Agreed. Once an IPO breaks price the institutional investors who the bankers pressured to help get the deal done dump their shares since their obligation to support the IPO has been discharged. All of the breathless chatter about "insider buying" is just referencing the form reports of those initial insider VC purchases of 50% of the IPO needed to get the deal done from the company side. The VCs and executives are still in the lockout so cannot trade for 180 days from the IPO.