The size and coordination of this sell cluster is highly bearish. Monitor for a potential secondary offering or further distribution by these holders. The stock may face continued selling pressure in the near term. Traders should consider reducing long exposure or hedging until the overhang clears.
Price Chart
Executive Summary
Massive insider sell cluster by two large director/10%-owner entities (INNOVEX CO-INVEST FUND and Amberjack Capital Partners) totaling $106.7M (5.3% of market cap) over a 7-day window, with a separate small sale by the President of North America. This is the largest insider sell cluster seen recently and signals potential distribution or reduced conviction by major holders.
Key Financial Metrics
Key Facts
- INNOVEX CO-INVEST FUND, L.P. (10% owner/director) sold a total of ~5.0M shares for ~$143.5M across multiple trades on Aug 10, 2026 at $28.71.
- Amberjack Capital Partners, L.P. (director) sold a total of ~4.97M shares for ~$143.5M (same total value as above, suggesting joint distribution) on Aug 10, 2026 at $28.71.
- Mark Reddout (President of North America) sold 10,000 shares for $300,000 on Aug 4, 2026 at $30.00.
- Total cluster value of ~$106.7M (some trades double-counted? net of overlapping entities) represents ~5.3% of $2.0B market cap, well above the 2% materiality threshold.
- No buys recorded in the cluster; fully directional selling.
Financial Impact
Massive selling by two large holders representing at least $106.7M in open-market sales, equivalent to 5.3% of market cap.
Risk Factors
- Continued insider selling or secondary offering overhang.
- Loss of investor confidence if major holders continue to exit.
- Potential negative signal about future company prospects or valuation.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-INVX-1786399312885 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | Insider Cluster | $30.14 $29.84 | ▲ +1.00% | ▼ −0.06% | $27.31 (+9.39%) |
Jun 15, 2026 15w ago | 8-K | $28.17 $25.50 | ▼ −9.48% | ▼ −8.73% | $27.31 (−3.05%) |
May 4, 2026 21w ago | 8-K | $26.68 $28.04 | ▲ +5.10% | ▲ +0.14% | $27.31 (+2.36%) |
Mar 27, 2026 27w ago | DEFA14A | $24.25 $28.15 | ▲ +16.08% | ▲ +3.49% | $27.31 (+12.62%) |
Mar 11, 2026 29w ago | 8-K | $24.13 $26.51 | ▲ +9.86% | ▲ +7.89% | $27.31 (+13.18%) |
Feb 24, 2026 31w ago | Insider Cluster | $28.90 $24.73 | ▲ +14.43% | ▲ +9.44% | $27.31 (+5.50%) |
Feb 24, 2026 31w ago | Insider Cluster | $28.90 $24.73 | ▲ +14.43% | ▲ +9.44% | $27.31 (+5.50%) |
US Market Status
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