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With earning season finally coming to a close, we’ve seen a recent spike in insider activity over the last few weeks. On weeks like this, there are often multiple companies that we find interesting or worth diving into. So instead of just featuring one company in our article this week, we’ve chosen to write about three in our list of top insider buys and sales below.
Welcome to edition 760 of Insider Weekends. Insider buying decreased sharply last week with insiders purchasing $235.55 million of stock compared to $1.14 billion in the week prior. Insider selling on the other hand; increased to $6.53 billion compared to $5.07 billion in the week prior. The big jump in insider buying in the week prior was related to Saudi Arabia’s Public Investment Fund participating in a secondary offering by Lucid (LCID) to the tune of $1.03 billion.
Sell/Buy Ratio: The Insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by the total insider purchases that week. The adjusted ratio this week increased to 27.74. In other words, insiders sold more nearly 28 times as much stock as they purchased. This week the Sell/Buy ratio was unfavorable compared to the prior week, when the ratio stood at 4.44.
Notable Insider Buys:
1. Coupang Inc. (CPNG): $24.48
Director Neil Mehta acquired 2,250,199 shares, of this e-commerce giant indirectly via Greenoaks Capital Partners LLC paying $24.28 per share for a total amount of $54.63 million.