InsiderEdge™️ Highlights: October 2024’s Top Insider Trades
In October, InsiderEdge™️ continued delivering invaluable insights into insider trading activity, revealing critical signals for investors. Here are some of the most noteworthy trades from the month:
Wave Life Sciences Ltd. ($WVE)
- Trade Report: On October 2, InsiderEdge reported a 10% Owner’s purchase of 2,791,930 shares at $8.00/share, totaling $22.34M. This acquisition increased their vested holdings by 20.0%.
- Stock Price Activity: Since the InsiderEdge signal, the stock price climbed to $14.83, marking a significant +78.67% gain.
- Implications of the Trade: This was the insider’s 5th largest purchase out of 27 all-time trades, with a median purchase size of $5.85M. Historical returns since similar InsiderEdge signals reveal a 4% weighted 1-month return with a 59% win rate, while the 6-month weighted return stands at 38%, with a 65% win rate.
NerdWallet, Inc. ($NRDS)
- Trade Report: On October 24, InsiderEdge reported that a 10% Owner purchased 461,777 shares at $11.43/share, amounting to $5.28M. This buy increased their vested holdings by 9.6%.
- Stock Price Activity: Following the InsiderEdge signal, the stock appreciated to $15.82, delivering a +43.69% return.
- Implications of the Trade: This was their 2nd largest purchase out of 22 all-time trades, with a median size of $323K. Historical returns since InsiderEdge signals highlight a 58% weighted 3-month return and a 106% median return over 1 year, with an 83% win rate.
Septerna, Inc. ($SEPN)
- Trade Report: On October 29, InsiderEdge reported a 10% Owner’s acquisition of 650,000 shares at $18.00/share, totaling $11.70M. This increased their vested holdings by 16.6%.
- Stock Price Activity: Since the InsiderEdge signal, the stock rose to $26.00, reflecting a +25.30% increase.
- Implications of the Trade: This was their 2nd largest out of 2 all-time trades, with a median purchase size of $15.85M. Historical performance since InsiderEdge signals shows an 8% weighted 1-month return, maintaining a 100% win rate.
Dave & Buster’s Entertainment, Inc. ($PLAY)
- Trade Report: On October 10, InsiderEdge reported the CEO’s purchase of 14,912 shares at $33.67/share, investing $502K. This raised their vested holdings by 10.3%.
- Stock Price Activity: Following the InsiderEdge signal, the stock reached $39.76, representing a +24.44% gain.
- Implications of the Trade: This was the insider’s 2nd largest out of 2 all-time trades, with a median size of $761K. The 1-month weighted return since the InsiderEdge signal was 36%, with a 100% win rate over that time frame.
Byrna Technologies Inc. ($BYRN)
- Trade Report: On October 14, InsiderEdge reported the CFO’s purchase of 2,000 shares at $14.04/share, totaling $28,076.40. This acquisition increased their vested holdings by 400.0%.
- Stock Price Activity: Since the InsiderEdge signal, the stock advanced to $16.90, achieving a +21.06% return.
- Implications of the Trade: This was their largest purchase out of 5 all-time trades, with a median size of $2,655. Over 6 months, historical returns since InsiderEdge signals delivered a weighted return of 20%, maintaining a perfect 100% win rate during that period.
Deciphering the Signals
October’s insider trades showcased significant confidence from corporate insiders, with high-ranking executives making substantial purchases. These trades underscore the potential for growth in their respective companies, as evidenced by subsequent stock price increases.
InsiderEdge™️ remains an essential tool for investors, offering timely updates on insider trading. However, always consider the broader market, company fundamentals, and industry trends before making investment decisions.
Disclaimer: The content provided is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results. Always consult a financial advisor before making investment decisions.
