ESTA ESTABLISHMENT LABS HOLDINGS INC. Insider Trading

JW Asset Management sells 90,533 shares across 3 trades (May 26–28) for $6,636,886.30 at blended avg $73.31

JW Asset Management executed 3 separate sales totaling 90,533 shares for $6,636,886.30 over a three-day window, reducing holdings from 2,981,115 to 2,890,582 shares (-3.0%). The sales occurred at prices ($74.39, $72.50, $72.89) near current levels ($72.98), without obvious extreme timing relative to the 52-week range ($33.35–$83.31). Across the insider's cross-ticker open-market history, prior sells (2 total) have not demonstrated measurable patterns, and same-ticker history at ESTA shows 2 prior sells whose 90-day outcomes remain unmeasurable. The company remains unprofitable (net income $-13.4M in the latest quarter) despite strong annual revenue growth of +27.1%, creating a fundamental backdrop of growth under loss-making conditions that warrants attention to insider liquidity decisions.

JW Asset Management (10% owner) sells 20,579 shares at blended avg $71.25 for $1,466,333.40; retains 2,981,115 shares post-sale

JW Asset Management sold 20,579 shares in two separate transactions on 2026-05-20 and 2026-05-21 for a combined $1,466,333.40, representing a -0.7% reduction from pre-transaction holdings of 3,001,694 shares. The company's fundamentals show revenue of $59,877,000.00 in the latest quarter with net income of -$13,382,000.00, indicating ongoing unprofitability despite annual revenue growth of +27.1%. Current stock price of $72.19 sits 13.4% below the 52-week high of $83.31, though up 7.6% over the past 30 days. The insider's cross-ticker track record shows 18 prior buys versus only 2 prior sells, but same-ticker outcomes at ESTA remain non-measurable with insufficient time elapsed since the 2026-05-06 and 2024-12-04 prior sales.

Director Chacon Quiros disposed of 105,000 shares (~$7.9M) as stock trades near recent highs despite unprofitable financials.

Director Juan Jose Chacon Quiros sold over 105,000 shares in two tranches totaling approximately $7.9 million, representing a meaningful reduction in his holdings. The timing is notable: the stock is trading near its recent highs despite the company remaining unprofitable with significant net losses. His prior five sales at this stock have all been poorly timed — the stock rose after each previous exit, suggesting he has consistently sold into rallies rather than pullbacks. This latest sale follows a recent pattern: he also sold shares just nine calendar days earlier, indicating a consistent disposition trajectory. The company's underlying fundamentals remain challenged — it is not yet profitable and carries substantial operating losses — which provides context for why an insider with a poor track record of exit timing might be reducing exposure at elevated prices rather than waiting for a stronger financial position to justify holding.

10% owner LLC JW Asset Management sells 60,000 shares (2% of holdings) for $4.5M amid stock recovery from lows.

LLC JW Asset Management, a 10% beneficial owner of Establishment Labs, sold a modest 2% stake in the company for $4.5 million as the stock has recovered over recent months from its lows. This is a portfolio-management decision by an institutional investor, not insider conviction—the seller is not an officer or director, so the trade reflects fund rebalancing rather than operational knowledge of the company. Over the short term following this sale, the stock subsequently gained value after the prior exit, suggesting the fund's previous timing at this ticker was poorly-timed. The company itself remains unprofitable despite strong revenue growth, and the stock currently trades below its recent highs, having recovered from more severe weakness. For a retail investor, this institutional reduction is worth noting as a data point, but it carries limited signaling power about company fundamentals or near-term direction.

Director Chacon Quiros sells ~75k shares (~7% of holdings) across four May trades; stock down from 52-week highs but recent price strength follows a history of poorly-timed exits.

Chacon Quiros, a director at Establishment Labs, conducted four sales totaling approximately 75,000 shares in early May, representing his sixth through ninth open-market sales at this company in the trailing 36 months. The stock is currently trading well below its 52-week high but has shown strength over the past month, gaining roughly 10% in recent trading even as it remains down over a longer horizon. Historically, every one of Chacon Quiros's five prior sales at this company saw the stock rise afterward, meaning those earlier exits were poorly timed—he exited positions before subsequent gains materialized. The company itself remains unprofitable with mounting net losses, though it continues to grow revenue year-over-year, creating tension between operational momentum and financial bottom-line pressure. This current string of sales extends a consistent pattern of dispositions and comes at a moment when the stock has recovered some lost ground, though the outcomes of these specific May sales are not yet measurable.

