This article summarizes the most significant insider buying and selling activities for US stocks on Tuesday, October 29, 2024.
Top Buys:
• Ibotta, Inc. (NASDAQ:IBTA): D. E. Shaw & Co., L.P., a prominent investment firm, acquired shares of Ibotta totaling approximately $775,443. The purchases occurred over several transactions on October 25 and 28, 2024, with prices ranging from $72.62 to $75.53 per share. These acquisitions have increased D. E. Shaw's holdings in the Denver-based company, which operates in the advertising services sector.
• Ingram Micro Holding Corp (NASDAQ:INGM): Christian Cook, a director at Ingram Micro Holding Corp, purchased 46,000 shares on October 25 at a price of $22.00 per share, totaling approximately $1.01 million. This transaction brings Cook's total direct ownership to 46,000 shares, potentially signaling confidence in the company's future prospects.
• Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF): Jeffrey R. Geygan, the Interim CEO, acquired a total of 48,307 shares over two days, with a total transaction value of approximately $140,135. On October 28, Geygan purchased 6,244 shares at a weighted average price of $2.9942 per share, followed by an additional 42,063 shares at a weighted average price of $2.8871 per share on October 29. These transactions increased his total holdings to 1,880,737 shares.
• Orrstown Financial Services Inc. (NASDAQ:ORRF): Cindy Jeannette Joiner, a director at Orrstown Financial Services, acquired 221 shares of the company's common stock on October 25, 2024. The purchase was executed at a price of $37.83 per share, amounting to a total transaction value of $8,360. Following this acquisition, Joiner holds a total of 22,063 shares directly.
Top Sells:
• Palantir Technologies Inc . (NYSE:NYSE:PLTR): Alexander C. Karp, CEO of Palantir Technologies, sold shares over three days, totaling approximately $254 million. The sales were executed as part of a preexisting Rule 10b5-1 trading plan. On October 25, Karp sold 1,706,841 shares at an average price of $45.0062, followed by a sale of 3,337,048 shares on October 28 at an average price of $45.0168, and finally 612,404 shares on October 29 at an average price of $45.0177.
• Bowhead Specialty Holdings Inc. (NASDAQ:BOW): Matthew Botein, a director, sold 3,178,662 shares of the company's common stock at a net price of $27.695 per share, totaling approximately $88.03 million. This transaction was part of an underwritten public offering, which included the exercise of an over-allotment option by the underwriters.
• Altice USA, Inc. (NYSE:ATUS): Next Alt S.a.r.l., the personal holding company of Patrick Drahi, disposed of a total of 805,227 shares of Altice USA's Class A common stock on October 28. The shares were sold at prices ranging from $23.3164 to $25.6836, resulting in a total transaction value of approximately $19.7 million.
• Ingram Micro Holding Corp (NASDAQ:INGM): Platinum Equity, LLC, a significant stakeholder, sold 7 million shares of the company's common stock at a price of $22.00 each, amounting to a total value of $154 million. Following this sale, Platinum Equity retains ownership of approximately 213.7 million shares in the company.
Investors should stay tuned to insider buying and selling activities as they can provide valuable insights into a company's health and future prospects. While insider trades alone should not be the sole basis for investment decisions, they can be an important factor to consider alongside other financial and market indicators. It's crucial to remember that insiders may have various reasons for buying or selling shares, and these transactions should be viewed in the context of broader market trends and company-specific news.
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