Shares of GreenSky (NASDAQ: GSKY) have skyrocketed today, up by 13% as of 12:30 p.m. EST, after CEO David Zalik and Director Robert Sheft each bought shares. The insider transactions were open market purchases, often considered the most bullish type of insider activity.
In regulatory filings from yesterday evening, the fintech company disclosed that Zalik and Sheft scooped up a little over 1.1 million shares, each at an average price of approximately $3.47. That translates into a $3.8 million investment from each insider, adding to the considerable stakes that they already hold. Zalik holds 64.4 million Class B shares through a limited liability company (LLC), while Sheft has 22.3 million Class B shares through a different LLC as well as roughly 364,000 Class A shares held directly. The company currently has76.4 million Class A shares and 106.2 million Class B shares outstanding.
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Why GreenSky Stock Skyrocketed Today