Top insider trades (Wed, Jan 7)

Connor’s Commentary

There were 277 new insider trades filed, but only ~10% of them were unscheduled, which is 3x below the average. There are a lot of 10b5-1 sales and tax sales.

For Premium subscribers, I added a new stock to the CEO Watcher portfolio and covered a pretty interesting dip buy that I ended up passing on.

• Director at Corpay (CPAY) bought $2.52M (first-ever purchase, after 24 straight sales). The purchase was almost a month ago, but the filing was delayed for some reason. Also, his first trade since 2015.

• A director at United Natural Foods (UNFI) bought $573k. It's the first insider purchase at $UNFI in nearly two years

• A director at Limoneira (LMNR) bought $254k of the stock. It's the first insider trade at $LMNR since 2023. The stock is down nearly 50% in the last year.

• SVP at Snowflake (SNOW) sold $2.6M (only 2nd ever sale). It wasn’t marked as a 10b5-1 sale, but they sold the exact same amount in October, so it may end up being a regular quarterly purchase.

• The COO at Gulfport Energy (GPOR) sold $2M of the stock, which decreased their listed holdings by 45%.

• An SVP at Analog Devices (ADI) sold $.278M of the stock. They've now sold the stock 3 times in the last quarter after going 5 years without selling.

• and more…

Commentary

Alumis (ALMS) popped nearly 100% yesterday after Phase 3 psoriasis trial results.

What’s notable for us is that back in November, a handful of directors started loading up on the stock. A few directors bought nearly $20M of the stock across 12 transactions as the stock ran from $5.50 to $12.

I noted this insider buying on Twitter because it was the first cluster of insider buying at the company. The only previous purchases were some preferred stock conversions during the IPO, and $2M of buying in the spring.

Unfortunately for me, I don’t pay much attention to the biotech space, so I didn’t realize they had Phase 3 trial readouts coming up. But this insider buying + price action in November/December certainly looks like some people had an inkling that the trial was going well.

Shoutout to “friendly gamer” in the Discord who has been paying more attention to the insider buying in biotech companies and made some money here.

keep scrolling. top trades + all of the charts and data below

🔒 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.