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Top Insider Buys Highlight for the Week of Feb. 21

The largest insider buys this week were in Tesla Inc. (NASDAQ:TSLA), NextEra Energy Inc. (NYSE:NEE), Coty Inc. (NYSE:COTY) and Bunge Ltd. (NYSE:BG).

Tesla CEO bought 13,037 shares

CEO Elon Musk bought 13,037 shares on Feb. 14 for an average price of $767. The stock has gained 17.47% since then.

Tesla is an American automotive and energy storage company that focuses on electric vehicle manufacturing and battery energy storage. The company is a component of both the Nasdaq 100 and Russell 1000. As of 2019, the company sells the Model S, Model X and Model 3 cars as well as the Powerwall, Powerpack and Megapack batteries. The company has a market capitalization of $166.13 billion; as of Feb. 21, it traded at $901.


On Feb. 13, Tesla announced that it intends to offer approximately $2 billion worth of common stock in an underwritten registered public offering. The company has granted the underwriters a 30-day option to purchase up to an additional $300 million in common stock. Musk will participate by purchasing up to $10 million worth of common stock in this offering.

NextEra Energy director bought 3,000 shares

Director David L. Porges bought 3,000 shares on Feb. 19 for an average price of $275.50. The share price has risen 0.76% since then.

NextEra Energy is an energy company with around 45,900 megawatts of generating capacity. The company purchases, owns and operates wind and solar power projects in North America, including in Palo Duro Canyon, Conestogo, Ontario and Dewey County, Oklahoma. The company has a market capitalization of $135.73 billion; as of Feb. 21, it traded at $277.59.

On Feb. 19, NextEra Energy announced it has agreed to sell $2.5 billion of equity units to JPMorgan, Wells Fargo Securities and Bank of America Securities. The transaction closed on Feb. 21. Each equity unit was issued in a stated amount of $50 and will consist of a contract to purchase the company's common stock in the future and a 5% undivided beneficial ownership interest in a NextEra Energy Capitol Holdings Inc. debenture due March 1, 2025.

Coty president bought 15,203 shares

Giovanni Pieraccioni, president of the Europe, Middle East and Africa division, bought 15,203 shares on Feb. 13 for an average price of $11.72. The stock has declined 4.1% since then.

Coty is an international beauty products manufacturer. The company's main products include fragrances, color cosmetics and skin and body care products. The company owns the major brands of Calvin Klein, Chloie, Davaidoff, Marc Jacobs, Philosophy, Adidas, Playboy and Rimmel London. The company has a market capitalization of $8.55 billion; as of Feb. 21, it traded at $11.24.

On Feb. 5, Coty announced financial results for the second quarter of 2020, which ended Dec. 31. Net revenue for the quarter decreased 6.6% year over year to $2.345 billion, while adjusted operating income increased 1% year over year to $325 million. Adjusted earnings per share for the quarter were 27 cents, a 13% increase year over year.

Bunge executive vice president and chief legal officer bought 15,000 shares

Executive Vice President and Chief Legal Officer Joseph Podwika bought 15,000 shares on Feb. 18 for an average price of $53.47. The share price has decreased by 0.45% since then.

Bunge is an American food processing company that focuses on soybean exporting, grain trading and fertilizers. The company is a component of the Russell 1000 and has approximately 32,000 employees in 40 countries. The company has a market capitalization of $7.54 billion; as of Feb. 21, it traded at $53.23.

On Feb. 12, Bunge reported fourth-quarter and full-year 2019 financial results. GAAP loss per share for the year was $9.34, compared to GAAP earnings per share of $1.57 a year ago. GAAP loss per share for the quarter was 48 cents, compared to a loss per share of 51 cents during the prior-year quarter. The net loss for the quarter was $51 million, compared to a net loss of $65 million last year.

For the complete list of stocks that were bought by their company executives, go to Insider Trades.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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This article first appeared on GuruFocus.


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