Last Week's Notable Insider Buys: News Corp, Microsoft, Snowflake, Walmart, And More

Last Week's Notable Insider Buys: News Corp, Microsoft, Snowflake, Walmart And More

Image by Csaba Nagy from Pixabay.

Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when there is uncertainty in the markets or the markets are near all-time highs.

With the earnings reporting season underway, plenty of insiders are now adding to their stakes. Here are some of the most noteworthy insider purchases that were reported in the past week.

Snowflake Inc (SNOW) saw a 10% owner acquire over $39.31 million worth of shares this past week. That was more than 1.74 million shares costing between $219.61 and $235 apiece. Note that some other insiders sold more than 690,000 shares altogether last week as well.

A beneficial owner at cloud company Fastly Inc (FSLY) stepped up to the buy window early last week. That owner indirectly added 500,000 shares to its stake. At prices that averaged $65.41 per share, that totaled more than $32.07 million. In addition, an executive shed over 14,000 shares last week as well.

Recently, Executive Chair Rupert Murdoch acquired 500,000 News Corp (NWS) shares via trust. At prices ranging from $23.50 to $24.40 per share, the total came to over $12.04 million. Shares of this media company ended the week trading at $24.93, above Murdoch's purchase price range.

The almost 108,300 PennyMac Financial Services Inc (PFSI) shares that one director indirectly purchased this past week had prices ranging from $56.94 to $58.42 apiece. The transactions cost that director around $7 million altogether. The timing seems fortunate, as the stock closed the week trading at $65.70 a share.

As rumors about activist investor interest swirled, a Dropbox Inc (DBX) director indirectly purchased 100,000 shares of this San Francisco-based company. At prices of $24.51 to $24.58 per share, that totaled almost $2.46 million. The week's close at $27.06 indicates up to a 10% gain for that director.

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Disclaimer: At the time of this writing, the author had no position in the mentioned equities.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights ...

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