Top insider trades (Mon, Apr 20)

Connor’s Commentary

There were 198 new insider trades filed.

No insider trades were flagged as High Signal, but I highlighted two very interesting leveraged situations at Borr Drilling (BORR) and System1 (SST). System1 specifically is wildly risky, but the CFO is buying, and there is massive upside if they can refinance their 2027 debt wall. 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.

• Director (Troim Tor Olav) at Borr Drilling Ltd $BORR purchased $2.79M (largest purchase ever, out of 2). Rip Buy: the stock was up 115% in the previous 6 months. 1 other insider also purchased the stock in the last 30 days.

• Director (McCready Richard J) at Harrison Street Infrastructure Income Fund $VCRDX purchased $200.00K (first purchase of VCRDX).

• Chief Financial Officer at System1, Inc. $SST purchased $80.73K (first purchase of SST). This increased their listed holdings by 22%. Dip Buy: the stock was down -49% in the previous 3 months.

• Chief Executive Officer at Baozun Inc. $BZUN purchased $79.51K (largest purchase ever, out of 4). 1 other insider also purchased the stock in the last 30 days.

• 10% Owner (AQR Capital Management Holdings, LLC) at zSpace, Inc. $ZSPC purchased $61.11K (first purchase of ZSPC). This increased their listed holdings by 21%. Dip Buy: the stock was down -42% in the previous month.

• Director (FLUOR CORP) at NUSCALE POWER Corp $SMR sold $150.44M (4th largest sale, out of 10). This decreased their listed holdings by -48%. Rip Sell: the stock was up 29% in the previous week. 1 other insider also sold the stock in the last 30 days.

• Co-President at MORGAN STANLEY $MS sold $9.74M (largest sale ever, out of 15). This decreased their listed holdings by -15%. Rip Sell: the stock was up 21% in the previous month. 2 other insiders also sold the stock in the last 30 days.

• Hd of Ent Svc & Public Affairs at CITIGROUP INC $C sold $3.29M (largest sale ever, out of 2). This decreased their listed holdings by -12%. Rip Sell: the stock was up 22% in the previous month. Their last sale was 422 days ago. 1 other insider also sold the stock in the last 30 days.

• Chief Client Officer at MORGAN STANLEY $MS sold $3.04M (largest sale ever, out of 7). This decreased their listed holdings by -20%. Rip Sell: the stock was up 21% in the previous month. 2 other insiders also sold the stock in the last 30 days.

• Director (SLAYEN HOWARD T) at AEHR TEST SYSTEMS $AEHR sold $2.12M (largest sale ever, out of 14). This decreased their listed holdings by -12%. Rip Sell: the stock was up 128% in the previous month. 10 other insiders also sold the stock in the last 30 days.

• CHIEF ACCOUNTING OFFICER at CITIGROUP INC $C sold $1.68M (2nd largest sale, out of 9). This decreased their listed holdings by -11%. Rip Sell: the stock was up 22% in the previous month. 1 other insider also sold the stock in the last 30 days.

• Chief Legal Officer, Secretary at Credo Technology Group Holding Ltd $CRDO sold $1.64M (largest sale ever, out of 9). Rip Sell: the stock was up 38% in the previous month. 4 other insiders also sold the stock in the last 30 days.

• EVP, General Counsel & Sec. at PVH CORP. /DE/ $PVH sold $642.50K (3rd largest sale, out of 43). This decreased their listed holdings by -24%. Rip Sell: the stock was up 38% in the previous month. Their last sale was 472 days ago.

• Director (Lee Kang Jyh) at PHOTRONICS INC $PLAB sold $451.00K (7th largest sale, out of 38). Rip Sell: the stock was up 32% in the previous month. 6 other insiders also sold the stock in the last 30 days. Appears to be regularly scheduled weekly transaction.

• Director (Tweedy Jeffrey C.) at Academy Sports & Outdoors, Inc. $ASO sold $240.00K (largest sale ever, out of 9). This decreased their listed holdings by -33%. Their last sale was 575 days ago.

• Director (Johnson Devin C) at PROGRESSIVE CORP/OH/ $PGR sold $199.04K (2nd largest sale, out of 4). This decreased their listed holdings by -10%. Their last sale was 386 days ago. 1 other insider also sold the stock in the last 30 days.

• and more…

The rest of this email is for premium subscribers only.

CEO Watcher Premium

The rest of this email (including today’s top insider trades + all the charts and data) is for CEO Watcher Premium subscribers only. To see an example of the Premium email, click here.

Upgrade to CEO Watcher Premium at ceowatcher.com to unlock:

• The Premium daily emails

• Full access to the website, which has all insider trades back to 2009. It includes search/filters and the returns of every trade and every insider to help you find the top insider trades

• Full access to the CEO Watcher Premium Discord where I share my notes and holdings in the CEO Watcher Portfolio

• The Premium Dashboard, which has a bunch of charts/tables with insider trading data that is updated each day

If CEO Watcher Premium is not for you, I give full refunds with no questions asked.