Why Sylebra Just Bet $23M on LiDAR

This Week's Top Insider Moves That Matter

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The market split this week. While chips, automakers, and industrials climbed on optimism around AI, infrastructure, and automation, healthcare took a nosedive, and Big Tech looked suddenly mortal. It wasn’t a broad rally, it was a rotation.

Insiders moved differently.

Where the crowd chased strength, insiders hunted value. They stepped into overlooked sectors—loading up on automation plays, LIDAR tech, and corporate credit. Not for a trade, but a thesis. One insider didn’t just buy shares, they took a board seat and started writing the playbook.

This wasn’t quiet accumulation. It was a coordinated vote of confidence while the rest of the market blinked.

Here’s what the smart money did while the headlines were focused elsewhere.

Biggest Insider Sales

🚗 CVS Health Corp $CVS ( ▼ 1.3% ) – $253.7M Director Dump Signals Something Deeper

• Who’s Selling? Larry Robbins (Director)

• What They Sold: 3.75M shares at $67.65

• Total Value: $253.7M

• Why It Matters: This isn’t trimming—Robbins unloaded nearly a third of his stake in one move. With healthcare stocks facing policy and pricing headwinds, the timing feels anything but casual.

🎮 Roblox Corp $RBLX ( ▲ 2.61% ) – CEO Sheds $137M as Stock Climbs

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

• What They Sold: 1.9M shares at $72.19

• Total Value: $137.2M

• Why It Matters: Baszucki dumped 57% of his stake in one move, more than just “routine rebalancing.” With Roblox trading near recent highs, this feels like tactical timing.

✈️ TransDigm Group $TDG ( ▼ 0.83% ) – $72.7M Exit by Veteran Director

• Who’s Selling? Nicholas Howley (Director)

• What They Sold: 49,241 shares at $1,475.85

• Total Value: $72.7M

• Why It Matters: A longtime insider unloading 70% of his holdings raises eyebrows. Especially when the stock sits near its 52-week high.

🧬 Prothena Corp $PRTA ( ▲ 4.65% ) – $50.8M Liquidation by a 10% Owner

• Who’s Selling? ECOR1 Capital LLC (10% Owner)

• What They Sold: 6.28M shares at $8.10

• Total Value: $50.8M

• Why It Matters: This aggressive stake reduction suggests conviction in taking risk off the table. Biotech volatility cuts both ways.

⚡ Tesla Inc. $TSLA ( ▲ 4.72% ) – $30.8M Trim by the Chair

• Who’s Selling? Robyn Denholm (Chair)

• What They Sold: 112,395 shares at $274.12

• Total Value: $30.8M

• Why It Matters: A 57% stake reduction from the chairwoman at Tesla rarely goes unnoticed. With EV competition heating up, this one’s worth watching.

From biotech to big tech, this week’s sellers were focused on locking in gains—especially near sector highs. But while the exits were loud, the entries are even louder. Let’s shift gears to the Biggest Insider Buys of the week—the moves that scream conviction.

Biggest Insider Purchases

🏠 Resideo Technologies $REZI ( ▼ 1.25% ) – $99.9M From a PE Giant

• Who’s Buying? Cd&R Channel Holdings II, L.P. (10% Owner)

• What They Bought: 5.75M shares at $17.38

• Total Investment: $99.99M

• Why It Matters: Cd&R launched a full-size position in one shot—no prior trades on record. This is a private equity power play, not a passive move. When they swing, they swing big.

🥇 NovaGold Resources $NG ( ▲ 0.53% ) – $50M Gold Bet

• Who’s Buying? Electrum Strategic Resources L.P. (10% Owner)

• What They Bought: 13.33M shares at $3.75

• Total Investment: $50M

• Why It Matters: The only trade on record—but it adds to an already massive stake nearing 100M shares. It’s a bold gold thesis in a market looking for safe havens.

🚘 Aeva Technologies $AEVA ( ▲ 9.13% ) – Hedge Fund Hits $100M+

• Who’s Buying? Sylebra Capital LLC (10% Owner)

• What They Bought: 3.56M shares at $6.54

• Total Investment: $23.3M

• Why It Matters: This is Sylebra’s 7th trade in AEVA. They’ve now committed over $100M. This isn’t doubling down—it’s tripling down.

💼 Cliffwater Enhanced Lending Fund (CELFX) – $21.3M Personal Vote of Confidence

• Who’s Buying? Stephen Lane Nesbitt (President, Trustee)

• What They Bought: 1.95M shares at $10.93

• Total Investment: $21.3M

• Why It Matters: Nesbitt nearly doubled his stake in the fund he runs. One of 8 total trades, it’s his most recent and most aggressive.

🏢 Cliffwater Corporate Lending Fund (CCLFX) – A Synchronized $21.3M Pair Trade

• Who’s Buying? Stephen Lane Nesbitt

• What They Bought: 2M shares at $10.65

• Total Investment: $21.3M

• Why It Matters: Same buyer, same week, same size—across both funds. That’s not coincidence, it’s conviction.

🔬Insider Under the Microscope: Broadcom

This week, Aeva Technologies $AEVA ( ▲ 9.13% ) lands under the microscope—after a streak of aggressive insider buying by its largest outside shareholder.

Sylebra Capital LLC, a tech-focused investment firm, bought over 3.5M shares of AEVA stock in late March, totaling $23.3M in open-market purchases. That brings their total stake to more than 16.2 million shares, or roughly 30% of the company. It’s not their first time buying, either. This marks Sylebra’s seventh insider purchase of AEVA and their largest single buy to date.

Why does it matter? Because this isn’t just passive positioning, it’s high-conviction accumulation. Sylebra’s founder, Daniel Gibson, was also just appointed to Aeva’s board. He’s a former Coatue partner known for taking activist roles in high-growth tech names. With Gibson now in the room, and Sylebra’s stake nearing control-level ownership, this is more than capital—it’s influence.

So what might Sylebra know that the rest of the market doesn’t?

Plenty. Aeva recently announced development programs with a top-10 global automaker and a $1B contract with Daimler Truck for self-driving freight vehicles. It also launched its highest-resolution sensor yet—Atlas Ultra, at CES 2025. Between partnerships with SICK AG (industrial sensors), Sensys Gatso (speed enforcement), and in-cabin ADAS pilots, Aeva is positioning across multiple verticals.

Despite these moves, AEVA trades at a market cap near cash value, and well below what its pipeline could justify. With commercial ramp-up approaching, and insiders piling in ahead of earnings, Sylebra seems to believe this underdog LiDAR stock could be entering its breakout phase.

One thing’s clear: when the largest shareholder doubles down and joins the board, it’s not noise. It’s signal.

👀 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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