Streetbeat News

Insider Trading

BABA

Alibaba co-founders Jack Ma and Joe Tsai have collectively purchased over $200 million in Alibaba shares, with Tsai's entity Blue Pool acquiring nearly 2 million depository shares and Ma buying $50 million worth of Hong Kong stock. This activity has led to a 6% pre-market increase in Alibaba's stock. The company has faced challenges, including a canceled spinoff of its cloud business and regulatory pressures, which have resulted in a 21% stock decline since the canceled spinoff. Alibaba's market cap is over $174 billion.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 3:42 pm

AGYS

Ramesh Srinivasan, President and CEO of Agilysys, has indicated his intention to adopt a stock trading plan, with plans to sell up to 300,000 shares of Agilysys common stock. The majority, if not all, of these shares are expected to be issued upon his exercise of stock-settled appreciation rights, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:51 pm

AMZN

CMC

HSY

Insiders at Amazon, Zoom Video, Commercial Metals, and Hershey Company have recently sold shares. Amazon's CEO of AWS sold 1,000 shares, while a Benchmark analyst raised Amazon's price target. Zoom Video's COO sold 19,207 shares, amid a downgrade by Exane BNP Paribas. Commercial Metals' Executive Chairman sold 57,194 shares, following an increase in the share repurchase program. Hershey's President of U.S. Confection sold 2,065 shares, as Barclays lowered its price target.

Portfolio Pulse from Avi Kapoor

January 23, 2024 | 12:44 pm

BANF

FBK

MLI

WMPN

Insiders at FB Financial, Mueller Industries, BancFirst, and William Penn Bancorporation have recently made notable stock purchases. FB Financial's 10% owner bought shares at $35.50 each after a downgrade by Hovde Group. Mueller Industries' director acquired shares at $28.68 each following a downgrade by Northcoast Research. BancFirst's EVP purchased shares at $92.60 each after the company posted upbeat quarterly earnings. William Penn Bancorporation's director bought shares at $12.35 each, with Piper Sandler maintaining an Overweight rating and raising the price target.

Portfolio Pulse from Avi Kapoor

January 23, 2024 | 11:06 am

ALIT

VTRS

David Einhorn's Greenlight Capital has built new long positions in Alight, Inc. (ALIT) and Viatris Inc. (VTRS), as revealed in the firm's quarterly letter, which traders are actively circulating.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 4:15 pm

OLB

OPK

TGEN

Insiders at OLB Group, OPKO Health, and Tecogen have recently made significant stock purchases. OLB Group's CEO and VP acquired shares at $0.77, while OPKO Health's 10% owner bought shares at $0.98. Tecogen's director purchased shares at $0.73. These transactions may signal insider confidence despite OLB Group's wider-than-expected quarterly loss and OPKO Health's recent convertible notes offering. Tecogen announced a new order for its Tecochill unit.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 1:29 pm

COIN

QCOM

USB

Insiders at Goldman Sachs, QUALCOMM, U.S. Bancorp, and Coinbase Global have recently sold shares of their companies. Goldman Sachs is expanding its asset and wealth management divisions, while QUALCOMM received a price target increase from Canaccord Genuity. U.S. Bancorp reported Q4 revenue that missed analyst expectations, and Coinbase's price target was raised by Citigroup. Insider sales can indicate various sentiments and should not be the sole basis for investment decisions.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 12:25 pm

AXR

KALV

PBF

TALO

Insiders at Talos Energy, PBF Energy, AMREP, and KalVista Pharmaceuticals have made significant stock purchases. Talos Energy's 10% owner bought shares worth $230 million, while PBF Energy's 10% owner purchased $20.78 million in stock. AMREP's 10% owner acquired shares for $153,384, and KalVista Pharmaceuticals' 10% owner invested $1.8 million. These transactions may indicate insider confidence despite varying company news, such as Talos Energy's public offering, a downgrade for PBF Energy, a sales decline for AMREP, and new research publication for KalVista Pharmaceuticals.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 11:41 am

AMZN

Amazon Web Services (AWS) plans to invest approximately $15.5 billion in Japan from 2023 to 2027 to expand data centers and operations. This investment aims to capitalize on the increasing volume of data processed due to the AI boom. AWS has previously invested 1.51 trillion yen in Japan over 12 years. The new investment in Japan will surpass the planned investment in India. John Felton has been appointed as the new CFO of AWS, succeeding Richard Puccio. Despite AWS's slower growth due to economic uncertainty, Amazon has had a significant year with initiatives in robotics, AI, and custom silicon chips, alongside workforce downsizing across various units. Amazon's stock rose 64% last year but is slightly down in the latest trading session.

Portfolio Pulse from Anusuya Lahiri

January 19, 2024 | 3:45 pm

ADMQ

TLRY

VTAK

Insiders at Catheter Precision, ADM Endeavors, and Tilray Brands have recently purchased shares of their respective companies, signaling potential confidence in their company's prospects. Catheter Precision's VIVO System was featured in a case study, ADM Endeavors' stock has risen 38% over the past month, and Tilray Brands entered into an agreement with Double Diamond Holdings.

Portfolio Pulse from Avi Kapoor

January 19, 2024 | 2:33 pm