Welcome to edition 556 of Insider Weekends. Insider buying increased last week with insiders purchasing $144.14 million of stock purchased compared to $97.58 million in the week prior. Selling decreased with insiders selling $2.99 billion of stock last week compared to $3.45 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 20.75. In other words, insiders sold almost 21 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, when the ratio stood at 35.38.
Notable Insider Buys:
1. Bumble Inc. (BMBL): $71.75
Shares of Bumble were acquired by 2 insiders:
- CEO & Director Whitney Wolfe Herd acquired 488,371 shares, paying $43.00 per share for a total amount of $20.99 million. These shares were purchased indirectly by the reporting person’s spouse and a trust set up for the benefit of her child.
- Director Pamela Thomas-Graham acquired 6,535 shares, paying $76.23 per share for a total amount of $498,163.
Ms. Herd was an executive at Tinder, which she joined in 2012 when it was still being incubated inside IAC. She left Tinder in 2014 and founded Bumble. Tinder is now a part of Match Group (MTCH), which includes numerous dating related properties including Match, OkCupid, PlentyOfFish, etc.
The meteoric rise of Match Group over the last year and especially after its complete spin-off from IAC generated a lot of interest in Bumble during its IPO. After revising its IPO price upwards, the stock debuted at $43 on February 11th and hit an intraday high of $79.60 before settling down to close at $70.55. The company consists of the Bumble dating app with 12.3 million monthly active users (MAU) and a dating focused social networking platform called Badoo with 24.3 million MAU. Bumble has a “first mover advantage”, where it quite literally allows women on the platform to make the first move to contact a potential date.
Most of the growth is currently coming from the Bumble app which saw paid users grow 49% in 2019 and 30% in the first nine months of 2020. Including the slower growing Badoo, brought down the overall growth rate for 202o to 19%. I was quite surprised by the performance of Match Group during this pandemic when people tended to stay away from family and friends, let alone strangers. While Match Group did not reveal its year-to-date subscriber growth numbers when reporting Q3 results, they grew revenue 18% to $640 million and net income by 14% to $200 million in Q3 2020. Revenue for the nine months ended September 30, 2020 was $1.74 billion for Match Group (16% growth YoY) and $417 million for Bumble.
We tweeted about these Bumble purchases the evening they were filed with the SEC and you can see some of those tweets below or the entire thread here.
You can view the list of recent insider transactions for Bumble Inc. here.
|P/E: N/A||Forward P/E: N/A||Industry P/E: N/A|
|P/S: 15.24||Price/Book: N/A||EV/EBITDA: 3.68|
|Market Cap: $8.28B||Avg. Daily Volume: 14,944,100||52 Week Range: $70 – $84.8|
2. Nu Skin Enterprises, Inc. (NUS): $49.59
Shares of this personal care and wellness products developer were acquired by 2 insiders:
- Executive Chairman of the Board Steven Lund acquired 20,850 shares, paying $48.05 per share for a total amount of $1 million. These shares were purchased indirectly by a family limited liability company.
- Director Daniel W. Campbell acquired 9,910 shares, paying $50.64 per share for a total amount of $501,892. Mr. Campbell increased his stake by 13.99% to 80,757 shares with this purchase. 4,955 of these shares were purchased indirectly by a limited liability company.
You can view the list of recent insider transactions for Nu Skin Enterprises, Inc. here.
|P/E: 13.66||Forward P/E: 11.75||Industry P/E: 49.22|
|P/S: 0.98||Price/Book: 2.82||EV/EBITDA: 7.74|
|Market Cap: $2.52B||Avg. Daily Volume: 446,059||52 Week Range: $12.31 – $63.85|
3. KKR & Co. Inc. (KKR): $46.77
Director Robert W. Scully acquired 26,000 shares of this private equity firm, paying $48.13 per share for a total amount of $1.25 million. These shares were purchased indirectly through a trust.
Mr. Scully has served on KKR’s board since July 2010 and this is his largest insider purchase since 2013 when he purchased 910,000 shares at an average price of $19.93 for a total of $1.81 million. This low interest rate environment and the current disconnect between private and public market valuations is probably favorable for private equity firms like KKR. The company decided to join the SPAC bubble in size by filing a $1 billion IPO this month.
You can view the list of recent insider transactions for KKR & Co. Inc. here.
|P/E: 13.86||Forward P/E: 15.49||Industry P/E: 20.77|
|P/S: 3.09||Price/Book: 2.21||EV/EBITDA: N/A|
|Market Cap: $26.79B||Avg. Daily Volume: 2,401,355||52 Week Range: $15.55 – $49.29|
4. Fiserv, Inc. (FISV): $111.36
Director Denis O’Leary acquired 9,100 shares of this financial services technology provider, paying $110.99 per share for a total amount of $1.01 million. Mr. O’Leary increased his stake by 13.92% to 74,478 shares with this purchase.
You can view the list of recent insider transactions for Fiserv, Inc. here.
|P/E: 79.54||Forward P/E: 17.48||Industry P/E: 63.98|
|P/S: 5.01||Price/Book: 2.35||EV/EBITDA: 21.57|
|Market Cap: $74.46B||Avg. Daily Volume: 4,482,018||52 Week Range: $73.5 – $121.83|
5. Coty Inc. (COTY): $7.69
Shares of this beauty products company were acquired by 3 insiders:
- Director Robert S. Singer acquired 75,000 shares, paying $6.63 per share for a total amount of $497,160. Mr. Singer increased his stake by 20.19% to 446,482 shares with this purchase.
