Finally got a chance to check out those insider selling numbers you provided and they seem pretty accurate. This is unbelievable and outright scary that insider have actually sold (better word would be dumped or trashed) over a quarter of billion (that is with a B) shares which is about on fifth of the whole float.
Even Zuckerberg it seems has been busy dumping according to several site including that of Yahoo.
Very very scary.
Point aboutinside selling is moot. A shareholder is a shareholder. A seller has to have a buyer.
And what you call 'insiders' are just people at the IPO who for the most part have no 'inside' knowledge
whatsoever about FB financials or future. They just were able to participate in the offering under
the lock-up conditions.
So for all the sheep watching 'insider selling'' you're wasting your time.
They said same about Google at $100, siz months into the IPO. go back and look at those old GOOG posts.
How smart were those insider sellers now?
Evolve your brain
Sentiment: Strong Buy
I checked the Yahoo finance site and your numbers seem to be copied from there exactly. But how accurate is Yahoo numbers? I simply can not imagine that insiders sold over 253 million shares where as the whole float is just about 5 times that. Does anyone else here knows where else to go to verify these numbers? If these numbers are correct then FB is in big trouble and I won't be surprised if it crashes below its 52 weeks low in short order.
Again, the main question is are Yahoo's numbers anywhere close to actual shares sold. I am also surprised by meager and negligible number of share bought by insiders even when the pps dropped around $17. Think there may be something wrong with Yahoo numbers.
I'll reserve judgement until bulls here provide their side of view as to the accuracy of these Yahoo numbers.
If those insider selling numbers are correct, which appear to be as nobody has so far contested them that I could see, and even without the wrong claim by the CEO that FB has more mobile users than the top two smartphone companies, we may be looking for a rough patch for the stock. Depending how things go I may sell all my long shares within minutes of open tomorrow.
This looks bad.
How in the world did everyone missed noticing such a huge avalanche of insider selling ? This is not good for the stock. And what do insiders and Zuckerberg know that others don't? I checked out Yahoo and the numbers seem very accurate. Heck we are talking about hundreds of millions of shares sold by insiders and the CEO. And even in terms of percentage of the float the numbers are an astonishing 25% of the float and nearly 10% of all shares outstanding.
Frankly, I am simply baffled by the breath of insider selling. Such large sells by those that usually know more about what is going on, the insiders, is always always always a very ominous sign and once exposed will always always always cause a major stock dumping by retail investors and those hedge funds that were sleep at the wheel.
But gain the big question is why such major insider selling (so major that is almost like an insider capitulation and dumping). Could it be that Facebook has realized that their hundreds of millions of users will quickly mover on to other social networking sites if disturbed by different monetizing efforts. Or may be insiders have figured out the stock is topped and will be going down from here? Or may be an internal analysis of the make up of their users is caused major internal concerns.
Anybody has any idea on what could insiders know that the rest of us don't that could have caused such a major rush to the exits by insiders?
I think I have a hunch as to why insiders may be selling such a large numbers of shares and in such a hurry. May be, just may be, because they know Zuckerberg more personally than the rest of us and they feel they simply can't trust this dude or even know many of his claims, such as his claim on mobile users, are either exaggerations or simply out right lies. After all wasn't it Zuckerberg that took the main inventors of Facebook, and his partners and classmates, to the cleaners and took over the whole Facebook read stole it) only to be sued by them which he settled (read lost) for tens of millions?
What are talking about? IPO or not does not matter. As a matter if fact when it is an IPO that is when insiders hold on to their shares if they believe in the company and think share prices are going higher based on insider knowledge they have about how well things are going. Nonetheless we are talking about over a quarter BILLION shares sold by insiders over a short few months. That is Billion with a B. even the CEO sold 36 Million shares. There must be a reason for rushing toward exits in such a hurry.
Sentiment: Strong Sell
Glad to see that at least you don't dispute the accuracy of Cmgmisty's numbers. And I did check the yahoo finance site and looked at some SEC fillings and those are 100% accurate numbers.
But you say this is small percentage of ownership? If true (I checked yahoo finance site and it shows exact numbers) then this is the largest percentage of the float (1.32 billion) or even shares outstanding (2.17 billion) in the shortest period of time I have ever seen (and I have been doing this over a couple of decades).
253 million shares sold by insiders (vs only negligible 47846 shares purchased...eventhough price even dropped to around $17 at one time and yet practically no insider bought any shares) represents almost 20% of the float. This is a huge number and almost represents near capitulation by many insiders with first hand knowledge of the companies finances and potential.
Somehow this huge insider selling was under the radar and was not noticed partly because company was able to change the subject to monitizing issues all the while they MZ was even exaggerating the number of mobile users.
Would you give any company a vote of confidence if within months from the ipo the insiders sold sold over 253 million shares , representing nearly 20% of the float, while NOT PURCHASING any shares (unless you ant to consider 47846 shares significant).
Remember, insiders know more than Cramer or anyone else out there about the company's finances, potential, etc etc. and those same insiders have been very busy SELLING, including MZ himself to the tune of 36000,000 shares.
Lets don't stick our heads in the sand and call this small!!! This is the largest percentage of float sold by insiders post IPO that I have ever seen or heard (except in late 1990's, and just before the 2000 tech crash, there were some fake/shell dotcoms with zero to a handful of employees).
This is BIG no matter how you cut it.
Sentiment: Strong Sell