The CEO and CFO selling concurrently without a clear 10b5-1 pattern is worth monitoring, but the dollar amount is modest relative to market cap. Watch for any upcoming earnings pre-announcement or material news that could explain the timing. The cluster does not warrant a bearish stance by itself, but the sustained selling trend (30d total $12.8M) suggests insiders are taking advantage of elevated prices.
Price Chart
Executive Summary
Three insiders at NLIGHT, including the CEO and CFO, sold a total of $4.70M in open-market sales over a 7-day window. The CEO alone sold $3.20M on May 19, and the CFO sold $1.39M on May 18. At a $4.0B market cap, the cluster represents ~0.12% of market cap — modest but notable given the C-suite participation and the absence of 10b5-1 pattern evidence. The sales cluster around a period of elevated stock price ($68-$71 range), suggesting profit-taking or liquidity diversification rather than a bearish signal, consistent with the weak predictive power of insider sales clusters per the literature.
Key Financial Metrics
Key Facts
- Total insider sales of $4.70M over 7 days, representing ~0.12% of $4.0B market cap
- CEO Scott Keeney sold $3.20M on May 19 and $3.20M on May 18, totaling $6.40M across two days
- CFO Joseph Corso sold $1.39M on May 18
- CAO James Nias sold $111K on May 18
- No 10b5-1 plan evidence or regular pattern in dates/sizes to suggest routine selling
- Stock traded in $68-$71 range during sales, near recent highs
- Prior 30d insider activity: 9 sells totaling $12.8M, indicating sustained selling pressure
Financial Impact
Total insider sales of $4.70M, ~0.12% of market cap
Risk Factors
- Insider sales could precede negative news if informational, though cluster sales are weak predictors
- Sustained selling by C-suite may signal peak valuation concerns
- No offsetting insider buying to provide confidence signal
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-LASR-1779409607525 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | Institutional Cluster | $36.10 | awaiting T+20 | — | $36.71 (+1.69%) |
Sep 17, 2026 5w ago | Insider Cluster | $39.84 $33.67 | ▲ +15.49% | ▲ +15.69% | $36.71 (+7.86%) |
Sep 10, 2026 6w ago | Insider Cluster | $40.37 $38.48 | ▲ +4.68% | ▲ +6.55% | $36.71 (+9.07%) |
Sep 8, 2026 6w ago | Insider Cluster | $40.99 $39.88 | ▲ +2.71% | ▲ +4.91% | $36.71 (+10.44%) |
Sep 1, 2026 7w ago | Insider Cluster | $39.39 $38.95 | ▼ −1.13% | ▼ −1.05% | $36.71 (−6.80%) |
Jun 5, 2026 20w ago | Insider Cluster | $66.77 $65.30 | ▼ −2.20% | ▼ −3.83% | $36.71 (−45.02%) |
Jun 5, 2026 20w ago | Insider Cluster | $66.77 $65.30 | ▼ −2.20% | ▼ −3.83% | $36.71 (−45.02%) |
May 21, 2026 22w ago | Insider Cluster | $78.55 $62.75 | ▼ −20.11% | ▼ −18.69% | $36.71 (−53.26%) |
May 19, 2026 22w ago | Insider Cluster | $71.30 $64.73 | ▼ −9.21% | ▼ −9.96% | $36.71 (−48.51%) |
Apr 24, 2026 26w ago | DEFA14A | $75.79 $76.43 | ▲ +0.84% | ▼ −3.18% | $36.71 (−51.56%) |
US Market Status
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