Over the last three months, Strategy CEO Phong Le has gone on an MSTR selling spree over the past three months, according to filings with the United States Securities and Exchange Commission (SEC).
Micro Strategy President and CEO Phong Le has sold the majority of his $MSTR stock the last 3 months.
I wonder if that means anything https://t.co/Isw431yJrh pic.twitter.com/DPZf7GoIGR
The filing shows that Phong Le disposed of 8,400 shares of Class A common stock on June 18. After this transaction, Le Phong still directly owns 16,390 shares of Class A common stock.
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On top of that, Le Phong owns 6,000 and 4,500 shares of two different series of preferred stock ("Strife" and "Stride").
Over the past month, Strategy has logged $13.6 million worth of insider selling with no buying.
Notably, this intense insider selling is not limited to just one or two individuals. Strategy's insider sales include transactions by VP & CAO Montgomery Jeanine, EVP & General Counsel Shao Wei-Ming, EVP & CFO Kang Andrew, Directors Carl Rickertsen and Patten Jarrod.
A lot of these individual transactions are for substantial amounts. For instance, Rickertsen sold 26,390 shares for over $9.8 million. Finally, Patten sold 9,550 shares for over $3.5 million.
The insider selling spree does not necessarily signal a lack of confidence given. However, some of the hodlers of the MSTR stock tend to argue that this is rather a routine practice that does not necessarily have to be treated as a bad omen for the company. The sums are not significant enough to cause severe selling pressure.
The MSTR stock is up by 27% on a year-to-date basis, outperforming the broader market.
The company's Bitcoin holdings are now approaching 600,000 coins.
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