This article summarizes the most significant insider buying and selling activities reported for US stocks on Monday, September 30, 2024.
Top Insider Buys:
• Viridian Therapeutics, Inc. (NASDAQ:VRDN) saw its President and CEO Stephen F. Mahoney make a substantial investment in the company's stock. Mahoney purchased 21,400 shares at $23.33 each, for a total value of approximately $499,261. This acquisition, which took place on September 27, 2024, demonstrates Mahoney's confidence in the future of the medical laboratory services firm. Following the transaction, Mahoney now directly owns 21,400 shares, strengthening his vested interest in the company's success.
• Armada Hoffler Properties, Inc. (NYSE:AHH) reported multiple insider purchases, with CEO Louis S. Haddad, director Daniel A. Hoffler, and director Russell Kirk each acquiring 95,238 shares at $10.50 per share. These transactions, all occurring on September 26, 2024, amounted to approximately $1 million each. Haddad's purchase increased his direct ownership to 577,143 shares, while Hoffler's total ownership rose to 266,647 shares. These significant investments by key insiders reflect a strong belief in the real estate firm's prospects.
• Cantaloupe Inc. (NASDAQ:CTLP) director Douglas Bergeron made a series of purchases totaling over $2.1 million. Bergeron acquired 13,866 shares at $7.15 each on September 26, followed by 234,134 shares and 36,000 shares on September 27 and September 30, respectively. The prices for these later transactions ranged from $7.23 to $7.53, with a weighted average price of $7.41. This substantial investment indicates Bergeron's positive outlook on Cantaloupe's future.
Top Insider Sells:
• Janux Therapeutics, Inc. (NASDAQ:JANX) saw significant stock sales by executives and entities associated with Avalon Ventures. Between September 26 and September 30, these insiders sold shares totaling approximately $14,452,393, with prices ranging from $46.19 to $47.77 per share. The sales were conducted by Avalon Ventures XI, L.P., Avalon BioVentures I, LP, Avalon BioVentures SPV I, L.P., and Jay Lichter, demonstrating a substantial reduction in their holdings of the pharmaceutical preparations company.
• Palo Alto Networks Inc. (NYSE:NASDAQ:PANW) reported a major transaction involving Executive Vice President and Chief Technology Officer Nir Zuk. Zuk sold shares amounting to over $12.9 million on September 3, 2024, under a pre-arranged Rule 10b5-1 trading plan. This type of plan allows company insiders to set up predetermined stock sales to avoid potential insider trading concerns.
• Dell Technologies Inc. (NYSE:NYSE:DELL) CEO Michael S. Dell sold 10,000,000 shares of Class C Common Stock at $122.4 per share on September 26, 2024. This transaction, valued at over $1.2 billion, represents a significant reduction in Dell's holdings, though he still retains 16,912,241 shares after the sale.
• Walmart Inc. (NYSE:NYSE:WMT) President and CEO C. Douglas McMillon sold 29,124 shares at a weighted average price of $80.6426 on September 26, netting approximately $2.35 million. This sale was executed under a prearranged Rule 10b5-1 trading plan, which was disclosed in a Form 8-K filed on February 24, 2023.
• Coinbase (NASDAQ:COIN) Global, Inc. (NASDAQ:COIN) Chief Legal Officer Paul Grewal sold 8,200 shares of Class A Common Stock on September 25, 2024, at prices ranging from $167.6658 to $173.49. The total sale value exceeded $1.7 million and was conducted under a pre-arranged Rule 10b5-1 plan.
Investors should pay attention to insider buying and selling 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 be an important factor to consider alongside other financial and market analyses when evaluating potential investment opportunities.
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