Top insider trades (Mon, Aug 10)

Connor’s Commentary

Sprout Social (SPT), a CEO Watcher Portfolio position (and a position in my personal portfolio), reported strong earnings on Friday and shot up 25%.

It’s now up over 50% since we added it to the CEO Watcher Portfolio.

We were a couple of months early in buying software in the CEO Watcher Portfolio, but we are now up an average of 46% across the 9 software stocks in the portfolio.

As is common, the software insiders were correct in identifying that their companies were undervalued (software was the industry with the most above-average insider buying in Q1), but they were a little early in identifying when the market would agree.

Today’s Largest Unscheduled Trades

There were 229 new insider trades filed.

1 insider trade was flagged as High Signal and added to the CEO Watcher Portfolio.

Our system gave high scores to 2 insider purchases (I shared our system’s notes on those in the High Scoring Purchases - Quick Notes).

We also found 1 insider purchase from an insider who averages 20%+ 1y returns.

CEO Watcher Premium subs can see those notes in later sections of this email.

Today’s largest unscheduled insider trades:

• 10% Owner (DART KENNETH BRYAN) at Flutter Entertainment plc $FLUT purchased $157.66M. Dip Buy: the stock was down -69% in the previous year. This insider has purchased the stock 3 times in the last 30 days. Is part of a dividend reinvestment.

• Director (Mateen Justin) at American Bitcoin Corp. $ABTC purchased $1.93M (largest purchase ever, out of 2). This increased their listed holdings by 165%. Dip Buy: the stock was down -64% in the previous 3 months.

• Director (Kosasa Thomas) at OneMedNet Corp $ONMD purchased $1000.00K. Dip Buy: the stock was down -33% in the previous 3 months.

• Executive Chairman at American Assets Trust, Inc. $AAT purchased $816.77K (83rd largest purchase, out of 194).

• Director (HOVDE STEVEN D) at COASTAL FINANCIAL CORP $CCB purchased $658.25K (6th largest purchase, out of 27). Dip Buy: the stock was down -41% in the previous month. Reversal: they made 6 straight sales before this purchase. Their last purchase was 1242 days ago. 2 other insiders also purchased the stock in the last 30 days.

• Director (Griege Charles William Jr.) at GBank Financial Holdings Inc. $GBFH purchased $525.67K (3rd largest purchase, out of 3). Dip Buy: the stock was down -33% in the previous month. 4 other insiders also purchased the stock in the last 30 days.

• CEO at COASTAL FINANCIAL CORP $CCB purchased $444.50K (first-ever purchase). Dip Buy: the stock was down -41% in the previous month. Reversal: they made 37 straight sales before this purchase. 2 other insiders also purchased the stock in the last 30 days.

• 10% Owner (DONEGAL MUTUAL INSURANCE CO) at DONEGAL GROUP INC $DGICA purchased $354.06K (83rd largest purchase, out of 291).

• Director (Habiger David C) at BOSTON SCIENTIFIC CORP $BSX purchased $99.94K (6th largest purchase, out of 19). This increased their listed holdings by 13%. Dip Buy: the stock was down -35% in the previous 6 months. 2 other insiders also purchased the stock in the last 30 days.

• Director (TABACCO JOSEPH J JR) at BED BATH & BEYOND, INC. $BBBY purchased $91.40K (9th largest purchase, out of 11). 2 other insiders also purchased the stock in the last 30 days.

• 10% Owner (GIC Private Ltd) at Medline Inc. $MDLN sold $79.97M (13th largest sale, out of 28). Reversal: they made 1 straight purchases before this sale.

• 10% Owner (Tractors & Farm Equipment Ltd) at AGCO CORP /DE $AGCO sold $56.79M (largest sale ever, out of 2). 1 other insider also sold the stock in the last 30 days.

• President & CEO at AGILYSYS INC $AGYS sold $21.29M (largest sale ever, out of 12). This decreased their listed holdings by -22%. Rip Sell: the stock was up 47% in the previous 3 months. Their last sale was 695 days ago.

• 10% Owner (Equinox Partners Investment Management LLC) at GRAN TIERRA ENERGY INC. $GTE sold $15.39M (first-ever sale). This decreased their listed holdings by -25%. Rip Sell: the stock was up 51% in the previous month. Reversal: they made 16 straight purchases before this sale.

• 10% Owner (ISQ Global Fund II GP LLC) at Kinetik Holdings Inc. $KNTK sold $13.33M (7th largest sale, out of 8). This decreased their listed holdings by -13%.

• CEO and Chairman of the Board at JOHNSON & JOHNSON $JNJ sold $12.52M (3rd largest sale, out of 5). This decreased their listed holdings by -13%. Rip Sell: the stock was up 53% in the previous year. 2 other insiders also sold the stock in the last 30 days.

• President at Global Business Travel Group, Inc. $GBTG sold $6.44M (first-ever sale). This decreased their listed holdings by -49%. Rip Sell: the stock was up 68% in the previous 6 months. 1 other insider also sold the stock in the last 30 days.

• EVP, Chief Legal Officer at JOHNSON & JOHNSON $JNJ sold $4.09M (first-ever sale). This decreased their listed holdings by -48%. Rip Sell: the stock was up 53% in the previous year. 2 other insiders also sold the stock in the last 30 days.

• Director (Rutten Guillaume Marie Jean) at AMKOR TECHNOLOGY, INC. $AMKR sold $2.75M (2nd largest sale, out of 53). Rip Sell: the stock was up 138% in the previous year. 3 other insiders also sold the stock in the last 30 days.

• EVP, Access, Policy & Comms at Merck & Co., Inc. $MRK sold $1.97M (2nd largest sale, out of 5). This decreased their listed holdings by -24%. Rip Sell: the stock was up 65% in the previous year. 2 other insiders also sold the stock in the last 30 days.

• President, Olive Garden at DARDEN RESTAURANTS INC $DRI sold $1.85M. This decreased their listed holdings by -31%. 5 other insiders also sold the stock in the last 30 days.

• EVP & Chief Dev. Officer at BJs RESTAURANTS INC $BJRI sold $1.49M (3rd largest sale, out of 14). This decreased their listed holdings by -46%. Rip Sell: the stock was up 70% in the previous 3 months. 1 other insider also sold the stock in the last 30 days.

• EVP, Real Estate & Bus. Dev. at KB HOME $KBH sold $1.29M (9th largest sale, out of 12). This decreased their listed holdings by -17%. 3 other insiders also sold the stock in the last 30 days.

• Director (Volpi Michelangelo) at Aurora Innovation, Inc. $AUR sold $1.27M (42nd largest sale, out of 54). Rip Sell: the stock was up 58% in the previous 6 months.

• and more…

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