$17M Bet on Lions Gate—While Tech Insiders Race for the Exits

Today's Top Insider Moves That Matter

Tech stocks soared, semis exploded, and consumer names caught fire—but behind the scenes, high-ranking executives were cashing out fast. Major players in AI, cybersecurity, and cloud dumped tens of millions in stock just as valuations stretched to new highs. It wasn’t just trimming—it was full-blown profit-taking.

At the same time, biotech insiders quietly piled in. One dropped $8.5M into a lesser-known therapeutic name. Another syndicate swept up nearly $50M in a cluster buy that screams long-term conviction. Even in financials, we spotted strategic reloading from seasoned operators.

So while markets look euphoric, the smart money is acting clinical. Today’s Form 4 filings reveal what the headlines won’t: insiders are betting the rally’s real in some corners—and fleeting in others. Let’s break down the trades that truly matter.

Biggest Insider Sales

🛰 BigBear.ai $BBAI ( ▲ 21.31% ) – $78.5M Exit from a 10% Owner

• Who’s Selling? Pangiam Ultimate Holdings, LLC (10% Owner)

• What They Sold: 27.4M shares at $2.86

• Total Value: $78.5M

• Why It Matters: This wasn’t a trim—it was a near-total exit, with just 197K shares left. When a major stakeholder bails on an AI play, it raises serious questions about confidence in the near-term upside.

🔐 Palo Alto Networks $PANW ( ▲ 1.67% ) – $18.3M From the Chief Product Officer

• Who’s Selling? Lee Klarich (EVP, Chief Product Officer)

• What They Sold: 120,774 shares at $151.14

• Total Value: $18.3M

• Why It Matters: Klarich still holds over 1M shares, but a sale this size hints at a reset after PANW’s recent run. Noteworthy timing for a high-profile tech name navigating intense competition and macro scrutiny.

🎮 Roblox $RBLX ( ▲ 1.36% ) – $16.5M Sale by the CEO

• Who’s Selling? David Baszucki (President, CEO, 10% Owner)

• What They Sold: 314,098 shares at $52.48

• Total Value: $16.5M

• Why It Matters: Baszucki's been trimming regularly, but this one stood out—his holdings dropped 23%. Could be routine, but in a metaverse name still proving its monetization model, it’s worth noting.

🌐 Arista Networks $ANET ( ▲ 3.48% ) – $10.7M From the CTO

• Who’s Selling? Kenneth Duda (CTO, SVP Software Engineering)

• What They Sold: 159,970 shares at $66.79

• Total Value: $10.7M

• Why It Matters: Arista’s riding the AI and cloud boom, yet this sizable sale clipped 8% off Duda’s stake. Doesn’t scream panic, but it’s not chump change either.

🐾 Datadog $DDOG ( ▲ 1.93% ) – CEO Cashes Out $9.4M

• Who’s Selling? Olivier Pomel (CEO)

• What They Sold: 107,365 shares at $87.33

• Total Value: $9.4M

• Why It Matters: A 16% reduction in personal holdings by the CEO. Datadog’s had a solid quarter, but this move suggests Pomel may be hedging expectations going forward.

While tech execs trim at the top, others are doubling down. Let’s jump into today’s boldest insider buys—including a rare bet on a SPAC comeback.

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