Insiders Cash Out at SpaceMobile and Walmart

AST SpaceMobile founder and CEO Abel Avellan filed on June 23 to report he sold $146.7 million worth of stock on June 22. He unloaded 2.5 million shares at $58.68 each. That filing came just days after the stock had been trading well above $90 — a sign the CEO locked in gains at a lower price after the stock pulled back. He wasn't alone. CFO Andrew Johnson filed to report a separate $4.3 million sale, and President Scott Wisniewski sold $3.3 million in May.

Three C-level insiders selling within weeks of each other is a notable cluster for ASTS watchers.

Over at Walmart, the Walton Family Holdings Trust has been relentlessly trimming its stake. The trust filed on June 18 to report it sold $467 million in shares on June 16. That came on top of a further $184 million sold on June 2. Total Walton family filings over the past month exceed $900 million.

Director David Capobianco at WaterBridge Infrastructure filed on June 22 to report selling $177 million worth of shares. That is a large sale for a relatively small infrastructure name.

At Twilio, a board-level hedge fund representative filed to report selling $184 million in late May — roughly 1 million shares at $184.14 each.

Across these names, the pattern is clear: insiders near the top of the corporate ladder have been selling into strength.