The cluster is too small to generate a trade signal. With no C-suite participation and the amount negligible relative to market cap, investors should treat this as routine portfolio management. Monitor for any material corporate events (e.g., earnings, M&A) that might trigger more meaningful insider activity, but no immediate action warranted.
Price Chart
Executive Summary
A cluster of three insiders (two EVPs and one director) sold a total of $1.41M in MIAX stock over a one-week window. The total value represents only 0.04% of the company's $3.8B market cap, making the cluster economically trivial. Most insider activity in the same period consisted of routine non-cash director grants, reinforcing that these sales are likely diversification or tax-related, not a bearish signal.
Key Financial Metrics
Key Facts
- Total insider sales of $1.41M represent 0.04% of $3.8B market cap — well below the 0.1% materiality threshold
- Three sellers: EVP & Chief Strategy Officer Brown ($209K), EVP & CISO/CRO Jayabalan ($392K), Director Schwarzkopf ($814K)
- No C-suite (CEO, CFO, COO) participated; the broader 7-day window included numerous non-cash director grants
- Analyst consensus is 67% bullish with no sell ratings, indicating broad positive sentiment among analysts
Financial Impact
Insider sales total $1.41M, or 0.04% of market cap — immaterial
Risk Factors
- No material risk identified from this cluster given its trivial size
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MIAX-1781728392071 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Insider Cluster | — | awaiting T+1 | — | — |
Oct 1, 2026 25d ago | Press Release | $33.75 $33.01 | ▼ −2.19% | ▼ −2.93% | $33.16 (−1.75%) |
Sep 4, 2026 7w ago | Insider Cluster | $43.46 $42.89 | ▼ −1.31% | ▼ −0.85% | $33.16 (−23.70%) |
Sep 4, 2026 7w ago | Insider Cluster | $43.46 $42.89 | ▼ −1.31% | ▼ −0.85% | $33.16 (−23.70%) |
Aug 19, 2026 9w ago | Insider Cluster | $41.32 $42.59 | ▲ +3.07% | ▲ +2.66% | $33.16 (−19.75%) |
Aug 19, 2026 9w ago | Insider Cluster | $41.32 $42.59 | ▼ −3.07% | ▼ −2.66% | $33.16 (+19.75%) |
Aug 6, 2026 11w ago | Insider Cluster | $44.23 $43.59 | ▲ +1.45% | ▲ +1.42% | $33.16 (+25.03%) |
Jul 16, 2026 14w ago | Insider Cluster | $42.33 $42.04 | ▼ −0.69% | ▼ −0.52% | $33.16 (−21.66%) |
Jul 14, 2026 14w ago | Insider Cluster | $42.43 $42.89 | ▲ +1.08% | ▲ +1.63% | $33.16 (−21.85%) |
Jul 7, 2026 15w ago | Insider Cluster | $41.86 $42.99 | ▲ +2.70% | ▲ +1.85% | $33.16 (−20.78%) |
US Market Status
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