Friday Insider Trade Activity: Key Buys and Sells from the Day

This article summarizes the most significant insider buying and selling activities for US stocks reported on Friday, October 4, 2024.

Top Insider Buys:

• Oncocyte Corp: Broadwood Partners L.P. increased its stake in Oncocyte Corp by purchasing 1,315,339 shares at an average price of $2.948 per share, totaling approximately $3.88 million. This acquisition demonstrates Broadwood Partners’ continued commitment to the diagnostics company, bringing their direct ownership to 6,244,405 shares.

• Cartesian Therapeutics, Inc.: Director and ten percent owner Timothy A. Springer made substantial stock purchases totaling around $4.29 million. Springer’s buying spree included several transactions, with the largest single-day purchase being 48,880 shares at an average price of $22.3542. These acquisitions indicate a positive outlook on the pharmaceutical company’s prospects.

• Armour Residential REIT, Inc.: Chairman Daniel C. Staton acquired 10,000 shares for a total of $198,570. The purchases occurred at prices ranging from $19.85 to $19.86 per share, reflecting Staton’s confidence in the company’s future.

Top Insider Sells:

• Apogee Therapeutics, Inc.: CEO Michael Thomas Henderson sold 40,000 shares of common stock at prices ranging from $56.07 to $56.74, totaling over $2.2 million. These sales were executed under a pre-established trading plan.

• AutoZone Inc.: Executive Chairman William C. Rhodes III sold shares in two separate transactions. The first involved the sale of 2,135 shares for approximately $7.56 million, with prices ranging from $3,075.20 to $3,110.64 per share. The second transaction saw Rhodes selling additional shares valued at over $39 million, with individual share prices ranging from $3,079.15 to $3,115.01.

• Cloudflare, Inc.: Chief Financial Officer Thomas J. Seifert sold 15,000 shares of Class A Common Stock in multiple transactions, with a total value of approximately $1,187,865, at prices between $78.21 and $79.81 per share.

• Lowe’s Companies Inc.: Executive Vice President and Chief Information Officer Seemantini Godbole sold 26,186 shares at $271.73 each, totaling around $7.12 million. On the same day, Godbole also acquired shares through option exercises.

Investors should pay attention to insider buying and selling activities, as they can provide valuable insights into a company’s internal perspective. However, insider transactions should not be the sole basis for investment decisions but should be considered alongside other financial analysis and market research. It is essential to remember that insiders may have various motivations for buying or selling shares, and these transactions should be viewed as part of a broader investment strategy.