In April 2023, the total reported value of Form 144s fell 76% from March. This month-over-month decrease in total value is accompanied by decreases in the number of registered shares, which fell 99%, as well as the number of filings, which fell
58%. The overall slow-down is not surprising, however, since April is typically a slow month due to restrictions involved in
earnings season and investors' growing concern about the overall economic climate. Alternatively, when last month's numbers are compared to April 2022, which was one of the slowest months last year, Form 144 value, shares, and number
of filings increased across the board. Specifically, the number of shares sold pursuant to Rule 10b5-1 increased by over
250%, in addition to the overall reported value rising by 124% and number of filings by 89%.
In April, Morgan Stanley rose back through the ranks to first place in value brokered by registering a fifth of the Form 144 market. JP Morgan secured second place in value, due in part to their role in filing large filings at LLY and CRWD (see next page). First Republic Bank made their first (and last) appearance in the top five by placing third in value. Fidelity finished fourth, boosted by their first place finish in number of filings brokered. Finally, Bank of America rounded out the Top 5 rankings for April.
|Filer||Company||Broker||Value (M)||Shares (M)|
|Safra A. Catz||Oracle Corp - [ORCL]||First Republic Bank||$469.6||5.00|
|Commissioners of Her Majesty's Treasury||NatWest Group plc - [NWG]||Morgan Stanley||$326.4||47.97|
|Lilly Endowment Inc||Eli Lilly & Co - [LLY]||Fidelity & JP Morgan||$300.7||0.84|