Thursday 4/16 Insider Buying Report: SAMG, RUBY (Nasdaq.com)
On Wednesday, Silvercrest Asset Management Group’s Managing Director, John Allen Gray, made a $99,987 purchase of SAMG, buying 10,475 shares at a cost of $9.55 a piece. Bargain hunters are able to grab SAMG even cheaper than Gray did, with shares trading as low as $8.57 in trading on Thursday — that’s 10.2% under Gray’s purchase price. Silvercrest Asset Management Group is trading off about 0.8% on the day Thursday. This buy marks the first one filed by Gray in the past year. And at Rubius Therapeutics, there was insider buying on Tuesday, by CEO and President Pablo J. Cagnoni who bought 21,000 shares at a cost of $4.70 each, for a trade totaling $98,694. Rubius Therapeutics is trading up about 5.4% on the day Thursday.
The EVP, Chief Legal Officer of Factset Research (NYSE: FDS) is Buying Shares (Analyst Ratings)
Today, the EVP, Chief Legal Officer of Factset Research (FDS), Rachel Rebecca Stern, bought shares of FDS for $601K. Following Rachel Rebecca Stern’s last FDS Buy transaction on October 12, 2016, the stock climbed by 129.1%. This is Stern’s first Buy trade following 10 Sell transactions. Based on Factset Research’s latest earnings report for the quarter ending February 29, the company posted quarterly revenue of $370 million and quarterly net profit of $88.69 million.
Okta Inc (OKTA) CFO William E Losch Sold $4 million of Shares (Guru Focus)
CFO of Okta Inc., William E Losch, sold 30,000 shares of OKTA on 04/13/2020 at an average price of $133.21 a share. The total sale was $4 million. Okta Inc is an identity and access management company. Its products include Universal Directory,Single Sign-On, Adaptive Multi-Factor Authentication, Lifecycle Management, Mobility Management, and API Access Management. Okta Inc has a market cap of $17.49 billion; its shares were traded at around $142.47 with and P/S ratio of 28.57. GuruFocus has detected 1 severe warning sign with Okta Inc.
French Insider-Trading Case Near Collapse on Privacy Ruling (Bloomberg)
(Bloomberg) — France’s biggest insider-trading case may collapse after a court questioned whether evidence used to wiretap the burner phone of a man passing confidential tips from bankers to traders was obtained illegally. The country’s top court said earlier this month that investigators at the Autorité des Marchés Financiers didn’t obtain proper authorization before requesting phone records for the traders at the heart of the probe. But rather than throwing the case out, the judges referred the matter to the European Union Court of Justice to decide whether the failings can be overlooked.
INSIGHT: Senator’s Insider Trading Allegations Can Be Proved (Bloomber Law)
Proving that Sen. Richard Burr (R-N.C.) engaged in insider trading when he traded stocks after a classified Senate briefing will not be difficult if the briefing contained material nonpublic information, writes former DOJ prosecutor Paul Tuchmann, now a partner with Wiggin and Dana. He looks to a novel Second Circuit decision and calls on Congress and the SEC to further clarify the rules. One day after receiving a classified briefing on the impending effects of the Covid-19 pandemic, Sen. Richard Burr (R-N.C.) sold at least $628,000 in stock and avoided significant losses when the value of those stocks then plunged as the pandemic spread to the U.S. Some outraged observers have called for him to be punished for violating the STOCK Act, which was intended to prevent members of Congress from engaging in insider trading.
