The insider sales are modest relative to market cap and follow a 10% YTD stock decline (from ~$73 to ~$66). The combination of earnings with margin pressure and insider selling warrants caution, but the historical calibration for WHD shows prior bearish calls averaging -2.67% at T+20, suggesting the market may already be pricing in headwinds. No immediate catalyst to trade on — monitor Q3 guidance execution and whether insider selling continues above 0.5% of market cap.
Price Chart
Executive Summary
Cactus, Inc. insiders sold $15.89M in open-market shares within a week of Q2 earnings showing revenue up 64% YoY but operating margins compressing and Q3 guidance for a sequential decline. The CEO, President, and EVP jointly sold, representing 0.29% of market cap — modest in scale. While the cluster is notable for involving top executives, the academic literature shows cluster sells are not reliably informative, and the 8-K earnings report (neutral, impact 5) tempers the bearish read. The calibration overrides for this combo (amplifiers) are neutralized by the historical record showing -2.67% average T+20 call P&L, suggesting prior bearish leans on WHD have underperformed.
Key Financial Metrics
Key Facts
- CEO Scott Bender sold 100,000 shares for $6.39M on 2026-08-03
- President Joel Bender sold 100,000 shares for $6.39M on 2026-08-03
- EVP Tadlock sold 38,455 shares for $2.45M on 2026-08-03
- Director John O'Donnell sold 10,000 shares for $661K on 2026-08-05
- Total open-market sales: $15.89M, or 0.29% of $5.5B market cap
- Q2 2026 revenue $449.5M (+64% YoY) but operating margin compressed to 18.6% from 22.2%
- Management guided Q3 revenue down sequentially
- Dividend increased 7% to $0.15/quarter
Financial Impact
Open-market insider sales of $15.89M represent 0.29% of market cap, below the 0.5% threshold for significant materiality
Risk Factors
- CEO and President selling simultaneously could signal peak-cycle concerns for oilfield equipment demand
- Q3 sequential revenue guidance and margin compression may worsen if U.S. rig count declines
- Calibration history shows cluster sells at WHD have not been predictive of near-term downside
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-WHD-1786082582150 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 2, 2026 4w ago | Insider Cluster | $71.64 $63.44 | ▼ −11.45% | ▼ −10.26% | $62.19 (−13.19%) |
Aug 6, 2026 8w ago | Insider Cluster | $68.54 $71.64 | ▼ −4.52% | ▼ −3.92% | $62.19 (+9.26%) |
Aug 6, 2026 8w ago | Insider Cluster | $68.54 $71.64 | ▲ +4.52% | ▲ +3.92% | $62.19 (−9.26%) |
Aug 5, 2026 8w ago | 3 | $65.91 $72.14 | ▲ +9.45% | ▲ +10.05% | $62.19 (−5.64%) |
Aug 3, 2026 8w ago | Insider Cluster | $67.21 $70.69 | ▼ −5.18% | ▼ −6.42% | $62.19 (+7.47%) |
Aug 3, 2026 8w ago | Insider Cluster | $67.21 $70.69 | ▲ +5.18% | ▲ +6.42% | $62.19 (−7.47%) |
Jul 29, 2026 9w ago | Insider Cluster | $62.00 $68.53 | ▲ +10.53% | ▲ +6.57% | $62.19 (+0.31%) |
Jul 29, 2026 9w ago | 8-K | $62.00 $68.53 | ▲ +10.53% | ▲ +6.57% | $62.19 (+0.31%) |
Jul 2, 2026 13w ago | Court Ruling | $50.42 $62.00 | ▼ −22.97% | ▼ −23.38% | $62.19 (−23.34%) |
Jun 2, 2026 17w ago | 8-K | $58.80 $50.42 | ▼ −14.25% | ▼ −13.25% | $62.19 (+5.77%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access