This sell cluster is too small relative to market cap to warrant action. Monitor for larger insider sales (>0.5% of market cap) or a pattern of sustained selling that could signal a change in business outlook. The next quarterly earnings release will be the key catalyst to watch.
Price Chart
Executive Summary
Two co-founders (CEO and Chief Underwriting Officer) sold a combined $2.07M in open-market shares over a two-day window. The CEO's $967K sale and the CUO's $1.11M sale represent 0.077% of the $2.7B market cap, which is below the 0.1% threshold for materiality. While cluster sells by C-suite insiders can be concerning, the dollar amount is trivial relative to company size and the historical performance shows past bearish calls on ARX have been wrong (T+5 moves were positive in 3 of 4 short calls). The calibration data shows score-6 and score-7 have below-50% observed probability of up-moves, but this is a sell cluster so that metric is irrelevant. The cross-filing actuarial verdicts show multiple amplifier pairs, but none apply here as there are no earnings, restatement, late filing, or offering contexts present. Overall, this is a routine, immaterial sell cluster.
Key Financial Metrics
Key Facts
- CEO Jeffrey Radke sold 80,000 shares for $967K on 2026-08-10
- CUO Francis O'Neill sold 89,219 shares for $1.11M on 2026-08-11
- Total insider sales of $2.07M represent only 0.077% of ARX's $2.7B market cap
- Both sellers are co-founders and C-suite executives
- No 10b5-1 plan information available in the filing
Financial Impact
Total insider sales of $2.07M, representing 0.077% of market cap — immaterial
Risk Factors
- Insider selling could accelerate if business fundamentals deteriorate
- Co-founders selling may signal reduced conviction in growth trajectory
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ARX-1786612405131 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 7w ago | DEFA14A / 8-K | $19.58 $19.83 | ▲ +1.28% | ▲ +3.27% | $19.73 (+0.77%) |
Aug 14, 2026 7w ago | Insider Cluster | $19.58 $19.83 | ▼ −1.28% | ▼ −3.27% | $19.73 (−0.77%) |
Aug 13, 2026 7w ago | DEFA14A | $19.51 $19.84 | ▲ +1.69% | ▲ +3.44% | $19.73 (+1.13%) |
Aug 13, 2026 7w ago | 8-K | $19.51 $19.84 | ▲ +1.69% | ▲ +3.44% | $19.73 (+1.13%) |
Aug 12, 2026 7w ago | Insider Cluster | $13.61 $19.84 | ▲ +45.78% | ▲ +47.67% | $19.73 (+44.97%) |
Aug 5, 2026 8w ago | Insider Cluster | $12.26 $19.70 | ▼ −60.69% | ▼ −61.29% | $19.73 (−60.93%) |
Jul 29, 2026 9w ago | Insider Cluster | $11.20 $19.69 | ▲ +75.80% | ▲ +71.84% | $19.73 (+76.16%) |
Jul 29, 2026 9w ago | Insider Cluster | $12.40 $19.67 | ▲ +58.63% | ▲ +53.61% | $19.73 (+59.11%) |
Jul 28, 2026 9w ago | Insider Cluster | $14.72 $19.67 | ▼ −33.63% | ▼ −30.25% | $19.73 (−34.04%) |
Jul 24, 2026 10w ago | 144 | $14.23 $19.59 | ▼ −37.67% | ▼ −34.04% | $19.73 (−38.65%) |
US Market Status
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