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Forum » Peloton insiders sold nearly $500 million in stock before its big drop
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Thread: Peloton insiders sold nearly $500 million in stock before its big drop

post 1654728113 01-21-2022, 10:32 AM
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Peloton insiders sold nearly $500 million in stock before its big drop

https://www.cnbc.com/2022/01/19/pelo...big-drop-.html

Peloton executives and insiders sold nearly $500 million worth of their stock before its big decline, according to SEC filings.

Much of the selling started when shares surged past $80 in the fall of 2020. The sales gained momentum in 2021 as the stock held above $100.

John Foley, the CEO and co-founder, sold $119 million worth of stock starting in November 2020, according to SmartInsider. Others included the president William Lynch and Hisao Kushi, co-founder and chief legal and culture officer.





Peloton executives and insiders sold nearly $500 million worth of their stock before its big decline, according to filings with the Securities and Exchange Commission.

Peloton stock is down more than 80% from its highs last year, and it hit a 52-week low of $29.11 on Tuesday. Yet the company’s CEO and other executives sold millions of shares at prices over $100 a share in the months leading up to the big declines.

Company executives and insiders sold $496 million worth of their shares in 2021, according to SmartInsider, citing SEC filings. Virtually all of the sales were part of 10b5-1 plans, or prescheduled selling programs. It’s unclear how many of the sales were also linked to options exercises or options-related tax sales.

The big selling started when the stock started surging past $80 a share in the fall of 2020, and gained momentum in 2021 as the stock held above $100, the filings show.

John Foley, the company’s CEO and co-founder, sold $119 million worth of stock starting in November 2020, according to SmartInsider. Most of his sales were for $110 a share or higher.

Many top executives also cashed out a portion of their holdings with well-timed sales. William Lynch, the company president, sold more than $105 million in shares last year, with $72 million sold in February at an average price of $144.95.

Hisao Kushi, co-founder and chief legal and culture officer, sold more than $90 million of his shares — most at prices above $110 a share. Other big sellers included the company’s chief product officer, Tom Cortese, who sold more than $60 million of his stock, and Mariana Garavaglia, chief operating officer, who tallied more than $25 million in sales.
post 1654728373 01-21-2022, 10:36 AM
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I would have done the same move. Nothing illegal about that. It is a little sketchy though, seems like when these top dogs sell like that, the general public should be informed, its a massive red flag.
post 1654728473 01-21-2022, 10:38 AM
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Originally Posted By Berts⏩
I would have done the same move. Nothing illegal about that. It is a little sketchy though, seems like when these top dogs sell like that, the general public should be informed, its a massive red flag.
It's all out there for people who have the acumen to dig through SEC filings etc
post 1654729173 01-21-2022, 10:44 AM
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So wish I could quote my comment in the old Peloton evaluation thread lol.

Called bullchit on being the ridiculous amount being claimed and said it was gonna tank hard.

Most obvious easy fraud to detect in a while, and im not even a markets guy lol
post 1654729473 01-21-2022, 10:47 AM
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Company president sold at its absolute peak lulz
post 1654729533 01-21-2022, 10:48 AM
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Originally Posted By Berts⏩
I would have done the same move. Nothing illegal about that. It is a little sketchy though, seems like when these top dogs sell like that, the general public should be informed, its a massive red flag.
Explain how insider trading is legal
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post 1654729623 01-21-2022, 10:50 AM
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Originally Posted By TuskV⏩
Explain how insider trading is legal
“ Virtually all of the sales were part of 10b5-1 plans, or prescheduled selling programs.”
post 1654729763 01-21-2022, 10:51 AM
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Glad I didn't join, but seriously hope my companies current stock goes to 100 a share. And if it does I'm selling all the way to Sunday.
post 1654729823 01-21-2022, 10:51 AM
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It makes sense they arent that innovative…they just sell overpriced treadmills

