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This article summarizes the most significant insider buys and sells reported on Wednesday for US stocks.
Top Insider Buys:
Permian Resources Corp (NYSE:PR): Director Quinn William J made substantial purchases of the company’s Class A Common Stock. On March 3, Quinn acquired 500,000 shares at an average price of $13.0732 per share, followed by an additional 250,000 shares on March 4 at an average price of $12.3434 per share. The total value of these transactions amounted to $9,622,450. Quinn’s indirect ownership through Mail Holdings, L.P. now stands at 1,062,429 shares. Permian Resources, engaged in crude petroleum and natural gas production, boasts a strong financial health score and a P/E ratio of 8.05.
NewHold Investment Corp. III (NASDAQ:NHIC): NewHold Industrial Technology III LLC, a significant shareholder, acquired 552,600 Class A Ordinary Shares and 276,300 warrants in a private transaction. The purchase was made at $10.00 per unit, totaling approximately $5.53 million. This acquisition coincided with the completion of NewHold Investment Corp. III’s initial public offering, demonstrating the shareholder’s confidence in the company’s future prospects.
CVR Partners, LP (NYSE:UAN): Carl Icahn, a ten percent owner, purchased 10,024 common units over three consecutive days. The transactions occurred between March 3 and 5, with unit prices ranging from $72.16 to $74.97, totaling approximately $737,934. Icahn’s indirect ownership in CVR Partners now stands at 184,216 common units. The company, with a market cap of $795 million, currently offers a 9.31% dividend yield.
Fulgent Genetics, Inc. (NASDAQ:FLGT): CFO and Treasurer Paul Kim acquired 100,000 shares of common stock on March 5, totaling approximately $1.6 million. The shares were purchased at a weighted-average price of $15.96 each, with prices ranging from $15.48 to $16.60. Following this purchase, Kim’s direct ownership increased to 348,282 shares. The company maintains a strong balance sheet with more cash than debt.
Axos Financial, Inc. (NYSE:AX): Director Sara Wardell-Smith purchased 3,000 shares at an average price of $64.7345, totaling $194,203. The transaction took place on March 4 and increased Wardell-Smith’s direct ownership to 10,250 shares. Axos Financial, with a market cap of $3.67 billion, currently trades at a P/E ratio of 8.58 and is considered slightly undervalued by some analysts.
Top Insider Sells:
Taboola.com Ltd. (NASDAQ:TBLA): Apollo Management Holdings GP, LLC sold 988,296 non-voting ordinary shares at $4.32 per share, totaling approximately $4.27 million. The sale was part of a share repurchase agreement between Taboola and College Top Holdings, Inc., an entity associated with Apollo Management.
Warby Parker Inc. (NYSE:WRBY): Co-CEO David Abraham Gilboa sold shares netting $4.7 million, with prices ranging from $23.47 to $23.95 per share. The transactions were part of a Rule 10b5-1 trading plan. Warby Parker’s stock has delivered a 92% return over the past year.
Nutanix, Inc. (NASDAQ:NTNX): Director Max de Groen sold 5.5 million shares of Class A common stock at $74.51 per share, totaling approximately $409.8 million. Following the transaction, de Groen’s indirect ownership through BCPE Nucleon (DE) SPV, LP stands at 11,354,032 shares.
Tesla, Inc. (NASDAQ:TSLA): Director Robyn Denholm sold 112,990 shares, amounting to $33.67 million, with prices ranging from $292.75 to $303.588 per share. Denholm also exercised stock options to acquire 112,390 shares at $24.73 per share.
Elastic N.V. (NYSE:ESTC): CTO Banon Shay sold shares worth approximately $21.66 million between March 2 and March 4, with prices ranging from $104.51 to $114.23 per share. Shay retains indirect ownership of 2,254,978 shares through a fund for joint account.
Investors should stay tuned to insider buys and sells as they can provide valuable insights into a company’s prospects. While insider transactions alone should not be the sole basis for investment decisions, they can offer clues about management’s confidence in the company’s future performance and potential market trends. However, it’s essential to consider these transactions in conjunction with other fundamental and technical analysis factors before making any investment choices.
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