This article summarizes the top insider buying and selling activity reported for US stocks on Monday, September 30, 2024.
Top Insider Buys:
• Viridian Therapeutics, Inc. (NASDAQ:VRDN) saw President and CEO Stephen F. Mahoney make a substantial investment in the company’s stock. Mahoney purchased 21,400 shares for $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 company. Following the transaction, Mahoney now directly owns 21,400 shares, reinforcing his vested interest in the company’s success.
• Armada Hoffler Properties, Inc. (NYSE:) 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, which all occurred 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 increased to 266,647 shares. These significant investments by key insiders reflect a strong belief in the real estate company’s prospects.
• Cantaloupe Inc. (NASDAQ:CTLP) director Douglas Bergeron made a series of purchases totaling more than $2.1 million. Bergeron acquired 13,866 shares for $7.15 each on September 26, followed by 234,134 shares and 36,000 shares on September 27 and 30, respectively. Prices for these later trades ranged from $7.23 to $7.53, with a weighted average price of $7.41. This substantial investment reflects Bergeron’s positive view of Cantaloupe’s future.
Top Insider sells:
• Janux Therapeutics, Inc. (NASDAQ:JANX) saw significant stock selling 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
• Palo Alto Networks Inc. (NYSE:NASDAQ:) reported a major transaction involving Executive Vice President and Chief Technology Officer Nir Zuk. Zuk sold shares in excess of $12.9 million on September 3, 2024, under a prearranged trading plan on Rule 10b5-1. This type of plan allows company insiders to set up predetermined stock sales to avoid potential insider trading concerns.
• Dell Technologies Inc. (NYSE:NYSE:) CEO Michael S. Dell sold 10,000,000 shares of Class C common stock for $122.4 per share on September 26, 2024. This transaction, valued at over $1.2 billion, represents a significant reduction in Dell’s stock. , although after the sale he still owns 16,912,241 shares.
• Walmart Inc. (NYSE:NYSE:) President and CEO C. Douglas McMillon sold 29,124 shares on September 26 at a weighted average price of $80.6426, raising approximately $2.35 million. This sale was conducted under a prearranged trading plan on Rule 10b5-1, which was disclosed in a Form 8-K filed on February 24, 2023.
• Coinbase (NASDAQ:) 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 sales value exceeded $1.7 million and was executed under a prearranged 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 analysis when evaluating potential investment opportunities.
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