Hagerty Director Sells 5,531 Shares for $61,000
Key Points
Laurie Harris sold 5,531 shares for a transaction value of ~$61,000 on April 7, 2026, at around $11.01 per share.
The transaction represented 13.1% of Harris' direct holdings; post-sale direct ownership stands at 36,689 shares.
All shares sold were direct holdings; no indirect or derivative positions were involved in this transaction.
Harris retains 36,689 shares of Common Stock (direct) after the sale.
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Laurie Harris, a director at Hagerty (NYSE:HGTY), reported the sale of 5,531 shares of common stock in an open-market transaction on April 7, 2026, according to an SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 5,531 |
| Transaction value | $60,896 |
| Post-transaction shares (direct) | 36,689 |
| Post-transaction value (direct ownership) | $407,000 |
Transaction value based on SEC Form 4 reported price ($11.01); post-transaction value based on April 7, 2026 market close ($11.08).
Key questions
- How does the size of this sale compare to Harris' recent trading activity?
The 5,531 shares sold is the largest single open-market sale by Harris in the past three years, exceeding the mean sale size of ~4,371 shares across the prior three sell transactions. - What portion of Harris' equity does this transaction represent?
This sale accounted for 13.1% of Harris' direct equity position at the time, reducing direct ownership from 42,220 to 36,689 shares. - Was this sale discretionary, and what was the stated rationale for the timing?
The transaction was executed automatically under a Rule 10b5-1 plan, specifically as a "sell to cover" to satisfy tax withholding linked to the vesting of restricted stock units, not as a discretionary portfolio decision. - Does Harris maintain a material continuing position in Hagerty following this transaction?
Yes; Harris continues to directly own 36,689 shares of Class A Common Stock after the sale, providing ongoing exposure to the company.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $3.81 billion |
| Revenue (TTM) | $1.46 billion |
| Net income (TTM) | $38.68 million |
| 1-year price change | 32.38% |
1-year performance calculated using April 7, 2026, as the reference date.
Company snapshot
- Offers specialty insurance products for automobiles and boats, reinsurance, subscription-based enthusiast services, valuation tools, and event management platforms.
- Generates revenue through insurance premiums, subscription fees, media content, and event services, leveraging a diversified ecosystem for automotive enthusiasts.
- Targets classic and collector vehicle owners, automotive enthusiasts, and event organizers seeking specialized insurance and community-driven services.
Hagerty is a specialty insurance and automotive lifestyle company with a market capitalization of $3.81 billion and annual trailing-12-month revenue of $1.46 billion. The company’s integrated platform combines insurance, media, and enthusiast services, creating multiple touchpoints with its target market. Hagerty's competitive edge lies in its unique blend of insurance expertise and a robust, engaged community of automotive enthusiasts.
What this transaction means for investors
Harris’ April transaction occurred automatically due to a Rule 10b5-1 trading plan. In short, the sale was a "sell to cover" transaction, intended to cover the tax withholding obligations related to the vesting of restricted stock units.
The specialty insurance company’s shares are down more than 16% year to date as of April 13. However, its recent results and current year outlook appear positive. It released its full-year 2025 financial results and 2026 guidance on Feb. 26, which featured a 17% year-over-year increase in total revenue, a 14% increase in written premium, a 119% increase in marketplace revenue, and a record 371,000 new members. Its outlook for 2026 is for sustained written premium growth of 15% to 16%.
More recently, the company, which focuses heavily on automotive collectors and enthusiasts, made headlines when it announced its Broad Arrow Auctions unit would hold the first North American public auction of a Gordon Murray Automotive T.50 during the upcoming California Mille tour.
Hagerty stock is up a little more than 14% over the last five years, though it’s been a bumpy road. It appears to have a solid moat in its niche corner of the automotive enthusiast market, and insurance stocks tend to stand out as good investments in good times and bad. Interested investors may also want to consider Progressive and Allstate, larger and more general insurance companies whose stock prices have risen 97.4% and 53.4%, respectively, over the last five years.
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Sarah Sidlow has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Progressive. The Motley Fool recommends Hagerty. The Motley Fool has a disclosure policy.
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