Insider Buying at Starbucks, Adobe and 3 Other Stocks
Insiders buying stocks generally indicates a positive outlook from investors most in the know.
As Peter Lynch once said: “Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.”
With that in mind, here are some companies with recent insider buying.
Starbucks (SBUX)
In mid-September, Starbucks (US:SBUX) director Richard Allison bought 10,000 shares at $$92.53 or about $925,000. Near the same time, nonexecutive chairman Mellody Hobson bought 54,750 shares at $92.57, or about $5 million. Putting $1 million where your mouth is, is one thing, but $5 million? Hobson has some confidence.
Adobe (ADBE)
Adobe (US:ADBE) director and Eli Lilly CEO David Ricks acquired 1,200 shares at $280 each, for a total $330,000.
Adobe CFO Daniel Durn bought 3,250 shares of Adobe on Sept. 22 at $288.11 each, or $936,357.
Nautilus Biotechnology (NAUT)
Smallcap Nautilus Biotechnology (US:NAUT), with just a $265 million market value, saw insider buying too. VP Sankar Subramanian bought 40,000 shares on Sept. 15 and 35,000 on the 16th. He followed that with a 10,000 share purchase on Sept. 26, and on the 27th, he bought another 5,000 shares. He executed the trades between $2.02 and $2.20 a share,
Nautilus Chief People Officer Gwen Weld joined the buying spree and purchased 30,000 shares on Sept. 2302.
Loop TV (LPTV)
Weighing in with a similar market cap to Nautilus, at $250 million, Loop TV (US:LPTV) director Bruce Cassidy acquired 460,000 shares on Sept. 26 for $2.3 million, or $5 a share. Notably, it was the first insider purchase at Loop since April.
United Natural Foods (UNFI)
Last on the list is United Natural Foods (US:UNFI).
On Sept. 29, Chief Executive Douglas Alexander purchased 2,932 shares at an average price of $33.98, or under $100,000. The move lifts his stake to more than 56,000 shares, worth almost $2 million.
United Natural shares rose 6% intraday after Alexander filed his Sept. 30 Form 4 with the US Securities and Exchange Commission but gave up half the gain to close up j2.5%.
This article originally appeared on Fintel
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Source: Read Full Article