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July 2023 144 Market Report

Aggregate 144 Market Volume:

In July 2023, the total reported value of Form 144s declined 55% from June, as opposed to the June to July increase of 57% last year. This month-over-month decrease in total value was accompanied by an 18% decrease in shares sold, and a 34% reduction in number of filings. Compared to July 2022, the number of Form 144s filed increased by 97%, but the total value reported decreased by 64%. Last July's total value of Form 144s was driven largely by Softbank's divestiture of Alibaba Holdings, which accounted for more than half of the monthly total. The year-over-year decrease in value includes a 72% fall in discretionary selling value, as well as a 22% decline in planned selling value.

[View the Full Market Report]


Top 5 Brokers for July 2023:

In July, JP Morgan rose to the top of the broker rankings, largely due to their role in brokering two of last month's largest filings (see table, next page). Morgan Stanley again took second place for total value brokered. Bank of America secured third place, due in part to brokering a large filing for Marc Benioff (see next page). Fidelity placed fourth in value brokered, but came in first for number of filings, and E*TRADE rounded out July's top 5 brokers in fifth place.

Top 144 Filings for July 2023:

Filer Company Broker Value (M) Shares (M)
 Commissioners of His Majesty's Treasury NatWest Group plc - [NWG] Morgan Stanley $568.7 89.42
 Blake D. Moret PTC Inc - [PTC] Bank of America $300.0 2.10
 AGK Giving Trust CrowdStrike Holdings - [CRWD] JP Morgan Chase $293.7 2.00




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The Washington Service Research Team

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