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Special Report
AI Insider Selling: Sales Hit Photronics, Credo & CoreWeave as Shares SpikeAuthor: Leo Miller. Date Posted: 4/27/2026. 
Key Points
- AI stocks Photronics, Credo, and CoreWeave have put up big-time gains in 2026.
- However, as these stocks spike, insiders are making significant sales.
- Top CoreWeave insiders continue to dump the stock, an overhang on shares.
- Special Report: Elon Musk’s $1 Quadrillion AI IPO
Insiders in three soaring artificial intelligence (AI) stocks have sold millions of dollars' worth of shares. Determining which of these sales are meaningful negative signals and which are not requires careful context. Here’s what recent insider trades are signaling. Photronics’ Insider Sales Soar Alongside SharesFirst up is a name that garnered significant attention near the end of 2025, Photronics (NASDAQ: PLAB). Photronics sells photomasks, key components in the semiconductor manufacturing process. The stock jumped more than 45% in a single day in December following an impressive earnings report and an announcement of significant capital expenditures, signaling strong demand. Photronics has continued to rally in 2026, rising more than 50% year to date.
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As shares climbed, Photronics also saw substantial insider selling in Q2. MarketBeat has tracked about $14 million in sales during the quarter, a sharp increase from roughly $3.44 million in Q1. Notably, none of these sales were executed under predetermined 10b5-1 plans, indicating they were discretionary. Several insiders sold sizeable portions of their holdings—for example, Hsueh-Chun Wang and Rui Zhang each reduced their stakes by 20% or more. Given the recent appreciation in Photronics shares, this level of selling is a moderately bearish sign. Still, most insiders retain large stakes, which suggests continued confidence in the company’s outlook. Credo Insiders Sell as Shares Reach New HighsNext is Credo Technology Group (NASDAQ: CRDO), an AI-related name that has been volatile. The stock rose to nearly $190 in early December 2025, fell below $100 by early March 2026, and then recovered above $190 within two months. In late April, Credo moved to all-time highs near $195, buoyed in part by its agreement to acquire DustPhotonics, which expands its optical networking offerings. As shares hit new highs, insiders sold roughly $21 million of stock in Q2. That level of selling so early in Q2 is roughly in line with the pace seen in Q1; over the full three months, Q1 sales totaled about $53 million. Importantly, most Q2 sales were executed under 10b5-1 plans or were small relative to individual insider holdings, reducing the negative signal. For example, Chi Fung Cheng made multiple sales but reduced total holdings by less than 2% and still holds more than 6 million Credo shares. Given these mitigating factors, Credo’s Q2 insider sales are not a strong negative indicator. CoreWeave’s Insider Sales Rise by More Than 3X in Q2Finally, there’s neo-cloud provider CoreWeave (NASDAQ: CRWV), a high-profile AI infrastructure play that has been highly volatile since its March 2025 IPO. The stock climbed above $180 in June 2025, fell to about $70 by year-end, and has rebounded in 2026 to around $107, roughly a 50% gain this year. Over its public history, CoreWeave has seen a very large amount of insider selling, totaling about $6.55 billion. After a drop in selling during Q1, insiders stepped up again in Q2. MarketBeat tracked more than $1.3 billion in sales in April alone—more than three times the $396 million recorded in all of Q1. Many of CoreWeave’s sales were carried out under 10b5-1 plans or had other mitigating explanations. However, one notable exception is hedge fund Magnetar Financial, which sold hundreds of millions of dollars' worth of CoreWeave stock in Q2. Despite these sizeable sales, Magnetar still indirectly holds billions of dollars' worth of CoreWeave. Overall, insiders are selling more as the stock rises, which is a negative signal. CoreWeave: Insiders Sell, Analysts DisagreeOf the three names, CoreWeave’s insider activity is the most notable. The sheer magnitude of trading creates a meaningful technical overhang on the stock. Magnetar’s pattern of selling, combined with its large remaining exposure, suggests the overhang is unlikely to disappear quickly. Still, Wall Street remains generally bullish. The MarketBeat consensus price target of about $125 implies more than 15% upside. Individual analyst targets are widely dispersed—April updates ranged from around $67 to as high as $175—implying potential downside of more than 35% or upside exceeding 60%, and underscoring the high uncertainty around CoreWeave. |
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