We had an eclectic mix of companies with insider purchases this week ranging from a pizza chain to a specialty measurement company that operates in 35 countries. It was interesting to see the midstream oil & gas company Energy Transfer LP (ET) make our list for a second week in a row after Executive Chairman Kelcy Warren picked up an additional $21.67 million worth of units. We wrote briefly about Energy Transfer in our last Insider Weekends article.
The inside purchase that caught our attention this week was a $10 million purchase by the founder and CEO of communication software company Twilio (TWLO). This is only the second time he has purchased shares since the company went public in June 2016 at $15 per share. The stock closed the first day of trading up nearly 92% and peaked close to $70 per share a few months later before coming down to earth. As you can see below, his timing in buying shares of Twilio in 2017 at $23.43 per share was excellent and he was a big seller as the stock soared past $200, $300 and eventually over $400 per share during the pandemic related bubble.