Three Webull Insiders Sell $1.9M After 200% EPS Beat
Webull Corporation reported a $0.07954 EPS result against a $0.025 consensus estimate alongside 51.9% revenue growth and a 77.2% gross margin, but three top executives responded by selling $1.94 milli
Three Webull Insiders Sell $1.9M After 200% EPS Beat
NEW YORK, September 21 —
When Webull Corporation (BULL) posted its largest earnings beat in four quarters, actual against a consensus estimate, three executives responded by selling $1.94 million of stock over the next 25 days at prices now above the current market. Analysts see $13; the insiders chose $8.83 to $9.58.
- Revenue of $0.67 billion, up 51.9% year-over-year, with a 77.2% gross margin reflecting the platform's software-like economics.
- Three executives sold $1.94M in 25 days, President Denier twice, CFO Wang, and General Counsel James, with no insider purchases.
- Shares trade at $8.25, below all four insider sale prices and $4.75 below the $13 analyst consensus target.
Two Misses, Then a Blowout
Webull runs a digital investment platform across 14 jurisdictions from the U.S. to Japan and South Africa, with five product lines spanning securities trading, wealth management distribution, market data, a user community, and investor education. The 77.2% gross margin tells the software story: these are not brokerage commissions but recurring data and distribution fees that scale with the platform. The earnings trajectory into the recent quarter was choppy: a 20% miss, then a 33.3% miss produced back-to-back guidance disappointments before the most recent blowout snapped the streak. Whether that single quarter resets the credibility clock is exactly what three executives' decision to sell immediately after complicates.
The Selling Pattern
President Anthony Michael Denier led the selling with two open-market sales totaling $991,312, priced at $8.83 on August 25 and at $9.58 on September 8. CFO Haichen Wang followed at $8.98 on September 14 for $493,746; General Counsel Benjamin Worthy James opened the sequence on August 21 at $9.02 for $453,276. Insiders as a group still hold 19% of shares, making the $1.94 million in aggregate sales a partial exit rather than capitulation, but the complete absence of buying against a $0.61 trailing EPS and $1.93 billion net-cash balance adds weight to the selling.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| BULL | $4.5B | 26.2x | -41.5% |
| OSCR | $9.9B | 14.8x | +73.7% |
| SBET | $2.0B | 77.9x | -43.7% |
| BMNR | $15.7B | 27.6x | -52.8% |
| RR | $376M | n/a | -69.9% |
| ASST | $2.9B | n/a | -63.3% |
What the $13 Target Requires
That consensus target implies roughly 57% upside from $8.25, a plausible ask against 51.9% revenue growth, a $1.93 billion net-cash position, and a 26.2x forward P/E that prices in continued EPS improvement. The number that falsifies the bull case next quarter is concrete: if EPS trends back toward the $0.03 to $0.05 range of two prior misses, the recent blowout reads as a one-off that insider sellers anticipated. If EPS holds near $0.08 or better, the selling looks like ordinary liquidity and the gap closes. Stress-test the valuation at the DCF calculator, then run the free Webull Corporation deep-dive → before the next earnings print.
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Frequently Asked Questions
What was Webull's latest EPS result?
Webull posted a $0.07954 EPS in its most recent quarter against a $0.025 consensus estimate, representing a 200% beat. This was the company's largest earnings beat in four quarters.
How much did Webull insiders sell?
Three executives sold $1.94 million of stock over 25 days: President Denier sold $991,312 total, CFO Wang sold $493,746, and General Counsel James sold $453,276. All sales occurred at prices between $8.83 and $9.58 per share, which are now above the current market price of $8.25 but below the $13 analyst consensus target.
What is Webull's revenue growth rate?
Webull's revenue reached $0.67 billion with 51.9% year-over-year growth in its most recent quarter. The company maintained a 77.2% gross margin, reflecting the software-like economics of its digital investment platform.
Why would insiders sell after an earnings beat?
The article notes that no insider purchases accompanied the selling despite the strong results and the company's $1.93 billion net cash position. The absence of buying against a massive EPS beat complicates the credibility of the recent turnaround after two consecutive quarters of substantial misses.
Three Webull executives — the President (twice), CFO, and General Counsel — sold a combined $1.94 million of stock across four open-market transactions over 25 days, all at prices that now sit above the current market. The selling followed the company's largest earnings beat in four quarters, yet the stock trades more than $4 below the $13 analyst consensus target.