Solar CEO Buys Big — Three Times

Note from the Editor:
I’ll be out of town Monday through Wednesday next week. I’ll do my best to get the newsletter out as usual, but there’s a chance it may skip a day or two. Thanks for your patience. And as always, the most important trades won’t go unnoticed.

This Week's Top Insider Moves That Matter

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This week, the market sent a message: growth is back, but only if you’ve got conviction.

Software, semis, and select mega caps drove the rally, while defensives, staples, and real estate sat the dance out. It wasn’t a broad bull run, it was a spotlight on resilience. And under that spotlight, insiders stepped up.

One CEO in solar? He didn’t just buy. He bought again. And again. Three times in five days. Meanwhile, consumer tech leaders trimmed, legal chiefs tiptoed in, and private equity quietly made their exits.

It’s not about who’s active, it’s about who’s early. And this week, the early ones were buying where everyone else had given up.

Let’s break it down.

Biggest Insider Sales

🔧 DigitalOcean Holdings $DOCN ( ▼ 0.36% ) – Private Equity Offloads $100M

• Who’s Selling? Access Industries Holdings LLC (Affiliate of 10% Owner)

• What They Sold: 3.5M shares at $28.60

• Total Value: $100M

• Why It Matters: A 92% reduction in ownership is anything but passive. With cloud valuations up, this looks like a classic "sell strength" move from a savvy long-term holder.

🎮 Roblox Corp $RBLX ( ▲ 1.51% ) – CEO Trims $83.6M

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

• What He Sold: 950K shares at $87.97

• Total Value: $83.6M

• Why It Matters: The face of Roblox just trimmed over 60% of his stake. That's a big signal from a founder who’s usually been diamond-handed.

🌐 Galaxy Digital $GLXY ( ▲ 2.98% ) – 100% Exit, $61M

• Who’s Selling? Galaxy Group Investments LLC (10% Owner)

• What They Sold: 3.37M shares at $18.10

• Total Value: $61M

• Why It Matters: This wasn’t trimming; this was a full-blown exit. Crypto-adjacent assets have been running, but this insider hit the sell button on it all.

🪙 Galaxy Digital $GLXY ( ▲ 2.98% ) – CEO Cuts 79%, $61M

• Who’s Selling? Michael Novogratz (CEO, 10% Owner)

• What He Sold: 3.37M shares at $18.10

• Total Value: $61M

• Why It Matters: Two insiders selling the same block? Either a coordinated unwind or a strategic realignment ahead of potential turbulence in digital assets.

📦 Klaviyo Inc. $KVYO ( ▼ 1.66% ) – PE Firm Bails with $133M

• Who’s Selling? Summit Partners L.P. (10% Owner)

• What They Sold: 4M shares at $33.35

• Total Value: $133M

• Why It Matters: A clean 50% drawdown. With Klaviyo trading well post-IPO, this looks like private equity ringing the bell.

Two insiders going all-in on the exits, and multiple CEOs trimming deep. But what about the ones stepping up to buy? Let’s flip to this week’s biggest insider purchases.

Biggest Insider Purchases

🔋 Complete Solaria $SWPR.X ( 0.0% ) – CEO Loads Up Again

• Who’s Buying? Thurman Rodgers (CEO, 10% Owner)

• What He Bought: 606K shares at $1.68

• Total Investment: $1.02M

• Why It Matters: This marks his third major buy in five days, bringing total recent purchases to over $1.46M. Rodgers exited Enphase at the peak and is now making a clear statement here.

🔥 Traeger Inc. $COOK ( ▼ 0.53% ) – Another Grill Buy from the Top

• Who’s Buying? Jeremy Andrus (CEO)

• What He Bought: 727K shares at $1.38

• Total Investment: $1.01M

• Why It Matters: Andrus has been relentlessly buying since March, five separate purchases totaling over $3M. It’s rare to see this level of persistence. He’s clearly betting the smoke clears soon.

🧬 Organogenesis Holdings $ORGO ( ▲ 4.47% ) – Legal Officer Steps In

• Who’s Buying? Lori Freedman (Chief Admin. & Legal Officer)

• What She Bought: 252K shares at $2.88

• Total Investment: $725K

• Why It Matters: First insider buy we've seen from her. It’s a sizable stake, though it contrasts with recent sales by the CEO and others. Still, this move suggests at least some internal optimism.

💳 Wex Inc. $WEX ( ▼ 2.2% ) – Steady Hand at the Helm

• Who’s Buying? Melissa Smith (Chair & CEO)

• What She Bought: 3,721 shares at $134.57

• Total Investment: $501K

• Why It Matters: Not flashy, but consistent. Smith’s buy follows through on a history of smaller, strategic purchases, worth watching if institutional buyers follow suit.

📦 Abacus Global $ABL ( ▲ 2.34% ) – Co-Founder Makes a Move

• Who’s Buying? Kevin Scott Kirby (President, Co-Founder, 10% Owner)

• What He Bought: 86K shares at $5.77

• Total Investment: $498K

• Why It Matters: First buy since founding. It’s not massive in percentage terms, but the timing is tight, worth flagging as a potential inflection point.

🔬Insider Under the Microscope: SunPower (formerly Complete Solaria)

This week, the most telling insider activity came not from biotech or finance, but from the solar sector.

Thurman Rodgers, CEO of SunPower (NASDAQ: $SPWR ( ▲ 4.52% ) bought 606,000 shares at $1.68 on June 3, totaling $1.02 million. On its own, that would rank among the top insider buys of the week. But this wasn’t a one-off, it was part of a streak.

Over five trading days, Rodgers purchased over $1.46 million worth of stock, with earlier buys at $1.38 and $1.49. The pace and size of these buys suggest more than just confidence, it looks like preparation. And there’s reason to believe he sees something the market hasn’t fully priced in.

SunPower (formerly Complete Solaria) recently acquired the legacy SunPower brand out of bankruptcy and relaunched under the name in April. The company instantly gained brand recognition and industry leverage, integrating SunPower’s established install base and technology into its core operations. Rodgers, a seasoned solar executive, has made clear moves like this before, most notably exiting Enphase near its highs.

Q4 revenue surged to $81.1 million post-acquisition, and the company now claims the #5 spot among residential solar installers in the U.S., with annualized revenues exceeding $300 million. Institutional investors are already sniffing around, and firms like Alyeska and Diametric Capital have recently built positions.

Rodgers’ behavior here is loud: this isn’t a liquidity play or PR stunt. It’s a sustained buying campaign from someone who’s historically timed both his exits and entries with precision.

Whether the broader market catches on this week or next is unclear, but Rodgers isn’t waiting. Neither should smart money.

👀 This was just one of five major trades we flagged this week.
Access+ members saw the rest — as they happened, not after the market moved.

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