Investing

Six Stocks With Notable Insider Buying: Home Depot, Intel, Overstock and Others

Bret Kenwell

Published: November 25, 2022 4:54 pm

Insider buying always draws interest from investors.

Insiders can sell for a whole host of reasons, including to make other investments, buy a house and pay for life’s expenses. Put simply, insider selling doesn’t have to mean the insider is necessarily bearish on the underlying stock.

However, insiders only buy for one reason and that’s because they believe the stock price is going higher.

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, let’s look at some recent insider buying.

Nerdy (NRDY)

Not a name that many are familiar with, Nerdy (US:NRDY) had a rather large CEO purchase last week.

That’s as Charles Cohn bought 108,204 shares on Friday Nov. 18th and 132,547 shares on Monday Nov. 21st. While it’s a low-priced stock, the purchases were nothing to sneeze at, totaling $254,279 and $310,159, respectively.

He also bought 108,204 shares on both Nov. 16th and Nov. 17th.

With the purchases, Cohn — who also serves on the board of directors and has a more than 10% stake in the firm — now has a stake north of 10,400,000 shares.

Intel (INTC)

In September, Lip-Bu Tan was elected to the board of directors for Intel (US:INTC). Since then, he’s been a busy man.

Tan also serves as the executive chairman of Cadence Design Systems (US:CDNS) and the chairman of Walden International. For his role with Intel, Tan will “join the M&A Committee of Intel’s board of directors.”

As for insider buying, Tan bought roughly 1,800 shares on Nov. 4th and more than 48,000 shares on Nov. 8th. A few days later, on Nov. 16th, Tan bought another 50,000 shares for one of his trusts.

Home Depot (HD)

Home Depot (US:HD) also made the list of insider buying, after Santilli Paula scooped up 1,583 shares on Nov. 16th. Some may scoff at a sub-1,600 share position, but when it’s valued at roughly $500,000, they shouldn’t.

Paula was named to Home Depot’s board of directors in February.

Cronos (CRON)

Cronos (US:CRON) also made the list with insider buying, as Jason Marc Adler has been active in the stock.

Adler is a board member of Cronos and has made eight separate purchases of Cronos stock this month for his Gotham Green Fund III, where he is a co-founder and managing member.

From Nov. 15th to Nov. 18th, Adler purchased more than 390,000 shares of Cronos between $2.90 a share and $3.10 a share.

Wolfspeed (WOLF)

The company formerly known as Cree but now known as Wolfspeed (US:WOLF) makes our list after Duy-Loan Le bought the stock this month.

Between Nov. 1st and 2nd, she bought 3,000 shares between $71.90 and $77.26. A few weeks later, she picked up another 2,000 shares for roughly $91, bringing her total stake to 29,662 shares.

Further, on Nov. 18th, she bought another 3,000 shares through an LLC, where she now owns 5,000 shares.

Overstock (OSTK)

Last but certainly not least on our list of insider buying is Overstock (US:OSTK), as two insider transactions stood out.

Joseph J. Tabacco, Jr. has served on the board of directors since 2007 and scooped up 10,000 shares on Nov. 16th, bringing his total to 86,747 shares.

A day later, CEO Jonathan E. Johnson III — and a board member since 2013 — bought 4,000 shares at $23.13. The move brought his total stake up to 127,134 shares.

This article originally appeared on Fintel.