Tuesday, October 10, 2017 10:15 PM ET
Significant Insider Selling in Shares of Web.Com Group (WEB) Continues
An insider — Okumus Fund Management Ltd, 10% Owner — sold 134,699 shares of Web.Com Group having a market value of approximately $3,446,352 today, as disclosed in a form 4 document filed with the SEC. There have been 2 insiders with buy/sell transactions in the past 90 days prior to this filing. All of these trades have been sales resulting in the sale of 6,010,000 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 6,144,699 shares and have averaged 2,048,233 shares per transaction over this time period.
The level of buy/sell trading at Web.Com Group is is above the 154 peer company average over the last 90-day period. The IT Services & Consulting peer group saw 269 buy/sell trades during this period for an average of 1.7 transactions per company. The number of shares per buy/sell trade for Web.Com Group insiders was also higher. Within the peer group there were 1,827,530 shares purchased and 18,499,304 shares sold with company insiders selling 61,977 shares on average.
The data obtained in evaluating and writing in this story eliminates all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers.
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