Insider Trading Weekly – Selling of Big Technology Names and Little Buying: AMZN, SQ, FB, CSCO, and More
November 20, 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 (Tracker link here)

U, PLTR, SQ, FB, CDAY, NET, GM, PINS, ALB, DELL

There was less selling than last week, with 10 companies having more than $20mm in net sales. Here are the highlights:

  • Co-Founder and CEO Mark Zuckerberg was responsible for the bulk of the selling at Facebook (FB), offloading $51.2mm worth of shares. The other sellers responsible for $0.61mm worth of shares were General Counsel Jennifer Newstead and CFO David Wehner. Last week Zuckerberg sold $48.5mm worth of shares.
  • CEO Mary Barra sold $23.1mm of General Motors Company (GM) shares, while EVP and CIO Randall Mott sold $1.1mm worth of shares.
  • Palantir Technologies (PLTR) had 7 insiders sell over $87.4mm worth of shares. Following the company’s direct listing this fall, elevated selling levels were expected.

In addition to the bigger sales at large-cap companies, there were smaller but still significant net sales totaling $10-20mm at 14 large-cap companies. 

CRWD, PTON, SCHW, TSLA, BYND, COUP, AMZN, SNAP, CSCO, ZG, ABBV, SCI, SCCO, SBUX
  • Director Robyn Denholm sold $17.8mm worth of Tesla (TSLA) shares while CFO Zachary Kirkhorn sold $0.6mm worth of shares. We covered Tesla leadership pledging practices this past summer.
  • Amazon VPs, division leaders, and the CFO all sold shares with transactions ranging from $.9mm to $4.2mm for a total of $16.1mm.
  • Vice Chairman Carlos Alban was the lone seller at AbbVie (ABBV), offloading $11.6mm worth of shares.

Mid-cap companies with most aggregate insider sells this week (Tracker link here)

BIGC, ASH, RVLV, RVMD, SWAV, AGCO, IIVI, QLYS, EEFT, DLB, WMS, SWI, BSY

There continued to be a lot of selling at mid-cap businesses this past week, with 13 companies having $10mm or more in sales:

  • BigCommerce Holdings (BIGC) director Lawrence Bohn, director Steven Murray, and CEO Brent Bellm constituted the bulk of selling, with sales of shares worth $64.6mm, $60mm, and $10.6mm respectively. A collection of executives filled out the remainder of the total $162.5mm in sales.
  • Director Ricky Sandler functioned essentially as the lone seller at Ashland Global Holdings, selling $123.6mm worth of shares. CFO J. Kevin Willis and SVP Peter Ganz sold $.1mm worth of shares collectively.
  • Director Hadley Mullin was the lone seller at Revolve Group (RVLV), offloading $96.1mm worth of shares.

For small-caps… (Tracker link here)

VITL, TCS, FLGT, TPIC, TTGT

There were 5 companies with more than $3mm in sales:

  • Vital Farms (VITL) was the standout. Directors Glenda Chamberlain and Karl Khoury sold $38.9mm and $7.2mm worth of shares respectively.

The Buyers 

Insider buying was essentially non-existent at large-cap companies this week, with no net buying greater than $1mm

Mid-cap companies with most aggregate insider buys this week (Tracker link here)

MPLN, REYN
  • At MultiPlan Corporation (MPLN), director Michael Klein bought $9.9mm worth of shares while President of New Markets Paul Galant bought $0.2mm worth of shares.

For small-caps… (Tracker link here)

ORGO, KROS, BH
  • At Organogenesis Holdings (ORGO) directors Alan Ades and Glenn Nussdorf were the big buyers purchasing $5.5mm and $2.7mm worth of shares respectively. Directors Wayne Mackie and Arthur Leibowitz bought $.1mm worth of shares collectively.
  • At Keros Therapeutics (KROS) directors Ran Nussbaum and Tomer Kariv each bought $3mm worth of shares.

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