- Director Olivier Goudet acquired 50,000 shares, paying $6.86 per share for a total amount of $342,920. Mr. Goudet increased his stake by 10.44% to 529,129 shares with this purchase.
- Director Isabelle Parize acquired 15,225 shares, paying $6.60 per share for a total amount of $100,485. Mr. Parize increased his stake by 152.25% to 25,225 shares with this purchase.
You can view the list of recent insider transactions for Coty Inc. here.
|P/E: N/A||Forward P/E: 24.81||Industry P/E: 49.22|
|P/S: 1.42||Price/Book: 1.91||EV/EBITDA: 79.04|
|Market Cap: $5.9B||Avg. Daily Volume: 14,445,291||52 Week Range: $2.65 – $10.93|
You can view the full list of purchases from this Insider Buying page.
Notable Insider Sales:
1. Facebook, Inc. (FB): $261.56
Shares of Facebook were sold by 2 insiders:
- COB and CEO Mark Zuckerberg sold 181,594 shares for $271.58, generating $49.32 million from the sale. These shares were sold indirectly by various entities.
- Chief Financial Officer David M. Wehner sold 2,632 shares for $270.44, generating $711,793 from the sale. These shares were sold as a result of exercising options immediately prior to the sale.
You can view the list of recent insider transactions for Facebook, Inc. here.
|P/E: 25.92||Forward P/E: 19.33||Industry P/E: 39.14|
|P/S: 8.66||Price/Book: 5.81||EV/EBITDA: 17.56|
|Market Cap: $744.84B||Avg. Daily Volume: 18,466,201||52 Week Range: $137.1 – $304.67|
2. The Charles Schwab Corporation (SCHW): $61.91
Shares of Charles Schwab were sold by 4 insiders:
- Chairman Charles R. Schwab sold 670,000 shares for $60.93, generating $40.83 million from the sale.
- EVP – Corporate Risk Nigel J. Murtagh sold 36,665 shares for $57.92, generating $2.12 million from the sale.
- Senior EVP Jonathan M. Craig sold 8,903 shares for $63.01, generating $560,998 from the sale.
- Director William S. Haraf sold 7,866 shares for $61.25, generating $481,793 from the sale.
You can view the list of recent insider transactions for The Charles Schwab Corporation here.
|P/E: 29.2||Forward P/E: 20.78||Industry P/E: 20.77|
|P/S: 9.95||Price/Book: 3.06||EV/EBITDA: N/A|
|Market Cap: $116.33B||Avg. Daily Volume: 8,481,470||52 Week Range: $28 – $63.45|
3. Hyster-Yale Materials Handling, Inc. (HY): $96.23
Chairman Alfred M. Rankin sold 208,972 shares of this farm & heavy construction machinery company for $59.04, generating $12.34 million from the sale. These shares were sold indirectly by AMR Associates LP.
You can view the list of recent insider transactions for Hyster-Yale Materials Handling, Inc. here.
|P/E: 58.96||Forward P/E: 39.28||Industry P/E: 35.04|
|P/S: 0.55||Price/Book: 2.84||EV/EBITDA: 21.3|
|Market Cap: $1.62B||Avg. Daily Volume: 81,516||52 Week Range: $30.25 – $102.17|
4. XPO Logistics, Inc. (XPO): $119.49
Shares of this supply chain solutions provider were sold by 7 insiders:
- Director Jason D. Papastavrou sold 37,764 shares for $118.10, generating $4.46 million from the sale.
- Director Adrian Kingshott sold 37,571 shares for $118.04, generating $4.43 million from the sale.
- Director Michael G. Jesselson sold 35,000 shares for $118.19, generating $4.14 million from the sale. These shares were sold indirectly by various trusts.
- Chief Information Officer Mario A. Harik sold 30,467 shares for $119.10, generating $3.63 million from the sale.
- President Troy A. Cooper sold 25,974 shares for $118.98, generating $3.09 million from the sale.
- Director Oren Shaffer sold 10,000 shares for $118.81, generating $1.19 million from the sale.
- Chief Accounting Officer Lance A. Robinson sold 8,280 shares for $118.21, generating $978,767 from the sale.
You can view the list of recent insider transactions for XPO Logistics, Inc. here.
|P/E: 153.19||Forward P/E: 19.21||Industry P/E: 47.29|
|P/S: 0.75||Price/Book: 4.5||EV/EBITDA: 14.97|
|Market Cap: $12.21B||Avg. Daily Volume: 1,025,532||52 Week Range: $38.47 – $128.57|
5. The Goldman Sachs Group, Inc. (GS): $315.62
Shares of Goldman Sachs were sold by 4 insiders:
- CFO Stephen M. Scherr sold 20,000 shares for $312.61, generating $6.25 million from the sale.
- President and COO John E. Waldron sold 20,000 shares for $312.55, generating $6.25 million from the sale.
- Chairman of the Board and CEO David M. Solomon sold 10,000 shares for $312.60, generating $3.13 million from the sale.
- Executive Vice President John F.W. Rogers sold 10,000 shares for $313.25, generating $3.13 million from the sale.
You can view the list of recent insider transactions for The Goldman Sachs Group, Inc. here.
|P/E: 12.76||Forward P/E: 9.74||Industry P/E: 20.77|
|P/S: 2.62||Price/Book: 1.33||EV/EBITDA: N/A|
|Market Cap: $108.59B||Avg. Daily Volume: 3,024,727||52 Week Range: $130.85 – $316.78|
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.