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This article summarizes the most significant insider buying and selling activities reported on Monday for US-listed companies.
Top Insider Buys:
Aeva Technologies, Inc. (NYSE:AEVA):
Sylebra Capital LLC, a major stakeholder in Aeva Technologies, substantially increased its position in the company through multiple transactions. Between March 27 and March 31, Sylebra Capital acquired 3,558,227 shares at prices ranging from $6.15 to $6.77, totaling approximately $23.28 million. This strategic move comes as AEVA has delivered impressive returns of 128% over the past six months. Following these purchases, Sylebra Capital now holds 16,228,553 shares, representing a significant portion of the company’s $367.13 million market capitalization.
Global Water Resources, Inc. (NASDAQ:GWRS):
Jonathan L. Levine, a director at Global Water Resources, made a substantial investment in the company by purchasing 1,187,200 shares at $10 per share on March 27. This $11.87 million transaction occurred near the stock’s 52-week low of $9.79. Following this purchase, Levine now holds a total of 11,398,491 shares indirectly through Levine Investments Limited Partnership, with an additional 50,000 shares held indirectly by the Levine Family Trust "A."
In a related transaction, Director Andrew M. Cohn also acquired a significant stake in Global Water Resources. Cohn purchased 252,000 shares at $10 per share, totaling $2.52 million. This acquisition was part of a public offering and brings Cohn’s direct ownership to 2,379,899 shares, with an additional 42,150 shares held indirectly through a family relationship.
Tortoise Sustainable & Social Impact Term Fund (NYSE:TEAF):
Saba Capital Management, L.P., a major stakeholder in Tortoise Sustainable & Social Impact Term Fund, increased its position by acquiring 33,116 shares at $11.31 each, for a total investment of $374,541. This transaction, executed on March 28, brings Saba Capital Management’s total holdings in the fund to 1,383,564 shares.
Commercial Metals Co. (NYSE:CMC):
Peter R. Matt, President and CEO of Commercial Metals Co., purchased 6,100 shares of common stock at $48.30 per share on March 27, totaling approximately $294,630. This transaction increases Matt’s direct ownership to 129,417 shares. The purchase is particularly noteworthy as the stock trades near its 52-week low, potentially signaling the executive’s confidence in the company’s future prospects.
Top Insider Sells:
Oklo Inc. (NASDAQ:OKLO):
Jacob DeWitte, Co-Founder and CEO of Oklo Inc., sold a significant amount of company stock between March 27 and March 31. The transactions totaled approximately $4.98 million, with share prices ranging from $21.80 to $26.00. These sales occurred amid high price volatility and a recent 25% decline in the stock price over the past week.
Soleno Therapeutics Inc. (NASDAQ:SLNO):
Several executives at Soleno Therapeutics Inc. executed substantial stock sales:
Yen Kristen, Senior Vice President of Global Clinical Operations and Patient Advocacy, sold 73,631 shares at prices ranging from $65.9957 to $66.9528 per share, amounting to approximately $4.88 million.
James H. Mackaness, Chief Financial Officer, sold shares totaling approximately $4.88 million, with sale prices ranging from $69.07 to $70.80 per share.
CEO Anish Bhatnagar made the largest transaction, selling shares totaling approximately $35.3 million, with prices ranging from $65.8119 to $69.2977 per share.
These sales come as SLNO trades near its 52-week high of $73.97, having delivered impressive returns of 59% year-to-date.
Investors should closely monitor insider trading activities as they can provide valuable insights into a company’s prospects. While insider buying often signals confidence in a company’s future, insider selling can have various motivations and doesn’t necessarily indicate a negative outlook. It’s essential to consider these transactions alongside other fundamental and technical analysis when making investment decisions.
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