Insider Activity Recap: Monday's Notable Buys and Sells in US Stocks

This article summarizes the most significant insider buys and sells reported for US stocks on Monday, December 16, 2024.

Top Insider Buys:

Mountain Lake Acquisition Corp. (NASDAQ:MLAC):

Mountain Lake Acquisition Sponsor LLC, a significant stakeholder in Mountain Lake Acquisition Corp., made notable transactions in the company's stock. The sponsor acquired 495,000 Class A ordinary shares on December 16, 2024, at a total purchase price of $4.95 million. This acquisition reflects the purchase of private units at $10.00 per unit, which include both Class A ordinary shares and rights. Additionally, the sponsor received 359,375 Class B ordinary shares as bonus shares on December 12, 2024, but later forfeited the same number of shares due to the underwriters only partially exercising the over-allotment option.

Ouster, Inc. (NYSE:OUST):

Ouster, Inc.'s President and CEO Charles Angus Pacala made a significant stock purchase on December 12, acquiring 50,954 shares of common stock valued at approximately $498,971. The shares were purchased at a weighted average price ranging from $9.49 to $10.00 per share. This transaction increased Pacala's direct ownership to 769,957 shares. The company has delivered a strong 22% year-to-date return, despite its current market capitalization of $452 million.

Nerdy Inc. (NYSE:NRDY):

Charles K. Cohn, the Chief Executive Officer of Nerdy Inc., executed a significant purchase of the company's Class A Common Stock. Cohn acquired 300,000 shares at a weighted average price of $1.61 per share, totaling approximately $483,000. The transactions were conducted through family trusts on December 12, 2024. Following these transactions, Cohn's direct and indirect holdings have increased substantially, with direct ownership now including 9,258,298 shares and indirect holdings amounting to over 38 million shares.

FREYR Battery, Inc. (NYSE:FREY):

Joseph Evan Calio, the Chief Financial Officer of FREYR Battery, Inc., made significant purchases of the company's stock. Calio acquired a total of 549,862 shares over three transactions conducted on December 12, 13, and 16, 2024, at prices ranging from $1.57 to $1.74 per share, amounting to a total investment of approximately $903,276. Following these transactions, Calio's direct ownership in FREYR Battery stands at 680,462 shares.

Tidewater Inc. (NYSE:TDW ):

Quintin Kneen, the Director, President, and CEO of Tidewater Inc., acquired 41,615 shares of common stock on December 13. The shares were bought at a weighted average price of $48.0577, amounting to a total value of approximately $1.99 million. This acquisition increases Kneen's direct ownership to 176,239 shares.

Top Insider Sells:

Loar Holdings Inc. (NASDAQ:LOAR):

Paul S. Levy, a director and ten percent owner of Loar Holdings Inc., sold 251,616 shares at an average price of $81.175 per share, totaling approximately $20.4 million. The shares were sold indirectly through GPV Loar LLC, of which Levy is the sole manager. Following this transaction, GPV Loar LLC holds 9,357,002 shares of Loar Holdings.

Sweetgreen, Inc. (NYSE:SG):

Nicolas Jammet, Chief Concept Officer and director at Sweetgreen, Inc., sold 170,199 shares of the company's Class A common stock at a price of $37.73 per share, amounting to a total transaction value of approximately $6.42 million. The sale was executed as part of a mandated transaction to cover tax withholding obligations under Sweetgreen's equity incentive plans.

Palantir Technologies Inc . (NYSE:NASDAQ:PLTR ):

David A. Glazer, Chief Financial Officer and Treasurer of Palantir Technologies Inc., executed a series of stock transactions on December 12, 2024. Glazer exercised options to acquire 315,126 shares of Class A Common Stock at $4.72 per share and subsequently sold the same number of shares in multiple open market transactions, generating approximately $23.1 million. The shares were sold at prices ranging from $72.63 to $75.19.

Vertex (NASDAQ:VRTX ), Inc. (NASDAQ:VERX):

Jeffrey Westphal, associated with Vertex, Inc., sold 575,000 shares of Class A Common Stock at a price of $53.01 each, amounting to a total of approximately $30.48 million. The transaction was conducted through the 2009 Jeffrey R. Westphal Generation Skipping Trust, which now holds no shares following the sale.

Staying informed about insider transactions is crucial for investors as it can provide valuable insights into a company's internal perspective. While insider buying may signal confidence in the company's future prospects, insider selling could have various motivations and doesn't necessarily indicate a negative outlook. Investors should consider these transactions as part of a broader analysis, including company fundamentals, market conditions, and overall investment strategy.

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Source: Investing.com