Insider Sale at Eli Lilly and Co (LLY): Lilly Endowment Inc. Sells 245,000 Shares

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Lilly Endowment Inc, a large shareholder at Eli Lilly and Co. (NYSE:LLY) sold off 245,000 shares of Common Stock yesterday. The transaction was executed in two steps, selling 244,600 shares at a price of $62.68 per share, while the remaining 400 shares were sold at $63.10 per share. This disposition is the latest of a series completed by the shareholder, who unloaded 315,600 shares on Friday, paying $61.42 per share for 144,400 and $61.96 per share for the remainder. Lilly still holds over 133.8 million shares of the $70.5 billion market cap enterprise.

Moreover, several hedge funds remain strong in their shareholder position this quarter, with Jim Simons’ Renaissance Technologies as the top shareholder. The hedge fund owns approximately 5.2 million shares, worth $309 million. Adage Capital Management, the hedge fund run by Phill Gross and Robert Atchinson, also increased Eli Lilly’s participation in its portfolio by 130%, and now owns 2.12 million shares, with a value of $125 million.

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