The insider selling cluster is too small relative to Natera's $30.5B market cap to warrant a bearish read. Botha's $5.78M sale is notable in absolute terms but routine for a director at a mega-cap. Monitor for any upcoming 8-K filings (earnings, guidance, or material agreements) that could provide context for the sales, but no immediate action required.
Price Chart
Executive Summary
Three Natera insiders sold a total of $6.46M in open-market sales over a 7-day window, led by Director Roelof Botha ($5.78M) and President Solomon Moshkevich ($392K). The sales represent ~0.02% of Natera's $30.5B market cap, falling well below the 0.1% materiality threshold for insider selling. Historical calibration shows a 30% win rate on prior NTRA reports with negative average alpha at T+20, suggesting the model has been over-scoring this ticker.
Key Financial Metrics
Key Facts
- Total insider sales of $6.46M represent ~0.02% of $30.5B market cap — trivial by proportionality standards
- Director Roelof Botha sold $5.78M (26,411 shares at $218.69), accounting for 89% of total cluster value
- President Solomon Moshkevich sold $392K (1,802 shares at $217.52)
- President John Fesko sold $292K (1,440 shares at $202.84) on May 26
- Director Eric Rubin received a non-cash grant of 2,124 shares ($0 value) — no economic signal
- No 10b5-1 plan disclosure or vesting pattern evident in the filings
- Historical calibration: prior NTRA reports have 30% win rate at T+20 with -3.97% average alpha vs SPY
Financial Impact
Total insider selling of $6.46M, representing 0.02% of market cap — immaterial
Risk Factors
- Insider sales could accelerate if stock continues to appreciate, but current volume is immaterial
- Historical model calibration suggests over-scoring risk on NTRA — prior calls with similar scores underperformed
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-NTRA-1780535136049 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 4, 2026 28d ago | Insider Cluster | $328.18 $341.79 | ▲ +4.15% | ▲ +5.36% | $410.35 (+25.04%) |
Aug 29, 2026 4w ago | Insider Cluster | $321.96 $328.59 | ▼ −2.06% | ▼ −2.20% | $410.35 (−27.45%) |
Aug 15, 2026 6w ago | Insider Cluster | $314.18 $327.72 | ▲ +4.31% | ▲ +5.50% | $410.35 (+30.61%) |
Aug 8, 2026 7w ago | Insider Cluster | $318.35 $314.18 | ▼ −1.31% | ▼ −1.26% | $410.35 (+28.90%) |
Aug 6, 2026 8w ago | Insider Cluster | $265.38 $310.78 | ▼ −17.11% | ▼ −15.89% | $410.35 (−54.63%) |
Jul 30, 2026 9w ago | Insider Cluster | $269.66 $265.38 | ▼ −1.59% | ▼ −5.21% | $410.35 (+52.17%) |
Jul 18, 2026 10w ago | Insider Cluster | $262.63 $261.99 | ▼ −0.24% | ▲ +0.18% | $410.35 (+56.25%) |
Jul 16, 2026 11w ago | Insider Cluster | $269.83 $264.69 | ▼ −1.90% | ▼ −0.23% | $410.35 (+52.08%) |
Jul 9, 2026 12w ago | Insider Cluster | $281.85 $269.83 | ▼ −4.26% | ▼ −4.13% | $410.35 (+45.59%) |
Jul 7, 2026 12w ago | Insider Cluster | $281.27 $272.66 | ▼ −3.06% | ▼ −3.61% | $410.35 (+45.89%) |
US Market Status
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