Insider Activity Roundup: Thursday's Top Buys and Sells in US Stocks

This article summarizes the most significant insider buys and sells from Thursday's disclosures for US stocks.

Top Insider Buys:

Nuvation Bio Inc. (NYSE:NUVB) saw Director Robert Mashal increase his stake in the company through a substantial purchase. Mashal acquired 100,000 shares of Nuvation Bio's Class A Common Stock on October 8, 2024, at prices ranging from $2.195 to $2.2 per share. The total value of the transaction was approximately $220,000. Following these purchases, Mashal now indirectly owns 100,000 shares through the Robert D. Mashal 2020 Revocable Trust, for which he serves as the sole trustee.

Tharimmune, Inc. (NASDAQ:THAR) CEO Randy Milby demonstrated confidence in his company by purchasing 2,500 shares on October 8th. The shares were acquired at prices between $2.085 and $2.1, totaling an investment of $5,221. This insider buy is often viewed as a positive signal, reflecting the CEO's belief in the company's future prospects.

GATX Corp (NYSE:GATX ) received a significant vote of confidence from major shareholder State Farm Mutual Automobile Insurance Co. The insurance giant invested over $3.1 million in GATX stock, purchasing a total of 23,706 shares across two days. The transactions occurred at prices of $133.269 and $133.6518 per share, further solidifying State Farm's position in the transportation services company.

AngioDynamics Inc. (NASDAQ:ANGO ) reported an insider purchase by Warren Nighan Jr., the company's Senior Vice President of Quality and Regulatory. Nighan acquired a total of 868 shares in two separate transactions on October 7 and October 10. The shares were purchased at prices of $6.09 and $6.08, respectively, for a total investment of over $5,285.

CITY HOLDING CO (NASDAQ:CHCO) director Robert D. Fisher increased his stake in the company by purchasing 172 shares at $115.0241 each on October 10, 2024. The total investment amounted to $19,784. Following this transaction, Fisher now owns 44,232.3946 shares in CITY HOLDING CO. The purchase was made under a Rule 10b5-1 Plan, a predetermined trading arrangement for company insiders.

Top Insider Sells:

Zoom Video Communications , Inc. (NASDAQ:ZM ) CEO Eric Yuan sold a substantial number of shares over several days. The transactions, which occurred on October 9 and 10, 2024, involved the sale of 58,454 shares at prices ranging from $68.12 to $70.9053. The total value of the sales exceeded $4 million.

Jefferies Financial Group Inc. (NYSE:JEF) President Brian P. Friedman divested 200,000 shares on October 10, 2024. The shares were sold at weighted average prices between $63.00 and $63.41, resulting in a total sale value of approximately $12.6 million. Despite this significant sale, Friedman retains substantial holdings in the company through various ownership structures.

Robinhood (NASDAQ:HOOD ) Markets, Inc. (NASDAQ:HOOD) Chief Brokerage Officer Steven M. Quirk sold 208,291 shares of Class A Common Stock on October 8, 2024. The transaction, executed under a pre-arranged Rule 10b5-1 plan, netted approximately $5,202,942. The shares were sold at prices ranging from $24.96 to $25.04 throughout the day.

Credo Technology Group Holding Ltd (NASDAQ:CRDO ) Director Tan Lip Bu conducted a series of sales between October 8 and October 10. Tan sold a total of 406,954 shares at prices ranging from $33.2315 to $37.0433, with the total value of the transactions exceeding $14 million.

Berkshire Hathaway Inc . (NYSE:BRKa ), led by Warren E. Buffett, reported the sale of approximately 9.55 million shares of Bank of America Corp (NYSE:NYSE:BAC ) stock. The transactions occurred between October 8 and October 10, with share prices ranging from $39.9175 to $40.1434. The total value of the sales amounted to around $382 million.

Investors should pay attention to insider trading activity as it can provide valuable insights into a company's internal perspective. While insider buys often signal confidence in a company's future, sells may occur for various reasons and should be considered alongside other factors when making investment decisions.

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Source: Investing.com