Major former shareholders of Yeti Holdings have continued to unload many of their shares, but they apparently did it at a slight loss in a secondary offering, underwritten by Goldman Sachs, that was scheduled to expire on or around June 1. On May 28, they offered 6,067,125 shares at a price of $32.65, below the closing stock exchange price of $33.75 of the previous day. The price has since risen to $34.59, giving the American brand of coolers and drinkware a stock market capitalization of $3.01 billion as of June 4. In the last 12 months, insiders have sold a total of 37,584,765 shares through various secondary placements, representing about 43 percent of all the outstanding shares. The biggest sellers have been P.E. Cortec and trusts controlled by the company’s founders, Roy and Ryan Seiders. After the latest transaction, they have been left with stakes of 1.2 percent, 4.6 percent and 2.2 percent, respectively.

Topics