Director Chacon Quiros sold 75,000 shares (75.0K) for $4.9M across 9 transactions at ESTA, retaining 1.11M shares post-sale

Juan Jose Chacon Quiros, a Director, executed 9 separate sales totaling 75,000 shares for $4,919,477.85 over three trading days (April 23–27, 2026), at prices ranging from $64.83 to $67.36 with a blended average of $65.59. Post-transaction, he retains 1,107,504 shares, representing a 6.3% reduction in holdings. The stock currently trades at $65.47, near the transaction price range and down 17.8% from its 52-week high of $79.67, suggesting the sales occurred in a moderately elevated price environment relative to recent lows but not at peak valuation. His prior sales at ESTA (5 earlier trades in March–April 2026) have generated positive 30-day returns (ranging +6.5% to +11.4%), indicating prior dispositions occurred ahead of near-term rallies; however, 90-day outcomes remain unmeasurable for most recent trades, limiting timing assessment. The company remains unprofitable (net income −$11.1M in latest quarter) despite strong revenue growth of +27.1% year-over-year, adding context to insider liquidity activity in a high-growth but currently loss-making business.

Director Juan Jose Chacon Quiros sold 37,500 shares of ESTA at $65.23 for $2.4M on 2026-04-14

Chacon Quiros sold 37,500 shares (37.5K shares) at $65.23, reducing his holdings from 1,220,004 to 1,182,504 shares. The sale occurred when the stock was trading 19.0% below its 52-week high of $79.67, though current price of $64.51 is only marginally below the transaction price. The company reported revenue of $53,782,000 ($53.8M) in the latest quarter with net income of negative $11,146,000 ($-11.1M), indicating ongoing unprofitability despite annual revenue growth of 27.1%. The director retained 1.18M shares post-transaction, maintaining substantial exposure to the company. Prior same-ticker trades at ESTA (four sells on 2026-03-23) lack measurable outcomes, providing limited context for evaluating this director's historical timing at this specific ticker.

Director Juan Jose Chacon Quiros sold 33,925 shares (2.7% of holdings) for $2.0M at blended $60.39, stock now -27.0% from 52-week high.

Director Juan Jose Chacon Quiros executed 4 separate sales totaling 33,925 shares for $2,048,696.99 on 2026-03-23. The shares sold at prices ranging from $60.23 to $63.01, with a blended average price of $60.39, while the current stock price stands at $58.16, representing a -27.0% decline from the 52-week high of $79.67 and a -23.5% decline over the past 30 days. The company is unprofitable with net income of $-11,146,000.00 over its most recent full fiscal year, though it posted revenue growth of +27.1% year-over-year and $53,782,000.00 in latest quarterly revenue. The timing of this sale—during a period of significant stock price weakness—occurs in a context where the stock has declined substantially from its peak, though the sale itself represents only a 2.7% reduction in the director's 1,223,579-share post-transaction position. Investors should note the director's sustained substantial holdings post-sale, the concurrent profitability challenge at the company despite revenue growth, and the deteriorating stock price trend in recent months.

Director Lewin Nicholas Sheridan bought 2,600 shares of ESTA at $37.85 on 2025-08-14; holdings rise 15.8% to 19,090 shares

Director Lewin Nicholas Sheridan purchased 2,600 shares of Establishment Labs on 2025-08-14, representing a 15.8% increase in personal holdings to 19,090 shares. The insider's cross-ticker track record shows 5 prior open-market purchases averaging +15.4% return over 30 days and +48.6% over 90 days with a 75% win rate, establishing a pattern of well-timed accumulation. At the same ticker, his prior 4 measurable buys (2023–2024) delivered 90-day returns ranging from +81.8% to −60.7%, with 3 of 4 well-timed by the 90-day mark. However, this timing advantage applies to trades made over 1–2 years ago into a different market environment; the current purchase occurs at $37.85 following a −14.6% decline over the past 30 days and −22.2% from the 52-week high, while the company reported $-16.6M net loss on $51.3M revenue (latest quarter) with only +0.5% annual revenue growth. The accumulation signal is offset by deteriorating near-term price momentum and continued unprofitability, warranting attention to whether this reflects a positioned long-term conviction or entry during an extended drawdown.

Director Lewin Nicholas Sheridan bought 2,300 shares of ESTA at $34.30; stock down 15.8% in 30 days but insider's prior ESTA buys averaged +87.0% at 90d.

Director Lewin Nicholas Sheridan purchased 2,300 shares at $34.30, increasing holdings by 16.2% to 16,490 shares. The transaction occurred as the stock trades 21.4% below its 52-week high and down 15.8% over the past 30 days, positioning the buy near recent weakness. His prior trades at ESTA show strong long-term timing: three of four prior buys achieved gains of 31.6%, 31.1%, and 5.0% at the 30-day mark, with the first three buys all exceeding 81.8% returns at 90 days. However, the company remains unprofitable with negative net income of $16.6M on quarterly revenue of $51.3M and annual revenue growth of only +0.5%, which constrains the risk-reward profile despite the insider's historical execution at this security.