Money Mediary – March 25, 2025

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March 25, 2025

Today's Top Insider Moves That Matter

The market tilted risk-on Tuesday, as strength surged across consumer discretionary, communication services, and financials. Internet retail, auto manufacturers, and entertainment led the rally, with software and semiconductors showing mixed results. Meanwhile, healthcare, real estate, and utilities underperformed as investors rotated out of defensives and into growth. Industrials and materials posted modest gains, while consumer staples lagged.

Insider trading mirrored these macro shifts. Executives in high-growth tech and healthcare sectors were busy trimming exposure, capitalizing on recent price strength. In contrast, industrials and financial insiders stepped in decisively—building positions with conviction. Today’s filings revealed clear divergences between sectors, offering investors a sharper lens on where insiders see real opportunity.

Let’s dive into today’s most significant insider activity.

Biggest Insider Sales

🏭 Southwest Gas Holdings $SWX ( ▼ 0.93% ) – $156.7M Carl Icahn Exit

  • Who’s Selling? Carl Icahn (10% Owner)

  • What They Sold: 2,100,000 shares at $74.60

  • Total Value: $156.7M

  • Why It Matters: Icahn slashed over 20% of his position in a high-conviction move that suggests he's dialing back exposure. When the king of activism exits, it’s worth paying attention.

🖥️ CrowdStrike Holdings $CRWD ( ▲ 2.62% ) – $8.1M CEO Sale

  • Who’s Selling? George Kurtz (President and CEO)

  • What They Sold: 22,449 shares at $358.68

  • Total Value: $8.1M

  • Why It Matters: A sizable liquidation from a tech CEO as valuations push higher. Kurtz still holds millions in equity—but this sale might be signaling a cautious Q2 outlook.

🔐 Rubrik Inc. $RBRK ( ▲ 2.39% ) – $6.2M CFO Offload

  • Who’s Selling? Kiran Kumar Choudary (Chief Financial Officer)

  • What They Sold: 87,971 shares at $70.04

  • Total Value: $6.2M

  • Why It Matters: The CFO trimmed nearly 18% of his stake in a sizable move that follows a recent stretch of strong stock performance. With multiple Rubrik executives selling in tandem, the coordinated timing raises eyebrows.

📊 Intuit Inc. $INTU ( ▲ 1.51% ) – $5.0M People Ops Exec Sale

  • Who’s Selling? Laura Fennell (EVP, People and Places)

  • What They Sold: 8,163 shares at $612.46

  • Total Value: $5.0M

  • Why It Matters: Over a quarter of Fennell’s stake is gone, just as Intuit flirts with all-time highs. That kind of trimming usually isn’t random.

📡 Rubrik Inc. $RBRK ( ▲ 2.39% ) – $5.9M CRO Trade

  • Who’s Selling? Brian McCarthy (Chief Revenue Officer)

  • What They Sold: 85,001 shares at $70.04

  • Total Value: $5.9M

  • Why It Matters: The second large Rubrik sale of the day. With both the CFO and CRO cashing out, it’s a developing trend investors should track closely.

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