Insider Sells Nearly $76 Million In Stock At This Energy Drink Company: What's Going On With Celsius Holdings?

Celsius Holdings, Inc. CELH shareholder and co-chair William H. Milmoe sold over $76 million worth of the company’s stock. 

The divestiture was announced Monday afternoon ahead of the energy drink company’s earnings report Tuesday morning.

According to regulatory filings, Milmoe offloaded shares amounting to over $76 million at an average price of $59.66 per share.

This information was revealed in the latest Form 4 filing with the U.S. Securities and Exchange Commission. The transactions were carried out over three days, from May 2 to May 6. Milmoe sold exactly 214,287 shares of common stock each day.

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CD Financial LLC, where Milmoe serves as the manager, delivered the shares upon the exercise of call options sold to unaffiliated third-party purchasers last year.

Milmoe still indirectly retains a substantial stake in Celsius through his role in CD Financial LLC and as a trustee of the Carl DeSantis Revocable Trust.

It’s unclear why Milmoe sold the stock; the transaction has been reported in compliance with SEC regulations. Celsius Holdings has not made any official statements regarding the transactions.

Investors often view insider transactions as an indicator of the executives’ confidence in the company’s future prospects. The impact of this insider sale on investor sentiment towards Celsius Holdings remains to be seen.

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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.