Insiders at these companies including Meta and Coinbase are dumping stock during rally

Published Tue, Mar 12 20249:53 AM EDT

Jesse Pound @/in/jesse-pound @jesserpound

Corporate executives at major companies have sold stock in their own companies in March as the stock market hits new record highs. The biggest name on the list is Meta Platforms CEO Mark Zuckerberg. The founder of the company formerly known as Facebook sold more than 232,000 shares for about $115 million, according to securities filings and VerityData. Meta shares are up nearly 40% this year. Zuckerberg's moves appear to be part of a 10b5-1 stock sale plan adopted last summer. That plan, which lays out the path for potential sales ahead of time, could calm fears that Zuckerberg's sales are a sign that he thinks the stock is overvalued. An even larger stock sale came from Michael Dell, the CEO and namesake of Dell Technologies . Dell sold about 2 million shares over the course of three days last week, for a total of roughly $246 million, according to a securities filing. The tech founder has filed a Form 144 to sell 7 million shares, so more transactions could be coming, according to VerityData. This is his first sale of Dell stock since the second quarter of 2021. Dell shares have soared more than 50% this year on optimism the AI boom will lead to a replenishment of servers and PCs. Another notable insider sale came from crypto company Coinbase . CFO Alesia Haas sold 64,000 shares at $228.45 for a total of about $15 million on March 5. Like Zuckerberg, Haas' sales were made under a 10b5-1 plan. The sales are particularly notable given the run up in tech stocks. Shares of Meta Platforms are up nearly 170% over the past year. Dell and Coinbase are up 216% and 376%, respectively. Here are some other notable insider sales in recent days, according to VerityData and securities filings. Medpace Holdings — CEO August Troendle sold 300,000 shares for a total of about $123 million Permian Resources — Co-CEOs William Hickey III and James Walter sold 4 million shares apiece for a total of roughly $63 million. The shares were tied to an underwriting agreement from March 4. TechnipFMC — CEO Douglas Pferdehirt sold more than 1.3 million shares, generating about $30 million. The sales were made as part of 10b5-1 plan. Iron Mountain — CEO William Meaney sold 253,000 shares for about $20 million total. The sales were part of a 10b5-1 stock trading plan.