Director Brenda Reichelderfer sold $795K in shares, reducing her directly held stake by 11.7% at a price 28.5% above the 90-day low. This trade is a routine director sale with no other insiders buying, but its bearish impact is limited as it was not executed near the stock's recent high.

Where it could go — Our 1-4 conviction sells have a 54% rate of beating the SPY at 30 days; analyst mean target implies direction, with a bear case if the stock breaks below its recent low.

VP, General Counsel & Secretary Bonina Diane sold $2.5M worth of shares at $130.06, reducing her directly held stake by 55.1% from a position just 3.3% below the 90-day high. This first-ever sale by a long-tenured officer is a notable bearish signal, as insiders typically sell for diversification or liquidity, but a large, first-time sale near highs can precede a pullback. Bear: breaks the $111.29 30-day low support level.

Where it could go — Our 5-6 conviction officer sells: 50% beat SPY at 30d; bear breaks $111.29.