Welcome to our daily roundup of top insider trades. Here's a look at the most significant inside sales and purchases filed with the SEC on Monday, May 20, 2013.
Purchases: Leonard Perham, the President and CEO of semiconductor company MoSys (MOSY), bought 250,000 shares of company stock for $1,000,000. Perham also serves as the Chairman of NetLogic Mircosystems (NASDAQ:NETL), another semiconductor company. MoSys focuses on the development and sale of integrated circuits customers in the networking, communications, storage, and computing markets. On May 14, MoSys announced the pricing of an underwritten public offering of 6,500,000 common stock shares, at $4.00 per share: From May 13's close to May 14's open, the stock's value dropped 10.45% to $4.20 from $4.69. The offering closed on May 17 and the price has since begun to make up for the loss, trading now at $4.39. The stock's price has increased 26.15% year-to-date and 47.81% since this time last year.
Fred Goad Jr., a Director of biological testing company Luminex (LMNX), bought 8,000 shares of company stock for $145,439, increasing his total stake to 337,579 shares. Luminex specializes in the development, manufacture, and sale of biological testing technologies and products that are used in the life sciences and diagnostics industries. The research firm TechNavio released a report yesterday forecasting the Global Molecular Diagnostics market to grow at a compound annual growth rate (CAGR) of 11.42% for the period 2012 to 2016, with a major impetus for this growth being increased investment in genomics research and the biggest challenge to this growth being regulatory requirements. Luminex features as a strong part of the market in the TechNavio report. The company's stock price is up 11.86% YTD and is down 19.94% since this time last year.
Sales: Ira Ehrenpreis, a Director of electric vehicle manufacturer Tesla Motors (TSLA), sold 793,290 shares of company stock for $72,117,816. Tesla manufactures electric vehicles as well as vehicle power-train components, and also provides service and maintenance programs. Ehrenpreis is also a managing member of the venture capital firm Technology Partners. Since a very positive earnings report on May 8, and with Q1 2013 being the company's first ever profitable quarter, the stock's price has shot up, increasing a full 81.27% in the last month. The stock's price has increased 155.98% YTD and 201.36% since this time last year.
Anton Levy, a Director of internet software company Web.com Group Inc. (WWWW), sold 2,000,000 shares of company stock for $42,860,000. The company designs and builds websites for businesses to establish and maintain their Web presence; it works mostly with small businesses. The company is today hosting its 14th annual investor conference in Santa Monica, CA at 9:30 a.m. PT; you can listen in here. The company' stock price has increased 44.26% YTD and 37.04% since this time last year.
|1||Dehaemers David||DIR||Tallgrass Energy||TEP||JB*||$3,225,000|
|3||Warnock David L||DIR||Natl Amer Univ||NAUH||JB*||$630,000|
|4||Jurgensen William||DIR||American Intl||AIG||B||$452,000|
|5||Finke Thomas F||CB,CEO||Babson HY Fd||BGH||B||$251,500|
|7||Frost Phillip Md||CEO,CB,BO||Opko Health||OPK||B||$193,636|
|8||Earnest Morgan G II||VP,CIO||Epr Properties||EPR||B||$177,717|
|9||Goad Fred C Jr||DIR||Luminex||LMNX||B||$145,439|
|1||Ehrenpreis Ira||DIR||Tesla Motors||TSLA||S||$72,117,816|
|2||Levy Anton J||DIR||Web Com||WWWW||JS*||$42,860,000|
|5||Clontz Steven T||DIR||Equinix||EQIX||S||$6,840,048|
|6||Noell Charles Iii||DIR||Servicenow||NOW||S||$6,839,901|
|7||Macquarie Infra Mgt||DIR||Macquarie Infra||MIC||JS*||$6,037,886|
|8||Madden Steven||BO||Steven Madden||SHOO||S||$4,767,974|
|9||Morgan Quinn||DIR,BO||Erickson Air Crane||EAC||S||$3,700,482|
In a victory for common sense, it has been proven profitable -- by both academic studies and (more importantly) the experience of your fellow professional investors -- to monitor the trading behavior of company executives, directors, and large shareholders in the stocks of firms of which they're registered as "insiders."
Please note, however, that the lists above are strictly factual; they are not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.
At InsiderInsights.com, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.
Jonathan Moreland is also the author of "Profit From Legal Insider Trading."
Follow me on Twitter: @JoshWolonick and @Minyanville
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