Streetbeat News

Insider Trading

MLTX

SMPL

WBA

Insiders at MoonLake Immunotherapeutics, The Simply Good Foods Company, and Walgreens Boots Alliance have recently made notable purchases of their companies' stocks. MoonLake's 10% owner Bihua Chen acquired 800,000 shares, costing around $40 million. Simply Good Foods' President and COO Geoff E Tanner bought 6,850 shares, costing around $250,758. Walgreens Boots Alliance's EVP, Pres. U.S. Healthcare John Driscoll purchased 5,172 shares, costing around $146,984.

Portfolio Pulse from Lisa Levin

July 06, 2023 | 12:58 pm

GOOG

PANW

SNAP

Insiders at Alphabet Inc., Palo Alto Networks, Snap Inc., and ON Semiconductor have recently sold shares. The reasons for these sales are not clear, but they could be due to preplanned sales or concerns about the companies' prospects. These sales should not be the sole indicator for investment decisions, but they can lend conviction to a selling decision.

Portfolio Pulse from Lisa Levin

July 06, 2023 | 12:12 pm

TSLA

Tesla's CFO, Zachary Kirkhorn, sold $1M worth of company stock ahead of Q2 results. This is part of a series of sales he has made over the past three months, totaling $4.076M. The sales were made in accordance with the 10b5-1 rule of the SEC. Tesla's stock fell 0.73% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

July 06, 2023 | 11:39 am

CURO

HOOK

PHIO

Insiders at CURO Group Holdings Corp. (CURO), HOOKIPA Pharma Inc. (HOOK), and Phio Pharmaceuticals Corp. (PHIO) have recently made significant share purchases. CURO's CEO bought 20,000 shares at an average price of $1.39, HOOK's CEO acquired 5,000 shares at $0.89 each, and PHIO's President and CEO purchased 2,000 shares at $2.86 each. These transactions may indicate the insiders' confidence in their companies' prospects.

Portfolio Pulse from Lisa Levin

July 06, 2023 | 11:29 am

TSLA

Elon Musk confirmed that Bill Gates had a short position on Tesla (TSLA) stock. Despite Tesla's shares falling over 60% in 2022, an investor who bet against Gates and invested $1,000 in Tesla when Musk revealed Gates' short position would have seen a 4.3% return, with the investment worth $1,043.27 today. The return could have been as high as 53.3% if the investment was timed correctly.

Portfolio Pulse from Chris Katje

July 05, 2023 | 6:27 pm

GME

WMT

Insiders at Walmart Inc (NYSE:WMT) have sold over $15 billion worth of shares in the first half of 2023, raising questions about the company's future. In contrast, insiders at GameStop Corp (NYSE:GME), including Executive Chairman Ryan Cohen, have been buying millions of dollars' worth of shares, indicating confidence in the company's prospects.

Portfolio Pulse from Kevin Malone

July 05, 2023 | 2:13 pm

DWAC

Digital World Acquisition Corp (DWAC), the financial firm linked to Donald Trump’s Truth Social platform, has reached an $18m settlement with the Securities and Exchange Commission (SEC) to end the investigation into its merger with the company. The settlement allows DWAC to proceed with the merger, turning Truth Social into a public company. This news follows the indictment of three individuals involved in the merger for insider trading.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 1:02 pm

BDTX

HCSG

NHC

Insider trades were noted in three US stocks: Black Diamond Therapeutics, Inc. (BDTX), National HealthCare Corporation (NHC), and Healthcare Services Group, Inc. (HCSG). BB Biotech AG, a 10% owner of BDTX, acquired 1,000,000 shares at an average price of $5.00. Richard F. Laroche Jr., a director at NHC, acquired 2,100 shares at an average price of $61.40. Kurt Simmons Jr, a director at HCSG, bought 1,005 shares at an average price of $14.93.

Portfolio Pulse from Lisa Levin

July 05, 2023 | 12:53 pm

CMC

PGTI

SNOW

Insiders at Commercial Metals Company (CMC), Snowflake Inc. (SNOW), Quanex Building Products Corporation (NX), and PGT Innovations, Inc. (PGTI) have recently sold significant amounts of shares. While insider sales can sometimes indicate concern about a company's prospects, they can also be part of a preplanned sale. Each of these companies has had recent notable events, such as better-than-expected results or new partnerships.

Portfolio Pulse from Lisa Levin

July 05, 2023 | 12:31 pm

TRNR

Bradley Wickens, a notable hedge fund manager and founder of Broad Reach Investment Management, has increased his stake in Interactive Strength Inc. (NASDAQ:TRNR), a premium digital smart home fitness company. Wickens, who started with a 10% ownership stake, has made a series of purchases since the company's IPO in May, recently acquiring 20,000 shares at an average price of $5.71. This insider buying is often viewed as a positive sign for the company's future growth and share price. Another UK-based investment firm, Block.one, also recently purchased TRNR shares.

Portfolio Pulse from shashankjacob@benzinga.com

July 05, 2023 | 12:00 pm