Insiders at these companies including Meta and Coinbase are dumping stock during rally

[Pelican Press 0]

Insiders at these companies including Meta and Coinbase are dumping stock during rally

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sold more than 232,000 shares for about $115 million, according to securities filings and VerityData. Meta shares are up nearly 40% this year. Zuckerberg’s moves appear to be part of a 10b5-1 stock ***** plan adopted last summer. That plan, which lays out the path for potential sales ahead of time, could calm fears that Zuckerberg’s sales are a sign that he thinks the stock is overvalued. An even larger stock ***** came from Michael Dell, the CEO and namesake of Dell Technologies . Dell sold about 2 million shares over the course of three days last week, for a total of roughly $246 million, according to a securities filing. The tech founder has filed a Form 144 to sell 7 million shares, so more transactions could be coming, according to VerityData. This is his first ***** of Dell stock since the second quarter of 2021. Dell shares have soared more than 50% this year on optimism the AI ***** will lead to a replenishment of servers and PCs. Another notable insider ***** came from crypto company Coinbase . CFO Alesia Haas sold 64,000 shares at $228.45 for a total of about $15 million on March 5. Like Zuckerberg, Haas’ sales were made under a 10b5-1 plan. The sales are particularly notable given the run up in tech stocks. Shares of Meta Platforms are up nearly 170% over the past year. Dell and Coinbase are up 216% and 376%, respectively. Here are some other notable insider sales in recent days, according to VerityData and securities filings. Medpace Holdings — CEO August Troendle sold 300,000 shares for a total of about $123 million Permian Resources — Co-CEOs William Hickey III and James Walter sold 4 million shares apiece for a total of roughly $63 million. The shares were tied to an underwriting agreement from March 4. TechnipFMC — CEO Douglas Pferdehirt sold more than 1.3 million shares, generating about $30 million. The sales were made as part of 10b5-1 plan. Iron Mountain — CEO William Meaney sold 253,000 shares for about $20 million total. The sales were part of a 10b5-1 stock trading plan.

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Coinbase Global Inc,Dell Technologies Inc,Meta Platforms Inc,Permian Resources Corp,Medpace Holdings Inc,Iron Mountain Inc,TechnipFMC PLC,TechnipFMC PLC,Markets,Investment strategy,Mark Zuckerberg,business news
#Insiders #companies #including #Meta #Coinbase #dumping #stock #rally

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