Director-level selling at Clearfield, Inc. (NASDAQ:CLFD) surfaced on February 19, 2026, when Donald R. Hayward disposed of 3,595 shares of common stock for approximately $115,040. According to the transaction details, the sales were executed at prices between $32.00 and $32.06. After completing the sales, Hayward retained direct ownership of 10,870 shares in the company.
The share sale coincided with the release of Clearfield's fiscal first-quarter 2026 results. The company reported a net loss per share of $0.04 for the quarter, missing a forecasted loss of $0.03. Revenue for the period was reported at $34.3 million, below the $43.0 million figure that had been anticipated by some observers.
At the same time, commentary accompanying the quarter noted that net sales were up 16% year over year. The results were described as failing to meet certain investor expectations, even as other internal metrics were framed differently. The company stated that its revenue exceeded consensus by 8%, and earnings per share from continuing operations were $0.02 above the midpoint of guidance. Management left full-year fiscal 2026 guidance intact despite second-quarter guidance that reportedly missed consensus revenue by 6% and earnings per share by $0.06.
Market analysts maintained interest in the name following the quarter. Needham reiterated a Buy rating on Clearfield stock and preserved a $45.00 price target in the wake of the first-quarter fiscal 2026 report. Investors and analysts continue to track both the insider transaction and the mixed signals in the companys reported results.
The juxtaposition of an insider sale with a quarter that includes both shortfalls and metrics described as above guidance creates a nuanced picture. Hayward's sale reduced his direct holdings while Clearfield's reported results and retained full-year guidance present a mix of outcomes that market participants are evaluating.