Summary
- Insider buying edged up a wee bit last week with insiders purchasing $133.12 million of stock.
- Notable Insider Buys: American Assets Trust, Inc., B. Riley Financial, Inc., OPKO Health, Inc., Covenant Logistics Group, Inc., Charles River Laboratories International, Inc.
- Notable Insider Sells: Amazon.com, Inc., Microsoft Corporation, Charter Communications, Inc., The Boston Beer Company, Inc., Pinterest, Inc.
Insider buying edged up a wee bit last week with insiders purchasing $133.12 million of stock compared to $132.96 million in the week prior. Selling increased significantly, with insiders selling $5.61 billion of stock last week compared to $1.17 billion in the week prior. A majority of the selling was by Jeff Bezos and other insiders of Amazon.com (AMZN).
The other large sale last week was a $405.21 million share sale of Caravan (CVNA) by 10% owner Ernest C. Garcia II. The innovative used car sales company has seen its shares rise sharply, with the stock up more than 165% over the last year. With an estimated net worth north of $5 billion, Mr. Garcia is Carvana’s largest shareholder and is the father of Carvana’s CEO Ernest Garcia III. He is also the owner of the fourth-largest used car company, DriveTime Automotive, and was featured in the Forbes article titled, “How An Ex-Con Became A Billionaire From Used Cars“.
Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week went up to 42.12. In other words, insiders sold more than 42 times as much stock as they purchased. The Sell/Buy ratio this week compares unfavorably with the prior week, when the ratio stood at 8.82.
