Top insider trades (Fri, Apr 17)

Connor’s Commentary

There were 180 new insider trades filed.

No insider trades were flagged as High Signal, but I shared my notes on Gloo Holdings (GLOO). CEO Watcher Premium subs can see those in the Trade Notes section of this email (just scroll down).

As a reminder, if you upgrade to CEO Watcher Premium (link) and find that it isn’t for you, I’ll give you a refund.

• 10% Owner (DART KENNETH BRYAN) at Flutter Entertainment plc $FLUT purchased $7.98M (first purchase of FLUT). Dip Buy: the stock was down -46% in the previous 3 months. This insider has purchased the stock 16 times in the last 30 days.

• Director (STROME MARK E) at HeartBeam, Inc. $BEAT purchased $600.00K (first purchase of BEAT). This increased their listed holdings by 25%. Dip Buy: the stock was down -34% in the previous month. 7 other insiders also purchased the stock in the last 30 days. Is part of a public offering.

• Pat Gelsinger (Head of Tech) at Gloo Holdings, Inc. $GLOO purchased $264.63K (3rd largest purchase, out of 24). 1 other insider also purchased the stock in the last 30 days.

• President and CEO at Gloo Holdings, Inc. $GLOO purchased $198.00K (first-ever purchase). 1 other insider also purchased the stock in the last 30 days.

• Director (Garcia Dominic Jerome) at Cascade Private Capital Fund $CPEFX purchased $192.43K (first purchase of CPEFX). This increased their listed holdings by 34%. 1 other insider also purchased the stock in the last 30 days.

• Director (Rudy Mitchell Austin) at BONK, INC. $BNKK purchased $87.58K (first purchase of BNKK). Dip Buy: the stock was down -31% in the previous 3 months.

• EVP - Chief People Officer at FEDEX CORP $FDX sold $6.16M (largest sale ever, out of 2). This decreased their listed holdings by -38%. Rip Sell: the stock was up 56% in the previous 6 months. Their last sale was 737 days ago. 4 other insiders also sold the stock in the last 30 days.

• EVP, Worldwide Sales at MICRON TECHNOLOGY INC $MU sold $1.48M (3rd largest sale, out of 55). Rip Sell: the stock was up 29% in the previous 3 months. 2 other insiders also sold the stock in the last 30 days.

• Director (POSEDEL RHEA J) at AEHR TEST SYSTEMS $AEHR sold $1.21M (6th largest sale, out of 27). Rip Sell: the stock was up 92% in the previous month. 9 other insiders also sold the stock in the last 30 days.

• EVP of Strategic&Legal Affairs at IDT CORP $IDT sold $1.02M (largest sale ever, out of 2). This decreased their listed holdings by -36%. Their last sale was 541 days ago. 2 other insiders also sold the stock in the last 30 days.

• SVP/COO IC & US/EU Mnstrm Ops at PHOTRONICS INC $PLAB sold $872.02K (largest sale ever, out of 4). This decreased their listed holdings by -14%. Rip Sell: the stock was up 29% in the previous month. 6 other insiders also sold the stock in the last 30 days. Appears to be regularly scheduled weekly transaction.

• Chief People and MKT Officer at Itau Unibanco Holding S.A. $ITUB sold $469.00K (first-ever sale). Rip Sell: the stock was up 15% in the previous month. 1 other insider also sold the stock in the last 30 days.

• Director (OLIPHANT LAURA) at AEHR TEST SYSTEMS $AEHR sold $399.27K (2nd largest sale, out of 14). This decreased their listed holdings by -20%. Rip Sell: the stock was up 92% in the previous month. 9 other insiders also sold the stock in the last 30 days.

• VP Exec Officer at Banco Santander (Brasil) S.A. $BSBR sold $325.60K (first sale of BSBR). This decreased their listed holdings by -54%. Rip Sell: the stock was up 10% in the previous month. 8 other insiders also sold the stock in the last 30 days.

• Chief Financial Officer at IDT CORP $IDT sold $252.50K (3rd largest sale, out of 10). 2 other insiders also sold the stock in the last 30 days.

  COO at Star Bulk Carriers Corp. $SBLK sold $250.42K (first-ever sale).

• and more…

Commentary

After 6 months of chop and a 10% decline due to the Iran war, the market only took 2 weeks to fully recover and reach an all-time high.

Is the market broken, or just more efficient?

That’s for you to decide.

CEO Watcher Portfolio

Like most portfolios, the CEO Watcher Portfolio had a pretty good week. It outperformed the S&P by 2.2 points (5.49% v 3.29%).

Since starting the portfolio on October 31st, it has outperformed the S&P by just over 6 points (8.24% v 2.19%).

As a reminder, this includes a 5% loss caused by user error from two weeks ago: I accidentally placed a pre-market trade in the CEO Watcher account that was meant for my personal account. By the time I realized it and sold the stock, it had lost a little over $500 due to a poor pre-market fill and a price drop at the market open.

If you exclude that, the outperformance is ~11 points.

High Signal List

The CEO Watcher High Signal List also had a pretty good week.

Only two additions to the list this week, but the average 7d returns for the stocks on the list was 5.15% (v 3.45% for the S&P).

76% of the stocks were positive, and 55% beat the S&P. Not bad for a list with 151 stocks on it.

Overall, the average stock on the High Signal List has outperformed the S&P 9.31% v 3.57% since the list was started in September.

The S&P

The S&P is back up and running.

The market never really seemed to care that much about the Iran War, and once the ceasefire agreement gave it the green light, the S&P took off and hasn’t looked back.

I have to imagine we get at least a little pullback soon, as the S&P has shot above all its moving averages (and hit an all-time high).

But the downtrend is very clearly broken for now.

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