This article summarizes the most significant insider buy and sell transactions for US stocks reported on Wednesday, September 25, 2024.
Top Insider Buys:
• KVH Industries Inc. (NASDAQ:KVHI): Director and ten percent owner Stephen H. Deckoff purchased 50,200 shares valued at over $224,000. The shares were acquired at a weighted average price between $4.46 and $4.50. Following these transactions, the reporting entities now own 3,357,398 shares, demonstrating a strong commitment to the company.
• Appian Corp (NASDAQ:APPN): Abdiel Capital Advisors, LP and its related entities acquired $1.41 million worth of Class A Common Stock. The purchases occurred over several days, with prices ranging between $32.87 and $33.08 per share. The largest single-day purchase was on September 24th, at a weighted average price of $32.87, showing continued interest in the software company.
• Methode Electronics Inc . (NYSE:NYSE:MEI): Director Mary A. Lindsey increased her stake in the company by purchasing 8,800 shares valued at approximately $100,107. The transaction took place on September 23, with prices ranging from $11.36 to $11.39. Lindsey's total holdings now amount to 25,970 shares of common stock.
• Fortress Biotech, Inc. (NASDAQ:FBIO): President, CEO, and Chairman Dr. Lindsay (NYSE:LNN) A. Rosenwald acquired 763,359 shares at $1.84 per share, totaling approximately $1.4 million. This significant purchase on September 23 increased Dr. Rosenwald's total holdings to 3,657,264 shares, demonstrating confidence in the biopharmaceutical firm's future.
Top Insider Sells:
• CrowdStrike Holdings, Inc. (NASDAQ:CRWD): CEO George Kurtz sold shares totaling over $16 million on September 23. The sales were executed in multiple trades, with prices ranging from $293.41 to $301.94 per share. These transactions were made to cover tax withholdings due on vesting restricted stock unit awards.
• Magnolia Oil & Gas Corp (NYSE:NYSE:MGY): Executives at EnerVest, Ltd. sold 7 million shares of Class A common stock for a total of $181 million. The shares were sold at $25.86 each on September 23, though the executives still retain a substantial number of shares in the company.
• Carvana Co. (NYSE:NYSE:CVNA): Significant shareholder Ernest Garcia II sold shares for a total value of $34,394,642 over two days. The sales occurred at weighted average prices ranging from $167.9839 to $175.7486, executed through a pre-arranged Rule 10b5-1 trading plan.
• UL Solutions Inc. (NYSE:ULS): A major shareholder, ULSE Inc., sold their entire stake of 3 million shares of Class A Common Stock for $147 million. The sale took place on September 23, with shares priced at $49.00 each.
• Darden Restaurants Inc. (NYSE:NYSE:DRI): President and CEO Ricardo Cardenas sold 42,403 shares for over $7.2 million, with prices ranging between $171.43 and $172.20 per share. Cardenas also acquired shares through option exercises on the same day.
Investors should stay tuned to insider buy and sell activities as they can provide valuable insights into a company's internal perspective. While insider transactions alone should not be the sole basis for investment decisions, they can offer additional context when combined with other fundamental and technical analysis. It's important to remember that insiders may have various reasons for their transactions, and interpreting these moves requires careful consideration of multiple factors.
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