The CEO of the world’s largest wealth management company recently sold a large number of shares. Could the sale be a foreshadowing of what’s to come in the markets?

What happened: BlackRock Inc BLACK chairman Laurence Fink sold 44,500 shares of the company on August 5 at a price of $684.61 each. The sale was estimated at $30.5 million Gasoline gas insider transaction site.

Following the sale, Fink owns 563,771 shares of BlackRock. Fink’s stake is valued at $393.8 million based on Monday’s share price. According to Benzinga research, Fink is worth $1.2 billion.

Fink’s recent sale is Fink’s largest reported sale by dollar amount in years and marks its largest sale by number of shares since early 2020.

Fink sold BlackRock shares in February, May, October and December 2021. The sales were valued at $20 million, $30 million, $25.3 million and $15.1 million, respectively.

BlackRock’s CEO and co-founder was granted shares in BlackRock in January and February 2022 prior to the sale.

Breaking news: BlackRock CEO Larry Fink sold $30 million worth of stock last week — his largest stock sale since just before the COVID crash of 2020.

BlackRock is the largest wealth manager in the world with over $8 trillion in assets under management.

— AssetDash (@assetdash) August 8, 2022

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Why it matters: The transactions show that Fink sells BlackRock shares on a regular basis each year, with transactions typically occurring on a quarterly basis.

The sale, which is potentially Fink’s biggest dollar amount and the biggest since early 2020, could set off some alarm bells as it comes from the CEO of the world’s largest wealth manager.

BlackRock has $10 trillion in assets under management and may have one of the best insights into global markets and what’s happening. With talk of a recession in the US, the sale of Fink could precede a further decline in the market.

Fink placed two…