This article summarizes the most significant insider buys and sells for US stocks on Wednesday, October 23, 2024.
Top Insider Buys:
• Inhibikase Therapeutics Inc. (NASDAQ:IKT) saw substantial insider purchases from three directors. Roberto Bellini acquired 1,460,000 shares at $1.37 each, totaling approximately $2,000,200, through BSQUARED CAPITAL INC. Bellini also received options for 60,000 shares at $2.22 per share. Kush Arvind purchased 145,000 shares at $1.37 each, amounting to $198,650. Amit Munshi bought 365,000 shares at $1.37 per share, totaling $500,050, through the Amit Munshi Revocable Trust. All three directors also received stock options for 60,000 shares at $2.22 per share.
• Texas Capital Bancshares Inc. (NASDAQ:TCBI) director Robert W. Stallings acquired 20,000 depositary shares of Series B Preferred Stock at $21.28 per share, totaling approximately $425,600. Stallings now directly owns 84,587 depositary shares, with additional indirect ownership through SCG Ventures LP and the Stallings Foundation.
• RDE, Inc. (NASDAQ:GIFT) Chief Technology Officer Balazs Wellisch purchased a total of 36,000 shares at prices ranging from $1.45 to $2.95 per share, amounting to $53,700. This increased Wellisch's direct ownership to 1,040,217 shares.
Top Insider Sells:
• Penumbra Inc (NYSE:NYSE:PEN) CEO and President Adam Elsesser sold 15,000 shares at prices between $202.86 and $206.53, totaling approximately $3.07 million. The sales were made under a pre-arranged Rule 10b5-1 trading plan.
• Carvana Co. (NYSE:NYSE:CVNA) major shareholder Ernest C. Garcia II sold shares amounting to approximately $38.6 million at prices ranging from $189.59 to $197.38 per share. The sales were conducted under a pre-established trading plan.
• Zoom Video Communications Inc. (NASDAQ:ZM) CEO Eric Yuan sold 71,436 shares of Class A common stock at prices between $70.8056 and $72.2121 per share, totaling approximately $5.13 million. The sales were part of a pre-established Rule 10b5-1 trading plan.
• Atlassian Corp (NASDAQ:TEAM) saw insider sales from two executives. CEO and Co-Founder Michael Cannon-Brookes sold 7,948 shares at prices ranging from $191.40 to $195.58, totaling approximately $1.54 million. Director Scott Farquhar also sold 7,948 shares in the same price range, amounting to $1.54 million.
Investors should stay informed about insider trading activities as they can provide valuable insights into a company's financial health and future prospects. While insider buys may indicate confidence in the company's future, insider sells can have various motivations and should be interpreted cautiously. It's essential to consider these transactions as part of a broader analysis of a company's fundamentals and market conditions before making investment decisions.
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