Frederic Luddy, Chief Product Officer at ServiceNow Inc. (NYSE:NOW) completed a three day stock disposition of 151,400 shares of Common Stock. The insider commenced his stock sale on Monday, unloading 51,400 in smaller batches, with prices ranging from $57.20 to $58.95 per share. On Tuesday, Luddy sold 33,001 shares of Common Stock for $58.84 per share, before disposing of another $16,999 shares for $59.82 per share that same day. Yesterday, the insider unloaded another 47,800 shares for a weighted average sales price of $58.27 per share, as well as 2,200 shares for a price of $59.00 per share. Furthermore, yesterday’s dispositions were executed indirectly, through Frederic B. Luddy CRT, LLC and following the sale, Luddy now owns a total of 300,000 ServiceNow shares.
On another note, in spite of the CPO’s large stock disposition, this quarter showed positive movement amongst shareholding hedge funds, with increases in portfolio activity and new positions. However, after increasing the firm’s portfolio participation by 22%, Donald Chiboucis’ Columbus Circle Investors is the largest shareholder, with over 2.9 million shares, worth $176 million.
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