edward is the son of founder Leonard Shoen.

Small-cap companies with most aggregate buys this week

ALXO, SONA, BH
  • Director Graham Walmsley (C-) was the lone buyer at ALX Oncology Holdings (ALXO), purchasing $1.5mm worth of shares. This was on behalf of Logos Global Management, an investment firm where Walmsley is a partner.

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