BigBear.ai (NYSE: BBAI) stock is seeing another day of big sell-offs in Thursday's trading. The company's share price was down 14.9% as of 2:45 p.m. ET. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) was down 0.4%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down 0.5%.

BigBear.ai is sinking today following disclosures with the Securities and Exchange Commission (SEC) showing new rounds of selling from company insiders and institutional shareholders. The stock has seen big pullbacks this week in conjunction with insider selling, but its share price is still up roughly 31% over the last month.

SEC filings show new waves of sales for BigBear.ai stock

Filings with the SEC yesterday showed new rounds of insider selling and planned stock sale disclosures. BigBear.ai's chief accounting officer Sean Ricker sold 17,629 shares of company stock yesterday. Meanwhile, BBAI Ultimate Holdings submitted a filing indicating that it planned to sell 3,248,938 shares of stock yesterday.

BBAI Ultimate Holdings is a division of AE Industrial Partners and is required to publish filings when it's buying and selling stock, because it owns more than 10% of BigBear.ai's stock. AE Industrial Partners is BigBear.ai's largest shareholder and has been selling large amounts of stock in conjunction with a recent run-up in the company's share price. Another filing with the SEC yesterday showed that BBAI Ultimate Holdings had moved forward with its sale of 13.1 million shares of stock between Dec. 9 and 10.

What's next for BigBear.ai stock?

Even with recent sell-offs, BigBear has rocketed higher over the past month, as some investors have bet on the company's potential to be one of the next red-hot artificial intelligence (AI) stocks. On the other hand, the recent gains in the company's valuation appear to have been at least partially propelled by meme stock momentum, and it's notable that the software specialist's largest shareholder has been aggressively selling shares. The company's management team and board of directors have also been frequent sellers of company stock recently.

BigBear.ai could have trouble regaining its meme stock magic if insiders and large shareholders continue to sell stock at substantial levels. While the company's long-term business performance will ultimately shape its stock performance, the company's valuation could face more pressure in the near term if sales-disclosure filings with the SEC continue coming in hot.

Should you invest $1,000 in BigBear.ai right now?

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