By Davit Kirakosyan
Investing.com -- Here is your Pro Recap of the biggest insider trades you may have missed this week: buys by top brass at Activision Blizzard, Intel, CVS, Keurig Dr. Pepper, and ADT.
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Activision Blizzard director buys $1 million in stock weeks after CMA blocks Microsoft deal
Activision Blizzard (NASDAQ:ATVI) Director Peter Nolan bought 13,160 shares, or over $1M worth, at $75.9882 a share.
This follows the UK Competition and Markets Authority’s (CMA) recently announced decision to block the acquisition of Activision Blizzard by Microsoft (NASDAQ:MSFT), citing concerns over competition in the Video Game industry, particularly cloud-based gaming. The merger spread on the deal is 27.4%.
Following the announcement, the company pre-released its earnings, posting quarterly bookings of $1.86 billion, beating the consensus estimate of $1.79 billion.
According to Reuters, the company’s King division recorded double-digit growth in mobile net bookings. Furthermore, the pre-sales for the game "Diablo IV" were strong. It is scheduled to be released on June 6.
Intel CEO buys shares following Q1 beat
Intel (NASDAQ:INTC) CEO Patrick Gelsinger, bought 8,200 shares, or $249,324 worth, at $30.385-$30.4184 a share, as InvestingPro reported in real time.
This comes a few days after the company reported better-than-expected Q1 results.
CVS CEO buys $1M in stock following disappointing guidance
CVS Health (NYSE:CVS) CEO and President Karen Lynch, bought 14,000 shares, or nearly $1M worth, at $69.7548 a share.
This was followed by the company’s disappointing 2023 guidance report, which resulted in shares closing the week with more than a 3% loss.
2 more insider purchases
Keurig Dr Pepper (NASDAQ:KDP) saw several insider buys from CFO, Chief Legal Officer, and two others, with the total value of the purchases being worth $1.3M (NYSE:MMM).
ADT (NYSE:ADT) CEO, CFO, and 3 other insiders bought the company’s stock amid the slide during the week. The total value of the purchases was nearly $670,000.
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