Skip to main content

January 2023 144 Market Report

Aggregate 144 Market Volume:

In January 2023, the aggregate reported value of Form 144s fell 70% from December. This significant month-over-month slide in value is reflected in a 51% decline in the total number of shares registered to sell, as well as a 21% decrease in forms filed.
While almost every volume metric decreased from the prior month, the number of filings pursuant to 10b5-1 did increase by
26%, implying a potential shift towards planned selling last month. Due to earnings-related blackout periods, the month-over-month decline of overall Form 144 activity was somewhat expected. However, when last month's numbers are compared to January 2022, brokers filed 132% more filings this year. Unsurprisingly, the total reported value of Form 144s also increased by 104%, along with an increase of 103% of overall number of registered shares year-over-year.

[View the Full Market Report]


Top 5 Brokers for January 2023:

In January, Morgan Stanley claimed the top title by brokering nearly a third of the market’s reported value, due in part to their role in Her Majesty's Treasury's $360 million filing at NWG. JP Morgan took second place in overall value. Fidelity slid into third place for their total value brokered, due in part to their filing-volume first place finish. Bank of America took fourth place, and Goldman Sachs rounded out the Top 5 rankings for January.

Top 144 Filings for January 2023:

Filer Company Broker Value (M) Shares (M)
 Commissioners of Her Majesty's Treasury NatWest Group plc - [NWG] Morgan Stanley $359.8 48.36
 AGK Giving Trust CrowdStrike Holdings - [CRWD] JP Morgan Chase $271.7 2.59
 Patrick W. Smith Axon Enterprise - [AXON] Morgan Stanley $254.6 1.35




About the author


The Washington Service Research Team

Cookie Notice

This website uses cookies to improve your browsing experience and the functionality of the site. To find out more, please read our cookie policy and our terms of service. (Learn More)

Back to top