The simultaneous CEO/CFO selling on Aug 17 is the most notable signal, but the dollar amount is small relative to market cap. Monitor for any upcoming 8-K filings (earnings, guidance, or material events) that could explain the cluster. If the stock continues to rally without insider buying, the selling pattern may become more concerning.
Price Chart
Executive Summary
Three Heritage Insurance insiders — CEO Ernie Garateix, CFO Kirk Lusk, and Timothy Moura — sold a combined $1.0M in open-market sales over a 7-day window. The CEO and CFO sold on the same day (Aug 17), and the cluster represents ~0.1% of the $1.0B market cap, which is at the threshold of materiality. While insider sales are generally weak predictors, the simultaneous C-suite selling warrants attention given the stock's recent run and the company's 78% bullish analyst consensus.
Key Financial Metrics
Key Facts
- CEO Ernie Garateix sold 10,000 shares total ($344K) on Aug 17-18
- CFO Kirk Lusk sold 10,000 shares ($342K) on Aug 17
- Timothy Moura sold 15,100 shares ($491K) on Aug 10
- Total cluster value: ~$1.0M, or ~0.1% of $1.0B market cap
- All three sales were open-market (code S), not tax-withholding or option exercises
- Prior 30-day insider activity: 5 sells totaling $1.5M
Financial Impact
$1.0M in insider sales over 7 days, representing ~0.1% of market cap
Risk Factors
- Insider sales may signal management's view that the stock is fully valued near $34
- Cluster could be driven by blackout-window opening or 10b5-1 plans, reducing informational content
- Stock has rallied significantly (historical reports show large positive moves), increasing temptation to take profits
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-HRTG-1787198581737 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | 144 | $36.98 $37.08 | ▲ +0.27% | ▼ −0.25% | $36.21 (−2.08%) |
Oct 19, 2026 8d ago | Press Release | $36.98 | awaiting T+1 | — | $36.21 (−2.08%) |
Sep 25, 2026 4w ago | SC 13G/A | $33.26 $33.49 | ▲ +0.69% | ▲ +0.88% | $36.21 (+8.87%) |
Sep 22, 2026 5w ago | Insider Cluster | $33.07 $33.18 | ▲ +0.33% | ▲ +0.41% | $36.21 (+9.50%) |
Sep 18, 2026 5w ago | 144 | $34.15 $33.50 | ▼ −1.90% | ▼ −1.89% | $36.21 (+6.03%) |
Sep 16, 2026 5w ago | Insider Cluster | $35.42 $34.42 | ▲ +2.82% | ▲ +2.70% | $36.21 (−2.23%) |
Sep 11, 2026 6w ago | Insider Cluster | $35.09 $34.78 | ▼ −0.88% | ▼ −0.42% | $36.21 (+3.19%) |
Sep 8, 2026 7w ago | Insider Cluster | $34.05 $34.53 | ▼ −1.41% | ▼ −2.01% | $36.21 (−6.34%) |
Aug 26, 2026 8w ago | Insider Cluster | $34.15 $33.86 | ▲ +0.85% | ▲ +0.62% | $36.21 (−6.03%) |
Aug 21, 2026 9w ago | Insider Cluster | $34.59 $34.20 | ▼ −1.13% | ▼ −1.45% | $36.21 (+4.68%) |
US Market Status
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