This article summarizes the most significant insider buying and selling activities in US stocks reported on Monday, September 9, 2024.
Top Insider Buys:
• Appian Corp (NASDAQ:APPN): Abdiel Capital entities, including Abdiel Capital Advisors, LP and Abdiel Qualified Master Fund LP, have increased their stake in Appian Corp. Between September 5 and September 9, they purchased shares totaling approximately $2.08 million, with prices ranging from $29.98 to $31.31 per share. The largest single-day purchase occurred on September 9, with 22,262 shares bought at an average price of $30.22.
• ProFrac Holding Corp. (NASDAQ:PFHC): THRC Holdings, LP, THRC Management, LLC, and Dan Wilks made a substantial insider purchase in ProFrac Holding Corp. Over two days, they acquired a total of 381,359 shares of Class A common stock. On September 5, 165,316 shares were bought at a weighted average price of $6.2 per share, and on September 6, an additional 216,043 shares were acquired at an average price of $6.21 per share. The total investment amounted to over $2.36 million.
• Black Stone Minerals , L.P. (NYSE:NYSE:BSM): Thomas L. Carter Jr., the CEO, President, and Chairman of Black Stone Minerals, L.P., purchased 100,000 common units representing limited partner interests on September 6. The acquisition was made at a weighted average price of $14.118, totaling approximately $1.41 million. Following this purchase, Carter's (NYSE:CRI) direct holdings increased to 3,133,128 common units.
• Golub Capital BDC, Inc. (NASDAQ:GBDC): Chairman Lawrence E. Golub and CEO David Golub both made significant purchases in Golub Capital BDC, Inc. Each acquired 40,000 shares on September 5 and 6, with transactions valued at approximately $593,800 per executive. The shares were bought at weighted average prices ranging from $14.78 to $14.91 per share.
Top Insider Sells:
• Atlassian (NASDAQ:TEAM) Corporation (NASDAQ:TEAM): Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corporation, sold a significant portion of his holdings on September 6. The transactions involved the sale of Class A Common Stock totaling over $1.28 million, with prices ranging between $159.51 and $165.13 per share. These sales were executed under a prearranged Rule 10b5-1 trading plan.
• Sotera Health Co (NASDAQ:SHC): Warburg Pincus & Co. sold 15 million shares of common stock in Sotera Health Co at a price of $15.03 per share, resulting in a total deal value of approximately $225.45 million. The sale was conducted as an underwritten public secondary offering on September 6. After the transaction, Warburg Pincus Entities still hold approximately 73,822,952 shares in the company.
• Kellanova (NYSE:K): The Kellogg (NYSE:K) W K Foundation Trust sold 114,583 shares of Kellanova stock on September 9 at a price of $80.2508 per share, totaling approximately $9,195,377. Following this transaction, the Trust's holdings in the company stand at 50,482,855 shares.
• Custom Truck One Source, Inc. (NYSE:CTOS): Executives at NESCO Holdings LP sold a substantial number of shares in Custom Truck One Source, Inc. on September 5. The total number of shares disposed of was 2,354,109, sold at a weighted average price of $3.42, resulting in aggregate sales proceeds of approximately $8,051,052.
Investors should stay tuned to insider buying and selling activities as they can provide valuable insights into a company's prospects. While insider trades 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 note that insiders may have various reasons for buying or selling shares, and these transactions should be considered as part of a broader investment strategy.
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