Corporate insiders include the senior officers, directors and beneficial owners of a publicly traded company and are involved with the management and control of the business.
There are many legitimate reasons why corporate insiders buy and sell shares in the companies they are involved in. Whether they want to free up some extra cash or believe that the company is undervalued, analyzing their actions could be a powerful tool for external investors when deciding on what to invest in.
Corporate insiders have access to material, non-public information, so these people in the know need to disclose any trades to level the playing field. Therefore, following the actions of these highly informed shareholders could offer some valuable insights into the general sentiment within the company.
Here are some of the recent corporate insider activity that has been identified using TipRanks’ Insider’s Hot Stocks tool.
Texas Instruments’ (TXN) CEO and President Richard Templeton sold a net total of 334,584 shares at an average price of $168.30 for a cumulative value of $56.31 million. This brings the value of his 0.6% stake in the company to $98.39 million, based on the most recent closing price of $172.46. Meanwhile, Senior Vice President Julie Van Haren also sold 23,733 shares to the value of $4.03 million, leaving her with 23,781 shares of common stock. TXN has gained just over 5% in value since the beginning of the year.
Executive Vice President of Microsoft (MSFT), Jean-Philippe Courtois, sold $4.3 million worth of MSFT shares last week following the release of its better-than-expected Q2 results (ending Dec.31, 2020). This brings Courtois’ current holding in the company to 900,697 shares, which is valued at almost $216 million based on MSFT’s most recent close of $239.65. Shares of the technology giant have gained around 8% since the beginning of the year and are currently trading at record highs.
Privately owned hedge fund sponsor Perceptive Advisors LLC has been active over the past few weeks, adding to their growing portfolio of equity investments. Last week, the company bought 4.2 million additional shares of Vyne Therapeutics (VYNE) for $2.37 a share. The $10 million purchase increased Perceptive’s ownership stake in Vyne to over 27 million shares, valued at just over $68 million. Vyne is up around 62% year-to-date, based on its most recent closing price of $2.52.
Following the announcement of the pricing of a public offering by Athira Pharma (ATHA), Director and 10% owner, Perceptive Advisors LLC, added 311,111 shares at the offer price of $22.50 to its stake, for a total of around $7 million last week. This brings Perceptive Advisors’ total stake to 3.42 million shares. Athira’s stock price has gained 4.6% in value over the past week but is down 37% year-to-date.
Perceptive Advisors LLC also added 1,368,421 shares of Aldeyra Therapeutics (ALDX) to its current holdings at an average price of $9.50. The acquisition, which totaled around $13 million, brings Perceptive’s total holding to over 8.7 million shares, representing 19% of the shares in issue. ALDX shares have gained 61% since the beginning of the year.
China Grand Pharmaceutical & Healthcare Holdings Ltd bought over 3.3 million additional shares in biotech company OncoSec Medical (ONCS), taking its total stake in the company to over 43%. The shares were bought at an average price of $5.45 per share. The most recent close of $7.64 means that OncoSec’s shares have gained over 18% in value since the beginning of the year.