Due to a continued disruption in the dissemination of Form 144 filings from the SEC, we will 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, however the
number of filings received and disseminated digitally has been lower than typically expected.
As shown on the chart below, the volume of Form 144 filings in October fell 24% from the prior month. Additionally,
the number of filings in October was 38% lower than the count filed in October 2019. The value of 144 filings dropped
by about 8% from the prior month, a slightly smaller decline than the average September-October decrease of 12%.
While the overall value of 144 filings fell, the value of 10b5-1 filings rose by 138% from September and reached the
highest overall value since February (see graph below).
Based on these metrics, The Washington Service is estimating that the filings released so far constitute only about 60%
of the expected filings for the month of October. 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)|
|Goldman Sachs||Alibaba Group [BABA]||JSP Investment Ltd||$1,450||5.0|
|Morgan Stanley||Alibaba Group [BABA]||PMH Holding Ltd||$865||3.0|
|Goldman Sachs||Alibaba Group [BABA]||Yun Capital Ltd||$735||2.5|