This article summarizes the most significant insider buying and selling activities reported on Thursday for US stocks.
Top Buys:
Berkshire Hathaway Inc . (NYSE:) has significantly increased its stake in Verisign Inc . (NASDAQ:). The company, led by Warren E. Buffett, acquired 227,113 shares of Verisign’s common stock over a three-day period, with a total value of approximately $45.4 million. The purchases occurred between December 17 and December 19, with share prices ranging from $191.12 to $196.0041. This acquisition brings Berkshire Hathaway’s total ownership to 13,049,925 shares. Verisign, a technology company valued at $18.62 billion, boasts an impressive gross profit margin of 87.58% and trades at a P/E ratio of 22.5.
Berkshire Hathaway Inc. has also substantially increased its position in Occidental Petroleum Corp. (NYSE:NYSE:). The company acquired 8,905,890 shares of Occidental Petroleum, totaling $409 million, over three days from December 17 to December 19. The purchases were made at a weighted average price ranging from $45.5458 to $46.9172 per share. These transactions were executed indirectly through Berkshire’s subsidiary, National Indemnity Company. Occidental Petroleum is currently trading near its 52-week low with a P/E ratio of 11.
Saba Capital Management, L.P., led by Boaz Weinstein, has expanded its holdings in PIMCO Dynamic Income Strategy Fund (NYSE:PDX). The firm purchased 26,121 shares on December 17 and 18, valued at approximately $654,710. The shares were acquired at prices ranging from $24.92 to $25.16 per share. Following these transactions, Saba Capital now holds 6,808,213 shares of the fund. PDX, with a market capitalization of $1.11 billion, offers an attractive dividend yield of 5.57% and has delivered a 26% return year-to-date.
Saba Capital Management, L.P. has also increased its stake in Pioneer Municipal High Income Advantage Fund, Inc. (NYSE:MAV). The firm acquired 91,638 shares over two days, December 17 and 18, with a total value of $791,530. The shares were purchased at prices ranging from $8.60 to $8.66 per share. Following these transactions, Saba Capital Management’s total ownership in the fund increased to 3,577,390 shares. MAV has demonstrated strong performance with a 10.89% year-to-date return and maintains a healthy 4.59% dividend yield.
Top Sells:
Gregory B. Maffei, President and CEO of Liberty Broadband Corp (NASDAQ:), sold approximately $12.8 million worth of shares. The transactions involved the sale of 137,733 shares of Series C Common Stock over December 18 and 19, with prices ranging from $77.3265 to $80.91 per share. Following these sales, Maffei retains 1,398,523 shares directly and additional indirect ownership through trusts.
Michael Cannon-Brookes, CEO and co-founder of Atlassian Corp (NASDAQ:), sold shares worth approximately $2.05 million. The transactions, executed on December 18, involved the sale of Class A common stock at prices ranging from $250.34 to $269.75 per share. Following these sales, Cannon-Brookes holds 63,584 shares indirectly through a trust.
Scott Farquhar, co-founder and director of Atlassian Corp (NASDAQ:TEAM), sold shares totaling approximately $2,053,212. The transactions occurred on December 18, with prices ranging from $250.341 to $269.75 per share. After these sales, Farquhar holds 64,384 shares indirectly through the Farquhar Family Trust.
Jim Snabe, a director at C3.ai, Inc. (NYSE:NYSE:), sold 499,700 shares of the company’s Class A common stock at an average price of $43.05 per share, totaling approximately $21.5 million. This sale leaves him with 10,000 shares directly owned. Snabe also exercised stock options to acquire shares at various prices, totaling approximately $5.38 million.
Joseph Gebbia, a director and significant shareholder of Airbnb, Inc. (NASDAQ:ABNB), sold 214,285 shares of the company’s Class A common stock on December 17. The transactions occurred at prices ranging from $130.94 to $132.29 per share, resulting in a total sale value of approximately $28.3 million.
Investors should stay tuned to insider buying and selling activities as they can provide valuable insights into a company’s prospects. While insider transactions alone should not be the sole basis for investment decisions, they can offer clues about management’s confidence in the company’s future performance. However, it’s important to consider these activities in conjunction with other fundamental and technical analysis factors before making any investment choices.
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