Fermi (FRMI) 10% Owner Toby R Neugebauer Sells $1.3M of Stock

By TradeTexts Research Desk Oct 22, 2026, 6:01 PM EDT

Key Points

Major shareholder Toby R Neugebauer sold 420,749 shares of Fermi Inc. on October 20, 2026, for about $1.28 million.
After the trade, Toby R Neugebauer indirectly holds 91,188,910 $FRMI shares, down 0.46% from before the trade.
The transaction was filed through a Form 4 disclosure with the SEC.
Wall Street analysts maintain various price targets for Fermi Inc. ahead of its next earnings report.

Since the trade, $FRMI is down 9.9% to date (from the $2.94 close on Oct 20, 2026).

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Major shareholder Toby R Neugebauer sold 420,749 shares of Fermi Inc. (NASDAQ:FRMI) on October 20, 2026. The transaction was revealed in a Form 4 filing submitted to the Securities and Exchange Commission.

FRMI Fermi Inc.

$2.65 -69.95% year to date

Daily close · Oct 22, 2026

Inside Toby R Neugebauer's Fermi Inc. Trade

Neugebauer executed the sale at an average price of $3.04 per share, bringing the total value of the transaction to roughly $1.28 million. Following this sale, Neugebauer directly held 91,188,910 shares of Fermi Inc., marking a 0.46% decrease in his total holdings. This transaction follows earlier sales by the same shareholder reported on October 13 and October 14, 2026. The stock closed at $2.94 on the day of the trade.

Other Institutional Activity in Fermi Inc.

Other large funds adjusted their positions in Fermi Inc. during recent reporting periods. Srs Investment Management, LLC grew its holdings by 10,102,790 shares, ending with 20,205,579 shares worth about $53.5 million. Citadel Advisors LLC added 2,365,453 shares to finish with 8,587,055 shares valued at roughly $22.8 million. Point72 Asset Management, L.P. grew its stake by 5,790,505 shares to hold 7,036,123 shares worth about $18.6 million. Shaw D.E. & Co., Inc. lifted its position by 4,590,530 shares to end with 5,418,891 shares valued at roughly $14.4 million. Millennium Management LLC grew its stake by 4,244,460 shares, resulting in 4,303,619 shares worth about $11.4 million.

Fermi Inc. Stock Down 7.3%

Fermi Inc. shares recently traded around $2.65, which is down about 9.9% since the transaction date when the stock closed at $2.94. The company has a market capitalization of roughly $1.70 billion. The stock trades well below its 50-day and 200-day moving averages and sits near its 52-week low of $2.58.

Recent Earnings

Fermi Inc. reported an earnings per share of -$1.27 over the trailing twelve months. The company has a net margin of 0.0% and its next earnings release is scheduled for November 12, 2026.

Dividend

Fermi Inc. currently pays no dividend, with a dividend yield of 0.0%.

Insider Buying and Selling at Fermi Inc.

Insiders have completed several transactions in Fermi Inc. stock over recent months. Mesut Uzman sold 158,541 shares on June 3, 2026, at an average price of $6.31 for a total of $1,000,394. James Richard Perry sold 863,637 shares on June 30, 2026, at $9.16 per share for a total value of $7,910,915. Toby R Neugebauer sold 2,750,000 shares on October 13, 2026, at $3.73 per share totaling $10,266,575, and later sold 1,297,200 shares on October 14, 2026, at $3.15 per share for $4,089,293.28.

Analysts Set New Price Targets

Wall Street firms continue to evaluate Fermi Inc. with various price targets and ratings. Mizuho maintained an Outperform rating on July 28, 2026, with a price target of $11.00, down from its prior target of $27.00. Macquarie maintained an Outperform rating on August 13, 2026, holding its price target at $18.00, and later maintained the same rating on August 14, 2026, while lowering its target to $15.00. Macquarie again maintained an Outperform rating with a $15.00 target on October 14, 2026. Cantor Fitzgerald maintained an Overweight rating on October 16, 2026, while lowering its price target from $12.00 to $8.00. Across the broader analyst community, the stock holds a consensus buy recommendation with a mean price target of $16.62 based on 8 analyst opinions.

About Fermi Inc.

Fermi Inc. develops next-generation private electric grids that deliver highly redundant power at gigawatt scale to support artificial intelligence compute. The company combines advanced technology with multidisciplinary engineering experience to help build massive private grids aimed at supporting future energy and computing needs.

Bottom Line

Investor attention now shifts to Fermi Inc.'s upcoming earnings report scheduled for November 12, 2026. Market observers will continue to track insider filing disclosures and institutional portfolio adjustments for further indications of market sentiment.