Asana’s CEO Won’t Stop Buying

Today's Top Insider Moves That Matter

Big Tech cracked. Semiconductors slipped. And while most sectors wore green, the red in communication services and select software names wasn’t subtle—it was a warning shot.

But here’s where it gets interesting: while retail cheers the bounce in healthcare and industrials, insiders are telling a different story. Tech executives are bailing. Real estate, energy, and biotech insiders? They’re loading up.

Today’s heatmap says "broad rally." But insider behavior says "selective conviction." That divergence is where opportunity hides—and risk multiplies. This isn't a buy-everything market. It's a hunt for signal amid the noise.

Let’s get into who’s cashing out, who’s doubling down, and what it all means for the week ahead.

Biggest Insider Sales

🛡️ Palo Alto Networks $PANW ( ▲ 4.61% ) – CTO Sells Nine Figures

• Who’s Selling? Nir Zuk (EVP, CTO)

• What He Sold: 649,828 shares at $165.41

• Total Value: $107.5M

• Why It Matters: This wasn't a token trim. With a 15% drop in ownership, it’s a serious offload by a top exec in one of tech’s cybersecurity darlings.

🏦 JPMorgan Chase $JPM ( ▲ 1.42% ) – Dimon Offloads $31M

• Who’s Selling? Jamie Dimon (Chairman & CEO)

• What He Sold: 133,639 shares at $235.68

• Total Value: $31.5M

• Why It Matters: Dimon’s selling isn’t unheard of, but a $30M move right as JPM stock hits new highs is hard to ignore. It raises a familiar question: trimming or timing?

🦴 Xtant Medical Holdings $XTNT ( ▲ 6.5% ) – Orbimed’s Full Exit

• Who’s Selling? Orbimed Advisors LLC (10% Owner)

• What They Sold: 73.1M shares at $0.42

• Total Value: $30.7M

• Why It Matters: This was a 100% liquidation. No shares left. When a major investor ditches a microcap biotech entirely, something’s up.

🥣 Kellanova $K ( ▼ 0.1% ) – Foundation Quietly Sells $9.4M

• Who’s Selling? Kellogg W.K. Foundation Trust (10% Owner)

• What They Sold: 114,583 shares at $82.41

• Total Value: $9.4M

• Why It Matters: It’s a drop in the cereal bowl compared to their holdings, but it continues a pattern of steady trimming from the Trust.

🔌 Credo Technology $CRDO ( ▲ 5.76% ) – CTO Sells $2.1M

• Who’s Selling? Chi-Fung Cheng (CTO)

• What He Sold: 55,000 shares at $38.78

• Total Value: $2.13M

• Why It Matters: Small relative to total ownership, but any exec selling in high-beta semis tends to catch trader eyes—especially with chips rallying.

While sellers are trimming across sectors, the scale of Zuk and Dimon’s moves hint at a subtle shift: executives aren’t just rebalancing—they’re cashing in.

Let’s now look at who’s doing the opposite… and buying with conviction.

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