The insider sales are too small relative to market cap to signal material bearish information. Monitor for any upcoming earnings or material events that could explain the timing, but this cluster alone does not warrant a trading action. The prior cluster (CLO sales) reinforces a pattern of routine, likely liquidity-driven sales.
Price Chart
Executive Summary
Two CART insiders, including the CEO and a director, sold a combined $8.67M in shares over a 7-day window. The director's $7.59M sale is the largest, representing ~0.06% of market cap, which is below the 0.1% materiality threshold. The CEO's $372K sale is routine. The cluster is dominated by sales, but the dollar amounts are trivial relative to the $11.9B market cap, suggesting liquidity-driven or 10b5-1 plan activity rather than a bearish signal. The historical win rate on CART reports is 67% at T+20, but the prior long call (score=6) underperformed, and the calibration data shows score-6 filings have only a 39% observed probability of an up-move at T+20, which does not support a bullish read here. The cross-filing context includes a prior cluster with a CLO selling $919K, reinforcing a pattern of routine insider sales. Overall, this is a neutral, low-impact event.
Key Financial Metrics
Key Facts
- Director Ravi Gupta sold 150,000 shares for $7.59M on 2026-08-19.
- CEO Chris Rogers sold 7,600 shares for $372K on 2026-08-19.
- CLO Morgan Fong sold 18,390 shares for $919K on 2026-08-24 (including derivative exercise).
- Total cluster value of $8.67M is ~0.07% of CART's $11.9B market cap.
- No open-market purchases in the cluster; all transactions are sales or derivative exercises.
Financial Impact
Total insider sales of $8.67M represent ~0.07% of market cap, well below the 0.1% materiality threshold.
Risk Factors
- Insider sales could accelerate if a broader negative catalyst emerges, but current volumes are trivial.
- No purchases to offset the selling signal, but the dollar amounts are immaterial.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-CART-1787810811090 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 31, 2026 4w ago | Insider Cluster | $50.52 $48.00 | ▼ −4.99% | ▼ −4.85% | $44.25 (−12.41%) |
Aug 26, 2026 5w ago | Insider Cluster | $50.77 $51.53 | ▲ +1.50% | ▲ +1.62% | $44.25 (−12.84%) |
Aug 21, 2026 6w ago | Insider Cluster | $49.83 $50.54 | ▲ +1.42% | ▲ +0.95% | $44.25 (−11.20%) |
Aug 17, 2026 6w ago | Insider Cluster | $48.86 $51.78 | ▲ +5.98% | ▲ +7.17% | $44.25 (−9.44%) |
Aug 6, 2026 8w ago | Press Release | $50.17 $48.88 | ▼ −2.57% | ▼ −2.97% | $44.25 (−11.80%) |
Jul 24, 2026 10w ago | Insider Cluster | $42.21 $44.75 | ▲ +6.02% | ▲ +5.64% | $44.25 (+4.83%) |
Jul 15, 2026 11w ago | Press Release | $47.61 $44.73 | ▼ −6.05% | ▼ −5.07% | $44.25 (−7.06%) |
Jun 4, 2026 17w ago | Insider Cluster | $41.26 $41.25 | ▼ −0.04% | ▼ −0.61% | $44.25 (+7.25%) |
May 6, 2026 21w ago | 8-K | $40.16 $39.06 | ▼ −2.74% | ▼ −3.87% | $44.25 (+10.18%) |
Mar 11, 2026 29w ago | Insider Cluster | $36.88 $37.79 | ▲ +2.47% | ▲ +4.66% | $44.25 (+19.98%) |
US Market Status
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