Top Insider Transactions of the Week

Last Updated: 19. Dezember 2023By

Today I am reporting to you again about remarkable stock transactions from executives or renowned hedge funds. After all, who could better assess the future development of the companies than the executives or major shareholders who are very close to the pulse of the times?

Stock transactions of these people can provide you with important information. Stock purchases in particular are particularly informative. This has a simple reason: While there are many reasons for sales (e.g. that a manager also needs liquidity for private obligations), massive stock purchases are primarily driven by the intention to make money.

Attached you will find three companies that have stood out through interesting insider transactions in the past week:

Madrigal Pharmaceuticals: At the biotechnology company Madrigal Pharmaceuticals, the major shareholder Baker Bros. Advisors continues to act: The New York hedge fund, specialized in biotechnology stocks, and headed by billionaires Julian and Felix Baker, acquired a total of 136,370 shares at prices between $218.31 and $228.32. The value of the transactions was just over $30 million. After the purchases, the hedge fund holds more than 1.79 million shares of the company, representing about 10% of all outstanding shares.

Madrigal Pharmaceuticals is involved in the development of innovative therapeutic candidates for the treatment of cardiovascular, metabolic and liver diseases. The company, founded in September 2011, does not yet generate any revenue. The last quarterly loss was $99 million. After the share price has risen by over 270% in the last 12 months, the market value is now around $4.68 billion.

Trimble: There has recently been the first stock purchase of the year at Trimble. Director Mark Peek acquired 10,000 shares at a price of $46.59. This increased the insider’s holding by around 14% to 81,562 shares.

Trimble is a company specializing in the development of technologies for connected working in the areas of agriculture, construction, geodesy and transport. The business model is based on providing advanced solutions such as GPS technology, sensors and software to enable more efficient and precise working processes in various industries.

In the last quarter, the company increased its revenue by 8.1% to $957 million. Ultimately, the quarter’s profit was $75 million.

Chewy: There was also a remarkable stock purchase at the online retailer Chewy. Director James Star collected 15,353 shares at a price of $19.60. Star had to pay $300,992 for the purchases. The transaction increased the insider’s stock ownership to 129,548 shares.

Chewy is a pure online retailer for pets in the United States. The company offers medicines, food, treats and other products and services for dogs, cats, fish, birds, small animals, horses and reptiles. The company was founded in September 2011 by Ryan Cohen and Michael Day and is headquartered in Dania Beach, Florida.

In the third quarter, the company increased its revenue by 8.3% to $2.74 billion. At the same time, the adjusted earnings before taxes, interest and depreciation (EBITDA) increased by 11.7% compared to the previous year to $82.1 million.