Insider Selling

3 Companies where Insiders are filing Form 144s in hefty values

In 2022, hoards of corporate insiders are giving intentions to sell company shares. This week, the insiders who frequently trade in company stock have filed Form 144s all in large price ranges. 

Baidu Inc (BIDU: US)

Baidu is an AI company with a strong standing on the internet and is the owner of China’s most advanced AI image generator. The company has a current Market Capitalization of nearly $35.9 billion. Year-to-date, BIDU’s stock price is down by almost 27.92%. 

Unlike others on this list, the insider at Baidu is a close relative of an A-level insider. Ma Dongmin (Melissa) is the wife of Baidu’s chairman and trades BIDU stock on a recurring basis. On September 29, 2022, she made her first intention to sell since July this year, filed via the broker, Goldman Sachs & Co LLC. The form was for 675,000  ADRs (American Depository Receipt) made at an approximate value of $79.46 million. 

Previously on August 30, 2022, Baidu disclosed its quarterly results for Q2: the company’s total revenues reached nearly $29.6 billion, which is slightly lower when compared year-on-year. Meanwhile, Wall Street is projected to report more bullish results for its next quarter’s results.

Monolithic Power Systems Inc (MPER: US)

Monolithic develops and sells semiconductor-based solutions for multiple sectors. The company has a current Market Capitalization of $15.1 billion and MPWR’s stock value has declined by nearly 34.73% year-to-date.

Five Insiders at the company filed Form 144s on October 3. All forms were filed via the broker, E-Trade Financial Corporation, and all at a share price of $377.0.

  • The company’s CFO, Theodore ‘Bernie’ Blegen, filed an intention to sell 905 shares worth almost $341,000.
  • Vice President, Saria Tseng, filed a form 144 for 4,305 shares valued at around $1.62 million.
  • Michael Hsing - the Chairman of the Board, President as well as CEO - disclose his plans to sell 10,960 shares worth around $4.13 million. 
  • Maurice Sciammas, Monolithic’s Senior Vice President, intends to sell 4,305 shares valued at nearly $1.62 million. 
  • Like Tseng and Sciammas, the company’s divisional president - Deming Xiao - filed his own intention for 4,305 shares worth $1.62 million as well. 

On August 1, 2022, Monolithic disclosed their Q2 2022 results which listed a rise in revenues of almost 22.1% in comparison to the revenues earned in the previous quarter. Later, on September 15, 2022, Monolithic announced its Q3 dividend of $0.75 per share. 

Ginkgo Bioworks Holdings Inc (DNA: US)

Belonging to the biotechnology sector, Ginkgo was founded in 2008 as a platform for programming biological cells. Presently, the company has a Market Capitalization of nearly $5.34 billion while DNA’s stock price is down by almost 67.20%.

At a rate of $2.98 price per share, four insiders at Ginkgo filed intentions to sell on October 11. Filed via the broker, Fidelity Brokerage Services, all insiders intend to sell 200,435 shares worth a total value of $597,296. 

  • Che Austin - Founder and Head of Division
  • Bartholomew ‘Barry’ Canton - Founder and CTO
  • Jason R. Kelly - Founder and CEO
  • Reshma Padmini Shetty - Founder and COO

On the same day as these filings, Ginkgo announced that it would be collaborating with Merck, an international pharmaceutical company, to develop enzymes to be used as biocatalysts in Merck’s API manufacturing plans. Previously on August 15, 2022, Ginkgo divulged its results for 2022’s second quarter which included revenues valued up to $44 million. This signifies a rise of a whopping 104.8% year-on-year. 

With the possible exception of Baidu Inc, all the aforementioned companies have given well bullish results in their last reported quarter. Furthermore, Analysts have given each of these stocks either a buy or a hold rating which means that they can still have a price turnaround. 

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