Due to a continued disruption in the dissemination of Form 144 filings from the SEC, we were not be able to
release the normal 144 Market Data Report this month. Form 144’s are normally received by the SEC on paper
and disseminated via the Public Reference Room. Due to social distancing requirements, no filings have been
released from the Public Reference Room since April 3. In April, the SEC started accepting Form 144 filings
digitally via email, but the number of filings received and disseminated has been lower than in previous periods.
As shown on the chart below, the volume of Form 144 filings in November more than doubled from the prior month, rising 135%. In contrast, the number of filings in November was 27% lower than pre-COVID November 2019. The value of 144 filings this month rose by 124% from October, a larger increase than the average October-November rise of 110%. While value rose overall, the value of non-10b5-1 filings increased by a substantial 651%. Part of November’s surge was due to Chairman Bezos’ Form 144 indicating his intent to sell over $3 billion of AMZN, the month’s largest filing.
Based on these metrics, The Washington Service is estimating that the filings released so far constitute only about 70% of the expected filings for the month of November. Given the absence of a significant portion of the expected filings, we do not have enough information about the market to provide our normal Broker Ranking assessment.
|Broker||Company||Insider||Value ($M)||Shares (M)|
|Morgan Stanley||Amazon.com [AMZN]||Bezos Jeffrey P||$3,036||1.0|
|Bank of America||Farfetch [FTCH]||JD.com E-Commerce HK Crp||$1,640||32.0|
|Goldman Sachs||Walmart [WMT]||Walton Family Hldgs Trust||$1,514||10.0|