Viavi Exec Paul McNab Sells $119K in Shares Amid Bullish Rally – Is It a Signal or Routine Portfolio Move?

Insider Selling in a Bullish Cycle: What Viavi Executives Are Doing

The recent sale of 4,638 shares by EVP Paul McNab at roughly $25.80 per share is part of a steady stream of off‑balance‑sheet trades that has been unfolding over the past year. McNab’s most recent transaction comes as the stock sits near its 52‑week high and a 12‑month rally of over 60 % has put Viavi on a positive trajectory.

Transaction Context and Market Sentiment

At a price virtually unchanged from the current close ($25.59), the sale was executed in a single block of 4,638 shares, generating about $119 000 in proceeds. The trade was announced with a footnote explaining that it was executed in multiple trades at $25.79–$25.81, and that McNab would provide full details upon request. In the broader market, the stock’s price change is nil, yet social‑media buzz remains high—buzz at 99.56 % indicates that investors are still talking about Viavi, and the sentiment score is flat, suggesting that the sale has not yet rattled investor confidence.

What the Selling Means for Investors

McNab’s pattern of transactions over the last 12 months shows a mix of buys and sells, but the net position has drifted downward. From a 63,000‑share holding in October 2025 to 21,749 shares after the February sale, McNab has been trimming his stake. This is typical for executives who need to diversify personal wealth or meet liquidity needs, yet the timing can raise questions for shareholders. The key question is whether the selling is a signal of impending weakness or simply a routine portfolio adjustment.

• Liquidity vs. Confidence – Executives often sell to fund personal projects or diversify. The fact that the sale occurred at a near‑peak price may indicate a willingness to lock in gains rather than a signal of a downturn.
• Volume Impact – 4,638 shares represent only 0.04 % of the outstanding float, so the immediate market impact is minimal. However, repeated sales by senior management can cumulatively erode investor sentiment.
• Historical Buy‑Backs – In September 2025, McNab made significant purchases (up to 23,984 shares) at lower prices, suggesting that he remains optimistic about the long‑term prospects while selectively harvesting gains.

Implications for Viavi’s Future Outlook

The company’s fundamentals remain robust: a 12‑month upside of 61 %, a 52‑week high of $26.04, and a strong earnings growth trajectory. The price‑earnings ratio is currently negative, reflecting early‑stage profitability or high depreciation, but the broader market has accepted the valuation, as evidenced by the steady rally. Executives’ insider activity may be a normal part of corporate governance, yet the frequency of sales in a buoyant environment could be interpreted as a subtle hedge against future volatility.

For investors, the message is mixed: on one hand, the sale does not appear to be a panic move, and the stock is still in an uptrend. On the other hand, continuous selling by top management may signal that the company’s leadership is positioning themselves for a potential downturn or for personal liquidity needs. A prudent strategy would be to monitor subsequent filing dates, particularly any large block trades or significant changes in McNab’s holdings, as these can serve as early warning signs.

Paul McNab: A Profile of Executive Activity

McNab Paul has been a central figure in Viavi’s marketing and strategy since joining the company. Over the past year he has executed 12 sell transactions and 8 buy transactions, with a net reduction of roughly 41,000 shares. His buys often occur at lower price points (e.g., September 2025 trades at $12.41 or $0.00, the latter being a market‑unit trade) while his sells cluster around mid‑to‑high price levels, suggesting a “buy low, sell high” approach. The pattern indicates that McNab is actively managing his equity position, likely balancing personal wealth goals with a long‑term belief in Viavi’s growth.

His most recent sell in early February 2026 comes after a series of trades that saw his holdings dip from 63,265 shares in October 2025 to 21,749 shares post‑trade. The trade volume is modest relative to the company’s market cap, but it underscores a trend of gradual divestment that could become more pronounced if market conditions deteriorate. For stakeholders, McNab’s activity is a useful barometer of executive confidence, but it should be weighed against broader corporate developments such as product launches, revenue growth, and macro‑economic factors.

In summary, while McNab’s recent sale is not an immediate cause for alarm, it is a piece of the puzzle that investors should keep an eye on. The company’s fundamentals remain solid, but the cumulative effect of insider selling, coupled with a negative P/E ratio and a market still in a bull phase, calls for a cautious but optimistic approach.