The cluster is too small relative to market cap to drive price action on its own. However, the pattern of two senior SVPs selling ~$3.5M within two days without a disclosed catalyst warrants monitoring for any upcoming earnings or operational update. The cross-filing amplifier suggests this cluster may be more informative than standalone proportionality suggests — watch for any press release or offering filing in the next 7 days that could explain the sales.
Price Chart
Executive Summary
Three Noble Corp insiders sold a total of $3.51M in open-market sales over a 7-day window, led by the SVP of Operations ($1.99M) and SVP of Marketing & Contracts ($1.48M). Director Charles Sledge sold a nominal $37K. The cluster is notable for its size ($3.51M = 0.04% of $8.2B market cap) and the involvement of two senior operations executives, but the dollar amount is below the 0.1% materiality threshold, and the sales lack a clear catalyst — no earnings, guidance, or material corporate event was filed in the window. The cluster is amplified by cross-filing context (cluster-insider-trades + cluster-press-context is an amplifier), but the standalone proportionality check keeps this as a low-impact event.
Key Financial Metrics
Key Facts
- Three insiders sold $3.51M total in open-market sales from May 5-12, 2026
- SVP Operations Joey Kawaja sold $1.99M (40K shares at $49.85) on May 5
- SVP Marketing Blake Denton sold $1.48M (30K shares at $49.31) on May 6
- Director Charles Sledge sold $37K (724 shares at $51.61) on May 12
- Total sales represent 0.04% of $8.2B market cap — below the 0.1% materiality threshold
- No earnings, guidance, or material corporate event filed in the trading window
- Prior 30-day insider activity: 5 sells totaling $4.4M (consistent pattern)
- Analyst consensus is 43% bullish (4 Strong Buy, 5 Buy, 12 Hold)
Financial Impact
Insider sales of $3.51M represent 0.04% of market cap — immaterial in absolute terms
Risk Factors
- Insider sales may precede negative operational news not yet disclosed
- Prior 30-day insider activity shows consistent selling pattern ($4.4M in 5 sells)
- No offsetting insider buying to signal confidence
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-NE-1778711638029 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 12, 2026 16w ago | 8-K | $45.15 $45.46 | ▲ +0.69% | ▼ −0.32% | $41.72 (−7.60%) |
Jun 1, 2026 17w ago | 8-K | $19.76 awaiting T+60 | awaiting T+60 | — | $41.72 (+111.13%) |
Jun 1, 2026 17w ago | 8-K | — | awaiting T+60 | — | — |
May 22, 2026 19w ago | 3 | — | awaiting T+60 | — | — |
May 22, 2026 19w ago | 8-K | — | awaiting T+60 | — | — |
May 15, 2026 20w ago | 144 | $19.76 awaiting T+60 | awaiting T+60 | — | $41.72 (+111.13%) |
May 6, 2026 21w ago | 144 | — | awaiting T+60 | — | — |
May 5, 2026 21w ago | 144 | — | awaiting T+60 | — | — |
May 5, 2026 21w ago | Insider Cluster | $49.95 $41.44 | ▼ −17.04% | ▼ −19.78% | $41.72 (−16.48%) |
Apr 30, 2026 22w ago | 144 | — | awaiting T+60 | — | — |
US Market Status
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