Stephanie McMahon sells significant amount of WWE stock

WWE Chief Brand Officer Stephanie McMahon looks to have sold a chunk of her WWE stock.

In a filing that has just been published, it has been revealed that McMahon sold $2,255,710 worth of her WWE shares on September 21, 2020. Stephanie McMahon-Levesque sold 57,573 shares at an average share price of $39.18.

The 57,573 shares sold by Stephanie McMahon amounts to roughly 43% of her Class A WWE stock. However, this amounts to only 3% of her total WWE stock which predominantly made up of Class B stock.

Stephanie McMahon still owns 1,885,387 shares worth a market value of close to $73.9 million. Stephanie remains the 2nd largest non-institutional shareholder of WWE behind her father, WWE Chairman Vince McMahon.

On Stephanie's stock sale, it's 43% of her class A stock, not her class B stock which is a far larger chunk.
— Dave Meltzer (@davemeltzerWON) September 22, 2020

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WWE's share price on the New York Stock Exchange has taken a significant hit in the past 18 months for a variety of reasons.

WWE's share price hit a near record high on April 18, 2019 at $96.71 per share. However, since then, WWE's stock has continued to decline. By November 8, 2019 the share price had declined by 43% to $54.72. This decline has continued in 2020 due to the economic impact associated with the COVID-19 pandemic with WWE's share price being listed as $39.21 as of September 22, 2020.

Triple H sells WWE stock in August

Chief Brand Officer Stephanie McMahon-Levesque selling a large portion of her stock follows a similar move by her husband, Executive Vice President of Global Talent Strategy & Development Triple H last month. The Cerebral Assassin sold a significant portion of his stock leading to a similar monetary amount in August of 2020.

This follows an August sale by her husband WWE EVP Paul Levesque that produced proceeds in a similar amount.I said at the time I would be surprised if we saw Stephanie make a sale at a similar value in the near future.https://t.co/eNpnC74Dl5
— Brandon Thurston (@BrandonThurston) September 22, 2020

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Back in August, Paul Levesque, also known as WWE Superstar Triple H, sold 45,388 shares of his WWE stock at a price of $45.61 per share. This was followed by Levesque selling an additional 7,419 shares of his WWE stock at $45.83 per share days later.

These two company stock sales by Paul Levesque reportedly netted the NXT founder and Executive Producer over $2.4 million. It was also reported that Levesque currently has 81,325 shares of WWE stock remaining.

What are your thoughts on Stephanie McMahon and Triple H selling significant portions of their WWE stock?