No way would it be sustainable after lockdowns were cancelled
post 1654730003 01-21-2022, 10:53 AM
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yup not politically connected so theyre going to jail

you have to tip a senator off to get the ftc off your back
Boycott foodservice industry crew
post 1654730083 01-21-2022, 10:54 AM
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God damn all that money to those guys for a fukin treadmill company
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post 1654730093 01-21-2022, 10:54 AM
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Originally Posted By TuskV⏩
Explain how insider tradingis legal
Thats a pretty loose term.
post 1654730313 01-21-2022, 10:58 AM
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Did Nancy Pelosi's husband also sell at the peak? Srsly that wench's husband is oh so coincidentally better at picking stocks at opportune time than the most famous traders ever. Almost like he gets information we the public don't. My favorite is how the last federal min wage hike had one exemption, in American Samoa. Not for them. Half the island is employed by Starfish Tuna and Pelosi's husband owned tons of stock in the company. Gotta love when lightning strikes the same spot a hundred times.
Yeah Buddyyy! Light weight! Light weight baby!!!!
post 1654730343 01-21-2022, 10:58 AM
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Originally Posted By Berts⏩
Thats a pretty loose term.
absolutely and I doubt they involved the right people

they will be paraded around and made example of
Originally Posted By frankdtank20⏩
Did Nancy Pelosi's husband also sell at the peak? Srsly that wench's husband is oh so coincidentally better at picking stocks at opportune time than the most famous traders ever. Almost like he gets information we the public don't. My favorite is how the last federal min wage hike had one exemption, in American Samoa. Not for them. Half the island is employed by Starfish Tuna and Pelosi's husband owned tons of stock in the company. Gotta love when lightning strikes the same spot a hundred times.
if that's the case then they're square srs.
Boycott foodservice industry crew
post 1654730393 01-21-2022, 10:59 AM
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Originally Posted By ChunkBuster⏩
“ Virtually all of the sales were part of 10b5-1 plans, or prescheduled selling programs.”
They think they're sly, but that's not going to cut it.
Originally Posted By Berts⏩
Thats a pretty loose term.
They will be investigated. I can't see them winning this one.
Trump 2024

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post 1654730443 01-21-2022, 11:00 AM
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Since most of the sales were pre planed I don't see how it can be "insider trading" unless there is some proof they intentionally tanked the stock price so they could buy it back.
post 1654730623 01-21-2022, 11:03 AM
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  1. BraneyGumble
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Originally Posted By yabbayabba⏩
Since most of the sales were pre planed I don't see how it can be "insider trading" unless there is some proof they intentionally tanked the stock price so they could buy it back.
Hmm


John Foley, the company’s CEO and co-founder, sold $119 million worth of stock starting in November 2020, according to SmartInsider. Most of his sales were for $110 a share or higher. The sales were part of a prearranged 10b5-1 plan to “sell a limited amount of the company’s shares for personal financial management purposes,” according to a SEC filing.

Although the plan called for selling up to 2.4 million shares through October 2022, Foley notified the board that he had terminated the selling plan on Aug. 30, 2021, after selling a total of 1 million shares. No reason was given for the termination, but on Nov. 4, 2021, the company slashed its sales forecast and the shares tumbled.
post 1654731033 01-21-2022, 11:09 AM
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Originally Posted By BraneyGumble⏩
Hmm


John Foley, the company’s CEO and co-founder, sold $119 million worth of stock starting in November 2020, according to SmartInsider. Most of his sales were for $110 a share or higher. The sales were part of a prearranged 10b5-1 plan to “sell a limited amount of the company’s shares for personal financial management purposes,” according to a SEC filing.

Although the plan called for selling up to 2.4 million shares through October 2022, Foley notified the board that he had terminated the selling plan on Aug. 30, 2021, after selling a total of 1 million shares. No reason was given for the termination, but on Nov. 4, 2021, the company slashed its sales forecast and the shares tumbled.
Well then...I hope they like their stay in "pound me in the ass" federal prison.
post 1654731293 01-21-2022, 11:13 AM
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  1. Destor
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Originally Posted By BraneyGumble⏩
Hmm


John Foley, the company’s CEO and co-founder, sold $119 million worth of stock starting in November 2020, according to SmartInsider. Most of his sales were for $110 a share or higher. The sales were part of a prearranged 10b5-1 plan to “sell a limited amount of the company’s shares for personal financial management purposes,” according to a SEC filing.

Although the plan called for selling up to 2.4 million shares through October 2022, Foley notified the board that he had terminated the selling plan on Aug. 30, 2021, after selling a total of 1 million shares. No reason was given for the termination, but on Nov. 4, 2021, the company slashed its sales forecast and the shares tumbled.
Sounds like a sign that something bad was coming

Sophisticated investors watch this stuff, SEC filings and such are critical business documents
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