facts are facts. I am coherent enough to check the daily price action and notice a clear pattern staring me in the face. It is as if some institution simple decided: "If most of the insiders are dumping a portion of their stock after a great earnings quarter, we should probably trim some of our stake as well. Who knows the company better than them. Who knows how weak the upcoming quarter could be better than them". Not saying institutions are liquidating entirely, just following the insiders lead and taking a bit of profit. But remember it is the seller at the margin (if even only selling part of their holdings) that determines the stock price. The CEO dumping half his stake was a bit of a land mine.