Insider Trading Weekly – Slowdown in Selling, Minimal Buying
January 15, 2021

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

TTD, FB, SQ, DELL, PINS

Only 5 companies had more than $20mm in net sales, a decrease from 11 last week.

  • Co-founder and CEO Jeffrey Green (A-) was the lone seller at The Trade Desk (TTD), offloading $138.5mm with of shares.
  • COO Jeffrey Clarke and CFO Thomas Sweet (B+) sold $15.2mm and $7.6mm worth of Dell Technologies (DELL) shares respectively.

In addition to the bigger sales at large-cap companies, there were smaller but still significant net sales totaling $10-20mm at 4 large-cap companies.

DXCM, KMX, CI, AVTR
  • CEO Kevin Sayer (C) was the lone seller at DexCom (DXCM) offloading $17mm worth of shares.
  • There were 4 individual sellers at CarMax (KMX). EVP Thomas Reedy, CEO William Nash (C), COO Edwin Hill, and SVP. Diane Cafritz sold $3.7mm, $6.2mm, $5mm, and $1.9mm worth of shares respectively.

Selling was down significantly in the large-cap sector. There was about $400mm in sales the last week, down from $1.2b in the first week of 2021.

Mid-cap companies with most aggregate insider sells this week

NCNO, ONEM, AMRC, GME

There were 4 companies with more than $10mm in net sales: 

  • Director Kurtis Wolf (D) was the lone seller at GameStop Corp. (GME), selling $17.2mm worth of shares. This was on behalf of Hestia Capital, an investment firm where Wolf is a partner. GameStop shares soared this week after a short squeeze.
  • There were over 10 individual sellers at nCino (NCNO), with numerous selling less than $.1mm worth of shares. Chief Corporate Development & Legal Officer Gregory Orenstein was the biggest seller, with $4.8mm in sales.

For small-caps…

BLNK, LOVE, CASH, ESTA, PI, VCRA
  • Founder and CEO Michael Farkas (D) was the lone seller at Blink Charging (BLNK), selling $22.1mm worth of shares.

The Buyers 

Across large-cap and mid-cap companies, no insiders bought more than $1mm worth of shares. 

Small-cap companies with most aggregate buys this week

RILY, MRSN
  • Director Andrew Hack bought $2.8mm shares of Mersana Therapeutics (MRSN). This was on behalf of Bain Capital, an investment firm where Hack is a MD.

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