UPDATE: 2 Company Insiders Just Sold Hundreds of Millions in Shares in a Secondary Offering

UPDATE: This post has been corrected to reflect Ancestry.com’s secondary offering.  Please refer to the information below for details.

Ancestry.com (NASDAQ:ACOM) recently completed a secondary offering, in which its majority shareholder, Spectrum Equity Partners, sold 5,329,744 shares at a net price of $40.215 per share, for total proceeds of $214,335,655.  The net price is the price per share, exclusive of any underwriting fees.  These shares were sold by Spectrum Equity, and two directors of Ancestry.com, Victor Parker, and Ben Spero, have voting authority over these funds.  Mr. Parker and Mr. Spero are Directors of Ancestry.com.  Ancestry.com’s stock has traded in a 52-week range of $15.23 to $45.79 and most recently traded at $39.64.  It earned $0.85 per share last year.  Its current ratio is 0.87, suggesting that the company could face a liquidity crunch in the near future.  About the company: Ancestry.com, Inc. is an online family history research company.  The Company’s website offers online sources for family and local histories, vital records, military records and census records, as well as civil, ecclesiastical, and immigration records.

Other companies whose insiders notched large sales recently include:

  1. Microsoft (NASDAQ:MSFT): Bill Gates, who is Chairman, sold $123,802,000 worth of shares on May 16th.  About the company: Microsoft Corporation develops, manufactures, licenses, sells, and supports software products.  The Company offers operating system software, server application software, business and consumer applications software, software development tools, and Internet and intranet software.  Microsoft also develops video game consoles and digital music entertainment devices.
  2. Epicor Software (NASDAQ:EPIC):  L. George Klaus, who is Chairman, President & CEO,  sold $42,072,000 worth of shares on May 16th.  Epicor Software Corporation designs, develops, markets, and supports enterprise software solutions.  The Company’s products integrate back office applications for manufacturing, distribution, and accounting with front office applications for sales, marketing, and customer support.
  3. CF Industries Holdings (NYSE:CF): Stephen Wilson, who is Chairman, President & CEO, sold $9,556,000 worth of shares on May 16th.  CF Industries Holdings, Inc. manufactures and distributes nitrogen and phosphate fertilizer products in North America.  The Company’s principal products in the nitrogen segment are ammonia, urea and urea ammonium nitrate solution and its principal products in the phosphate segment are diammonium phosphate, monoammonium phosphate, and granular muriate of potash.
  4. Arch Capital Group (NASDAQ:ACGL): John Pasquesi, who is a Director, sold $7,014,000 worth of shares on May 16th.  About the company: Arch Capital Group Ltd. is a Bermuda-based insurance and financial services company that provides reinsurance and insurance products on a worldwide basis.
  5. Mednax (NYSE:MD): Thomas Hawkins, who is Senior Vice President, General Counsel and Secretary, sold $5,987,000 worth of shares on May 17th.  About the company: MEDNAX, through a subsidiary, provides physician management services to hospital-based neonatal, maternal-fetal, pediatric cardiology, and pediatric intensive care specialties.  The Company also manages anesthesia practices.

For more information about any of these transactions please refer to the SEC filings.

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