when 13F filings were published in mid-May of 2018, it showed that for the first time since its IPO, more funds reduced FB holdings over a quarter than added shares. In Q1, 192 more funds had pared-down FB positions than had increased FB shares (left). While not a huge shift in institutional sponsorship, this indicator was possibly the canary in the coal mine, signaling that FB’s relentless institutional buying momentum had stalled.Read More
Elon Musk bought $25 million of Tesla on the open market – but does it usually pay to copy famous insiders when they buy?
On June 13, 2018, Elon Musk reported buying 72,500 shares of Tesla, Inc. (TSLA) at an average price of about $344, spending nearly $25 million. Tesla stock rallied about 7.5% over the next three days. But the big purchase by Musk begs the question: Is it usually profitable to follow famous CEOs into their own stocks when they buy shares?Read More
Hornbeck industries (NYSE: HOS) stock has been on a tear since July 3 when a group of insiders disclosed acquiring a total of 24,550 shares at $4.00. HOS closed at $5.21 on June 29.Read More
Two long-time directors of AbbVie Inc. (NYSE: ABBV) disclosed purchases of the pharmaceutical company’s stock as it pulled back 25% from all-time highs reached earlier this year.Read More