Welcome to edition 547 of Insider Weekends. Insider buying increased significantly last week with insiders purchasing $182.84 million of stock compared to $66.85 million in the week prior. Selling also increased with insiders selling $3.42 billion of stock last week compared to $2.97 billion in the week prior.
Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week dropped to 18.71. In other words, insiders sold almost 19 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, when the ratio stood at 44.36.
Note: As mentioned in the first post in this series, certain industries have their preferred metrics such as same store sales for retailers, funds from operations (FFO) for REITs and revenue per available room (RevPAR) for hotels that provide a better basis for comparison than simple valuation metrics. However metrics like Price/Earnings, Price/Sales and Enterprise Value/EBITDA included below should provide a good starting point for analyzing the majority of stocks.
Notable Insider Buys:
1. Grid Dynamics Holdings, Inc. (GDYN): $11.23
EVP of Customer Success Victoria Livschitz acquired 126,000 shares of this enterprise software services provider, paying $11.72 per share for a total amount of $1.48 million. These shares were purchased indirectly through various trusts.
This purchase filed with the SEC late on Friday evening stood out because of its size in relation to the size of the company. Grid Dynamics is a software consulting company with a market cap of $571 million and an enterprise value of $445 million. Following this purchase Ms. Livschitz owns 2.3% of the outstanding shares.
In a scene that could be out of Netflix’s new popular series The Queen’s Gambit, Ms. Livschitz met her husband, Leonard Livschitz at an international chess tournament in Bulgaria and by the end of the tournament he had proposed to her. Both of them emigrated to the U.S. and attended Case Western University and later worked at Ford. Ms. Livschitz worked at Sun Microsystems from 1997 until 2006, rising through the engineering ranks to become a Principal Architect. She founded Grid Dynamics in 2006 and left for a period of two years from 2013 to 2015, while her former husband joined the company in 2014 as CEO. For more on Ms. Livschitz check out her 2011 article Frogs, Chessboards and Grids in the The New York Times.
Grid Dynamics went public on March 5, 2020 through a combination with a special purpose acquisition company (SPAC), the increasingly popular method for companies to go public and avoid the long process associated with a traditional IPO. According to Accelerate, SPAC activity heated up significantly this summer and in a sign of an increasingly frothy market, there were a record 247 SPACs trading as of November 25, of which 52 have announced a business combination and 195 were looking to merge with an operating company.
You can view the list of recent insider transactions for Grid Dynamics Holdings, Inc. here.
|P/E: N/A||Forward P/E: N/A||Industry P/E: 61.52|
|P/S: 5.05||Price/Book: N/A||EV/EBITDA: -371.27|
|Market Cap: $571.16M||Avg. Daily Volume: 240,634||52 Week Range: $4.61 – $13.51|
2. Southern National Bancorp of Virginia, Inc. (SONA): $11.9
Shares of this regional bank were acquired by 4 insiders:
- President/CEO Dennis J. Zember acquired 100,000 shares, paying $11.57 per share for a total amount of $1.16 million. Mr. Zember increased his stake by 200.00% to 150,000 shares with this purchase.
- Director John Fitzgerald Biagas acquired 8,880 shares, paying $11.30 per share for a total amount of $100,344. Mr. Biagas increased his stake by 18.12% to 57,879 shares with this purchase.
- President Panacea Financial Clinton Tyler Stafford acquired 8,800 shares, paying $9.66 per share for a total amount of $85,008. Mr. Stafford increased his stake by 651.85% to 10,150 shares with this purchase.
- Director Charles A. Kabbash acquired 1,680 shares, paying $11.92 per share for a total amount of $20,018. Mr. Kabbash increased his stake by 3.88% to 44,968 shares with this purchase. These shares were purchased indirectly through an IRA.
You can view the list of recent insider transactions for Southern National Bancorp of Virginia, Inc. here.
|P/E: 12.4||Forward P/E: 12.4||Industry P/E: 15.77|
|P/S: 3.18||Price/Book: 0.75||EV/EBITDA: N/A|
|Market Cap: $289.99M||Avg. Daily Volume: 90,825||52 Week Range: $7.58 – $16.73|
3. CuriosityStream Inc. (CURI): $10.53
Director John S. Hendricks acquired 94,157 shares of this media and entertainment company, paying $9.61 per share for a total amount of $905,086. Mr. Hendricks increased his stake by 12.93% to 822,157 shares with this purchase.
You can view the list of recent insider transactions for CuriosityStream Inc. here.
|P/E: N/A||Forward P/E: N/A||Industry P/E: N/A|
|P/S: 12.11||Price/Book: N/A||EV/EBITDA: -12.32|
|Market Cap: $423.25M||Avg. Daily Volume: 136,260||52 Week Range: $7.44 – $12.057|
4. StoneX Group Inc. (SNEX): $56
Shares of this financial services company were acquired by 2 insiders:
- CEO – subsidiary entity Henry Glenn Stevens acquired 15,000 shares, paying $51.93 per share for a total amount of $778,950.
