Friday, October 20, 2017 10:15 PM ET
Significant Insider Selling Continues at Web.Com Group (WEB)
There was a substantial insider sale of Web.Com Group shares today, as disclosed in a filing with the SEC as — Okumus Fund Management Ltd, 10% Owner — sold 346,774 shares in the company having a market value of approximately $8,826,155 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 6,144,699 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 6,491,473 shares and have averaged 2,163,824 shares per transaction over this time period.
Compared to its peers over the last 90 days, insider buy/sell trading at Web.Com Group is above the 156-company peer group average. IT Services & Consulting peer group saw 263 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 1,837,383 shares purchased and 18,627,482 shares sold with company insiders selling 63,841 shares on average.
For the purpose of evaluating significant insider buying and selling all trades reported to the SEC that involve awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers have been eliminated in data sourced to compose and write this story.
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