Investing

Insider Buying at Starbucks, Adobe and 3 Other Stocks

Bret Kenwell

Published: October 3, 2022 8:24 pm

Insiders buying stocks generally indicates a positive outlook from investors most in the know.

As Peter Lynch once said: “Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.”

With that in mind, here are some companies with recent insider buying.

Starbucks (SBUX)

In mid-September, Starbucks (US:SBUX) director Richard Allison bought 10,000 shares at $$92.53 or about  $925,000. Near the same time, nonexecutive chairman Mellody Hobson bought 54,750 shares at $92.57, or about $5 million. Putting $1 million where your mouth is, is one thing, but $5 million? Hobson has some confidence.

Adobe (ADBE)

Adobe (US:ADBE) director and Eli Lilly CEO David Ricks acquired 1,200 shares at $280 each, for a total $330,000.

Adobe CFO Daniel Durn bought 3,250 shares of Adobe on Sept. 22 at $288.11 each, or $936,357.

Nautilus Biotechnology (NAUT)

Smallcap Nautilus Biotechnology (US:NAUT), with just a $265 million market value, saw insider buying too. VP Sankar Subramanian bought 40,000 shares on Sept. 15 and 35,000 on the 16th. He followed that with a 10,000 share purchase on Sept. 26, and on the 27th, he bought another 5,000 shares. He executed the trades between $2.02 and $2.20 a share,

Nautilus Chief People Officer Gwen Weld joined the buying spree and purchased 30,000 shares on Sept. 2302.

Loop TV (LPTV)

Weighing in with a similar market cap to Nautilus, at $250 million, Loop TV (US:LPTV) director Bruce Cassidy acquired 460,000 shares on Sept. 26 for $2.3 million, or $5 a share. Notably, it was the first insider purchase at Loop since April.

United Natural Foods (UNFI)

Last on the list is United Natural Foods (US:UNFI).

On Sept. 29, Chief Executive Douglas Alexander purchased 2,932 shares at an average price of $33.98, or under $100,000. The move lifts his stake to more than 56,000 shares, worth almost $2 million.

United Natural shares rose 6% intraday after Alexander filed his Sept. 30 Form 4 with the US Securities and Exchange Commission but gave up half the gain to close up j2.5%.

This article originally appeared on Fintel