- Chief Governance/Legal Officer Diego Rotsztain acquired 981 shares, paying $50.92 per share for a total amount of $49,957.
You can view the list of recent insider transactions for StoneX Group Inc. here.
|P/E: N/A||Forward P/E: N/A||Industry P/E: N/A|
|P/S: 0.02||Price/Book: N/A||EV/EBITDA: N/A|
|Market Cap: $1.09B||Avg. Daily Volume: 71,354||52 Week Range: $28.01 – $65.02|
5. Progenity, Inc. (PROG): $6.32
Shares of this biotech company were acquired by 2 insiders:
- Chief Operating Officer Damon Silvestry acquired 121,951 shares, paying $4.31 per share for a total amount of $525,808. Mr. Silvestry increased his stake by 122.84% to 221,230 shares with this purchase.
- Director Jeffrey D. Alter acquired 20,000 shares, paying $4.85 per share for a total amount of $97,000. Mr. Alter increased his stake by 109.08% to 38,335 shares with this purchase.
You can view the list of recent insider transactions for Progenity, Inc. here.
|P/E: N/A||Forward P/E: N/A||Industry P/E: 20.62|
|P/S: 4.29||Price/Book: N/A||EV/EBITDA: -1.67|
|Market Cap: $345.36M||Avg. Daily Volume: 516,075||52 Week Range: $3.08 – $15.92|
You can view the full list of purchases from this Insider Buying page.
Notable Insider Sales:
1. Walmart Inc. (WMT): $145.95
Shares of Walmart were sold by 2 insiders:
- Director Robson S. Walton sold 2,318,947 shares for $145.93, generating $338.39 million from the sale. These shares were sold indirectly through a trust.
- Executive Vice President Marc E. Lore sold 90,000 shares for $145.52, generating $13.09 million from the sale.
You can view the list of recent insider transactions for Walmart Inc. here.
|P/E: 21.06||Forward P/E: 25.38||Industry P/E: 22.49|
|P/S: 0.75||Price/Book: 5.07||EV/EBITDA: 12.46|
|Market Cap: $412.93B||Avg. Daily Volume: 7,212,067||52 Week Range: $102 – $153.66|
2. Virgin Galactic Holdings, Inc. (SPCE): $23.84
Shares of this integrated aerospace company were sold by 2 insiders:
- Director Chamath Palihapitiya sold 3,800,000 shares for $25.74, generating $97.83 million from the sale.
- Director James Ryans sold 30,000 shares for $26.43, generating $792,900 from the sale.
You can view the list of recent insider transactions for Virgin Galactic Holdings, Inc. here.
|P/E: N/A||Forward P/E: N/A||Industry P/E: 79.03|
|P/S: 7283.85||Price/Book: N/A||EV/EBITDA: -18.27|
|Market Cap: $5.59B||Avg. Daily Volume: 15,745,279||52 Week Range: $9.06 – $42.49|
3. Facebook, Inc. (FB): $276.4
Shares of Facebook were sold by 2 insiders:
- COB and CEO Mark Zuckerberg sold 270,415 shares for $274.66, generating $74.27 million from the sale. These shares were sold indirectly through various entities.
- VP and General Counsel Jennifer Newstead sold 310 shares for $274.74, generating $85,169 from the sale.
You can view the list of recent insider transactions for Facebook, Inc. here.
|P/E: 31.49||Forward P/E: 26.35||Industry P/E: 39.58|
|P/S: 9.97||Price/Book: 6.69||EV/EBITDA: 24.58|
|Market Cap: $787.27B||Avg. Daily Volume: 19,182,432||52 Week Range: $137.1 – $304.67|
4. Paylocity Holding Corporation (PCTY): $201.79
Director Steven I. Sarowitz sold 400,000 shares of this cloud-based payroll and human capital management software solutions provider for $180.50, generating $72.2 million from the sale.
You can view the list of recent insider transactions for Paylocity Holding Corporation here.
|P/E: 180.17||Forward P/E: 96.55||Industry P/E: 59.44|
|P/S: 19.19||Price/Book: 28.29||EV/EBITDA: 126.07|
|Market Cap: $10.95B||Avg. Daily Volume: 330,223||52 Week Range: $66.98 – $209.59|
5. Napco Security Technologies, Inc. (NSSC): $27.08
President, CEO and Secretary Richard Soloway sold 2,233,071 shares of this security & protection services provider for $24.70, generating $55.16 million from the sale.
You can view the list of recent insider transactions for Napco Security Technologies, Inc. here.
|P/E: 65.57||Forward P/E: 22.02||Industry P/E: 74.21|
|P/S: 5.06||Price/Book: 6.19||EV/EBITDA: 36.65|
|Market Cap: $496.85M||Avg. Daily Volume: 108,417||52 Week Range: $13.33 – $33.09|
You can view the full list of sales from this Insider Sales page.
Disclaimer: Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.