CleanSpark Independent Director Roger Beynon Sells 32% Of Holding

Some CleanSpark, Inc. (NASDAQ:CLSK) shareholders may be a little concerned to see that the Independent Director, Roger Beynon, recently sold a substantial US$525k worth of stock at a price of US$10.51 per share. That sale reduced their total holding by 32% which is hardly insignificant, but far from the worst we've seen.

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CleanSpark Insider Transactions Over The Last Year

In fact, the recent sale by Roger Beynon was the biggest sale of CleanSpark shares made by an insider individual in the last twelve months, according to our records. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. It's of some comfort that this sale was conducted at a price well above the current share price, which is US$9.36. So it may not shed much light on insider confidence at current levels.

In the last year CleanSpark insiders didn't buy any company stock. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

View our latest analysis for CleanSpark

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Insider Ownership Of CleanSpark

For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that CleanSpark insiders own 2.3% of the company, worth about US$62m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

What Might The Insider Transactions At CleanSpark Tell Us?

Insiders sold CleanSpark shares recently, but they didn't buy any. And even if we look at the last year, we didn't see any purchases. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We'd practice some caution before buying! So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. For example - CleanSpark has 4 warning signs we think you should be aware of.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.