Friday 3/27 Insider Buying Report: WTM, ORCL (Nasdaq.com)
At White Mountains Insurance Group, a filing with the SEC revealed that on Tuesday, Director Morgan W. Davis bought 1,050 shares of WTM, at a cost of $757.61 each, for a total investment of $795,486. So far Davis is in the green, up about 23.3% on their buy based on today’s trading high of $933.95. White Mountains Insurance Group is trading off about 3.6% on the day Friday. This buy marks the first one filed by Davis in the past year. And on Monday, Director Charles W. Moorman bought $452,300 worth of Oracle, buying 10,000 shares at a cost of $45.23 each. Before this latest buy, Moorman made one other buy in the past twelve months, purchasing $971,862 shares at a cost of $48.59 a piece. Oracle is trading down about 1.2% on the day Friday. Moorman was up about 11.9% on the buy at the high point of today’s trading session, with ORCL trading as high as $50.62 in trading on Friday.
A Director at The Middleby (NASDAQ: MIDD) is Buying Shares (Analyst Ratings)
Yesterday, a Director at The Middleby (MIDD), Chapin Sarah Palisi, bought shares of MIDD for $75.18K. This recent transaction increases Chapin Sarah Palisi’s holding in the company by 16.78% to a total of $387.7K. In addition to Chapin Sarah Palisi, 6 other MIDD executives reported Buy trades in the last month.
Salesforce.com Inc (CRM) Chair of the Board & CEO Marc Benioff Sold $3.1 million of Shares (Guru Focus)
Chair of the Board & CEO of Salesforce.com Inc., Marc Benioff, sold 20,000 shares of CRM on 03/26/2020 at an average price of $152.76 a share. The total sale was $3.1 million. Salesforce.com Inc is a software-as-a-service company that provides enterprise cloud computing solutions, offering social and mobile cloud apps and platform services, as well as professional services to facilitate the adoption of its solutions.
MoveOn Pushing to Oust Burr Over Alleged Insider Trading on Coronavirus (Washington Times)
MoveOn has waged a new attack campaign against Sen. Richard Burr for allegedly profiting off of non-public information before the stock market cratered in response to the coronavirus outbreak. Mr. Burr is not up for reelection until 2022, but the progressive ad campaign on Facebook and at the Raleigh News & Observer aims to force North Carolina Republican from office immediately. The ads feature a black-and-white photograph of Mr. Burr with one hand colored red to show he was caught red-handed and brand him a “pandemic profiteer.” Mr. Burr, chairman of the Senate Select Committee on Intelligence, reportedly sold approximately $1.7 million in stocks after learning of the coronavirus’s potentially calamitous impact before such information available to him became public knowledge. He also reportedly shared warnings with private donors while publicly espousing America’s preparedness to combat the virus.
Rite Aid Regional VP Settles SEC Walgreens Insider Trading Suit (Bloomberg Law)
A Rite Aid Corp. regional vice president agreed to pay the SEC almost $186,700 on Thursday to end an insider trading lawsuit connected to the company’s plan to merge with Walgreens Boots Alliance Inc. David M. Mahan, who has worked for Rite Aid since 1984, avoided more than $87,000 in losses when he offloaded stock ahead of the news the the planned merger wouldn’t close by late January 2017 as expected, the Securities and Exchange Commission said in the U.S. District Court for the Middle District of Pennsylvania.
Insider Trading, If True of Lawmakers, Must be Punished (Sungazette.com)
Millions of dollars in stock transactions on behalf of five U.S. senators have raised serious questions about their ethics – and whether they broke laws against insider trading. Clearly, the matter needs to be investigated, but not as a witch hunt with the preconceived notion that someone must be guilty of wrongdoing. If the senators did what they are being accused by some of doing – using information about COVID-19 they received because of their positions to profit or avoid stock market losses – the very minimum punishment ought to be removal from office. Much preferred would be prosecution.
