Insider Buying Alert: These 5 Stocks are Seeing Significant Insider Activity

In this article, we will take a look at the 5 stocks that are seeing significant buy-side insider activity. If you want to explore similar stocks, you can go to Insider Buying Alert: These 10 Stocks are Seeing Significant Insider Activity.

5. Gen Digital Inc. (NASDAQ:GEN)

Number of Hedge Fund Holders: 32

32 hedge funds disclosed having stakes in Gen Digital Inc. (NASDAQ:GEN) at the end of Q1 2023. The total value of these stakes amounted to $963.3 million. As of March 31, Starboard Value LP is the largest shareholder in the company and has a stake worth $324.5 million.

Gen Digital Inc. (NASDAQ:GEN) is placed fifth among the stocks that are seeing significant insider activity right now. On May 17 the company disclosed that its president, Ondrej Vlcek, bought 300,000 company shares at $15.79 per share. The transaction was valued at $4.73 million.

On May 19, Evercore ISI started coverage of Gen Digital Inc. (NASDAQ:GEN) with an Outperform rating and a $27 price target.

4. Paramount Global (NASDAQ:PARA)

Number of Hedge Fund Holders: 34

This May, Evercore ISI analyst Vijay Jayant revised his price target on Paramount Global (NASDAQ:PARA) to $18 from $25 and reiterated an In Line rating on the shares.

Insiders are racking up shares of Paramount Global (NASDAQ:PARA). On May 16 the company disclosed that its director, Shari Redstone, bought 165,000 company shares at $15.06 per share for a total transaction amount of $2.48 million.

At the close of the first quarter of 2023, 34 hedge funds were eager on Paramount Global (NASDAQ:PARA) and held collective positions worth $2.71 billion in the company. This is compared to 38 hedge funds in the previous quarter with stakes worth $2.22 billion. As of March 31, Berkshire Hathaway is the largest stockholder in the company and has a stake worth $2 billion.

3. DISH Network Corporation (NASDAQ:DISH)

Number of Hedge Fund Holders: 35

DISH Network Corporation (NASDAQ:DISH) is experiencing significant buy-side insider activity right now. On May 12 the company reported that its executive vice president, Jim DeFranco, acquired 1 million shares of the company. The transaction was valued at $6.14 million.

This May, TD Cowen updated its price target on DISH Network Corporation (NASDAQ:DISH)  to $32 from $38 and maintained an Outperform rating on the shares.

At the end of the first quarter of 2023, 35 hedge funds were bullish on DISH Network Corporation (NASDAQ:DISH) and disclosed stakes worth $378 million in the company. Of those, Eagle Capital Management is the leading shareholder in the company and has a position worth $139 million.

2. Energy Transfer L.P. (NYSE:ET)

Number of Hedge Fund Holders: 35

Energy Transfer L.P. (NYSE:ET) was spotted on 35 investors’ portfolios at the end of Q1 2023. These funds disclosed collective stakes worth $591 million in the company.

This April, Morgan Stanley analyst Robert Kad updated his price target on Energy Transfer L.P. (NYSE:ET) to $17 from $18 and reiterated an Overweight rating on the shares.

Energy Transfer L.P. (NYSE:ET) is placed second on our list of stocks that are experiencing significant levels of buy-side insider activity. Between May 12 and May 26 the company’s CEO, Kelcy Warren, has purchased 3 million company shares for a total transaction amount of roughly $38 million.

As of March 31, Abrams Capital Management is the most prominent shareholder in the company and has disclosed a position worth $222 million.

1. Toast, Inc. (NYSE:TOST)

Number of Hedge Fund Holders: 48

On May 12 Toast, Inc. (NYSE:TOST) reported that its director, David Yuan, purchased 500,000 company shares for a total transaction amount of $9.91 million. On May 15, Yuan acquired an additional 135,000 company shares. The transaction was valued at $2.62 million. Toast, Inc. (NYSE:TOST) is placed high on our list of the top stocks that insiders are piling into right now.

On May 16, Mizuho analyst Dan Dolev raised his price target on Toast, Inc. (NYSE:TOST) to $25 from $23 and maintained a Buy rating on the shares.

At the end of Q1 2023, 48 hedge funds were long Toast, Inc. (NYSE:TOST) and disclosed stakes worth $1.71 billion in the company. This is compared to 47 positions in the previous quarter with stakes worth $1.54 billion. The hedge fund sentiment for the stock is positive. As of March 31, HMI Capital is the leading investor in the company and has a stake worth $279 million.

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