Director D. Scott Mackesy Files Intent to Sell $10.4M in Shares
CWAN sits 54% above its 52-week low of $15.735.
Summary
Director D. Scott Mackesy has filed a Form 144 indicating an intent to sell 427,776 shares of Class A Common Stock, valued at approximately $10.4 million, while the stock trades near its 52-week high.
Key Events · Ownership and Investor Activity · CWAN
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Director Files Intent to Sell Shares
Director D. Scott Mackesy has filed a Form 144 to sell 427,776 shares of Class A Common Stock.
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Significant Transaction Value
The proposed sale has an approximate market value of $10,416,345.00.
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Timing Near 52-Week High
This intent to sell comes as the company's stock is trading near its 52-week high, following the recent approval of a merger agreement on May 7, 2026.
Analysis · CWAN · Technology
A director filing to sell over $10 million in shares is a notable event, especially when the stock is trading near its 52-week high and shortly after shareholders approved a significant merger agreement. This indicates a substantial profit-taking move by an insider, which could be interpreted as a lack of conviction in further upside or a desire for liquidity following recent positive corporate developments.
At the time of this filing, CWAN was trading at $24.30 on NYSE in the Technology sector, with a market capitalization of approximately $7.2B. The 52-week trading range was $15.74 to $24.43. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.