LONDON (ShareCast) - Robert Gorrie may have turned a few heads on Wednesday after it became known that he has sold a substantial number of shares in online grocer Ocado.

The Non-Executive Director, who has previously served as Logistics Director at the firm, sold 275,00 shares in the firm at a price of 501.8p, for a grand total of £1,379,950.

That is equivalent to 0.047% of Ocado´s issued share capital.

The stock hit a 52-week high on a closing basis just recently on January 13th, at 541p.

At its full-year results presentation on Tuesday, Ocado reported a slight beat with underlying earnings but profit before tax were below expectations.

To take into account, Jefferies highlighted that cash flows appeared “poor”.

The broker also seemed somewhat confused regarding the announcement of temporarily lower efficiency at its customer fulfilment facility (CFC-2) and what that meant for the profit outlook; nor was information provided on CFC-3.

Meanwhile, “some” might be disappointed by the 'push back' regarding a date for international licenses to materialise, the broker said.

Shares of Ocado ended Wednesday's session up 3.24% at 526.5p after falling by a similar amount on Tuesday.


Top Director Sells

Ocado Group (OCDO)
Director name: Mr Robert Gorrie
Amount sold: 275,000 @ 501.80p
Value: £1,379,950

Wynnstay Group (WYN)
Director name: Mr Ken Greetham
Amount sold: 20,000 @ 628.00p
Value: £125,600

Wynnstay Group (WYN)
Director name: Mr B Paul Roberts
Amount sold: 15,385 @ 628.00p
Value: £96,618

Domino Printing Sciences (DNO)
Director name: Mr Nigel R Bond
Amount sold: 9,789 @ 793.40p
Value: £77,666

Mattioli Woods (MTW)
Director name: Mr Mark Smith
Amount sold: 17,500 @ 415.50p
Value: £72,712

Wynnstay Group (WYN)
Director name: Mr Andrew Evans
Amount sold: 11,538 @ 628.00p
Value: £72,459

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