AI flow digest· claude-sonnet-4-5-20250929· Synthesized from manager portfolios + last 30 days of insider & Congress activity.
SE insiders dumped $69.1M over the past month with zero offsetting buys—CEO David Ma alone unloaded shares across 91 transactions, including multiple $4–6M sales in mid-April. Meanwhile, institutional money is splitting sharply: legendary names like Druckenmiller, Point72's Steve Cohen, and Viking Global all added shares in Q4, while six major funds—including Coatue, Lone Pine, and Whale Rock—exited entirely. Tiger Global and Baillie Gifford, still among the top holders, trimmed positions. Norway's sovereign wealth fund initiated a new $576M stake, and T. Rowe Price added 3.5M shares. The divergence is stark: elite hedge funds are buying the dip while insiders race for the exits. **So what:** When management sells this aggressively amid mixed institutional signals, tread carefully—insiders know something the bulls don't.