Ivan Boesky, the financier who coined the infamous phrase ‘greed is good,’ passed away at the age of 87. Once known as a brilliant risk-taker on Wall Street, Boesky became embroiled in one of the most significant insider trading scandals of the 1980s, leading to his indictment and imprisonment. Boesky’s legacy remains intertwined with the rise and fall of the era’s financial excess.
Procter & Gamble’s Chief Human Resources Officer, Purushothaman Balaji, has sold 28,369 shares of the company’s common stock, fetching over $4.5 million. The sale coincides with Balaji’s acquisition of an equal number of shares through option exercise, suggesting a rebalancing of his portfolio. Procter & Gamble, a consumer goods giant with a strong market position, has declined to comment on these specific transactions.
Starbucks Chief Partner Officer, Sara Kelly, recently sold 250 shares of the company’s stock, raising questions about insider trading practices. Despite this, Starbucks stock remains popular, and investors closely monitor executive transactions for clues about its future performance. Starbucks holds a strong global presence in the coffee industry, a substantial market capitalization, and a history of rewarding shareholders.
Salesforce President and Chief Operating Officer Brian Millham has recently engaged in substantial trading activity involving the acquisition and disposal of shares in the software company. According to a recent SEC filing, Millham exercised options to acquire 5,801 shares at varying prices and simultaneously sold a total of 9,542 shares. This trading activity resulted in a net reduction of 4,204 shares in Millham’s direct holdings in Salesforce.
In a recent move, Verint Systems Inc. (NASDAQ: VRNT) Chairman and CEO Dan Bodner sold 35,039 shares of company stock at a price of $30.0 per share, totaling approximately $1.05 million. The sale was made in accordance with a pre-arranged trading plan, known as a Rule 10b5-1(c) plan, which Bodner adopted on December 20, 2022. Following the transaction, Bodner’s direct ownership in Verint Systems stands at 991,748 shares.
Salesforce CEO Marc Benioff has sold over $4.1 million worth of company stock, according to regulatory filings. The sales were made through a predetermined trading plan to avoid accusations of insider trading. Benioff still holds a substantial amount of Salesforce stock both directly and indirectly. Salesforce investors monitor insider transactions for insights into the company’s valuation and outlook.
Baiju Bhatt, a director at Robinhood Markets, Inc. (NASDAQ: HOOD), has sold 16,667 shares of the company’s stock, totaling approximately $285,994. The sale was part of a pre-arranged 10b5-1 trading plan adopted by Bhatt’s Living Trust in September 2023. Following the transaction, Bhatt’s Living Trust now directly holds 36,045 shares of Class A Common Stock and indirectly owns 58,416,704 shares of Class B Common Stock. The sale is part of a planned trading strategy and does not necessarily reflect a change in company outlook.
Aparna Bawa, Chief Operating Officer of Zoom Video Communications, recently sold a significant number of company shares through a planned trading strategy. The sale, which amounted to over $1.3 million, has prompted speculation about its implications for Zoom’s future prospects and the confidence of its leadership team.
Salesforce Inc.’s CEO, Marc Benioff, recently sold $4,064,172 worth of company stock through a pre-established Rule 10b5-1 trading plan. This plan allows insiders to sell stocks automatically without facing insider trading allegations. The sales comprised multiple transactions ranging from $269.6091 to $272.3807 per share. Benioff still holds a substantial number of shares, with 10,000,000 shares held indirectly by the Marc Benioff Fund LLC.
Despite mixed market performance on Friday, several insider trades suggest confidence in the prospects of specific companies. RXO’s 10% owner acquired a significant number of shares, while Harrow’s 10% owner also made purchases. Sunoco, an energy company, saw insider buying as well. These insider purchases indicate potential opportunities for investors to consider.
