Notable Insider Buys Last Week: Snowflake, Broadcom And More, , on September 27, 2020 at 10:07 pm

By ILP
On 09/27/2020
In Financial News
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* Insider buying can be an encouraging signal for potential investors when markets are near all-time highs. * A top semiconductor maker saw a notable insider buy recently. * A couple of chief executive officers picked up some shares last week. Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when markets are near all-time highs.Insiders continued to add shares despite market volatility and economic uncertainty. Here are some of the most noteworthy insider purchases reported in the past week.Last week, a 10% owner had indirectly purchased 420,000 Snowflake Inc. (NYSE: SNOW) at its initial public offering price of $120 per share. That totaled $50.4 million.The shares briefly traded at $319 following the IPO but were last seen at $229.Broadcom Inc. (NASDAQ: AVGO) recently saw a director make a notable buy. More than 101,740 shares were indirectly acquired for $361.45 each. That totaled over $36.77 million. Note that a different director bought a small number of shares earlier this month, and an executive sold 2,000 shares recently.A Kodiak Sciences Inc. (NASDAQ: KOD) beneficial owner returned to the buy window to pick up over 251,100 more shares of this clinical stage biopharmaceutical company. At $49.65 to $58.10 per share, that came to more than $13.22 million. That owner bought almost 323,000 shares earlier this month.The chief executive at Prosperity Bancshares Inc. (NYSE: PB), David Zalman, purchased 8,700 shares via family trust of this Houston-based bank for $49.30 to $49.74 apiece. That totaled more than $431,200. Shares ended last week near the top of that purchase price range.See also: Insider Sells Chubb’s StockA pair of Highwoods Properties Inc. (NYSE: HIW) directors scooped up some shares last week. The 13,000 shares of this North Carolina-based real estate investment trust altogether were priced at $32.69 to $33.79 each. That cost them more than $435,000.The Golub Capital BDC Inc. (NASDAQ: GBDC) board chair, Lawrence Golub, and CEO David Golub together indirectly picked up 80,000 more shares of this business development company last week. At prices ranging from $12.80 to $13.22 per share, that came to almost $1.04 million. They began buying shares in mid-August.Note that some smaller amount of insider buying at Davita Inc. (NYSE: DVA), Hartford Financial Services Group Inc. (NYSE: HIG), Magnolia Oil & Gas Corp. (NYSE: MGY) and NVIDIA Corp. (NASDAQ: NVDA).At the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Barron’s Picks And Pans: Peloton, Truist, Western Digital And More * Bulls And Bears Of The Week: Chevron, Oracle, Twitter And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.,

Notable Insider Buys Last Week: Snowflake, Broadcom And More* Insider buying can be an encouraging signal for potential investors when markets are near all-time highs. * A top semiconductor maker saw a notable insider buy recently. * A couple of chief executive officers picked up some shares last week. Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when markets are near all-time highs.Insiders continued to add shares despite market volatility and economic uncertainty. Here are some of the most noteworthy insider purchases reported in the past week.Last week, a 10% owner had indirectly purchased 420,000 Snowflake Inc. (NYSE: SNOW) at its initial public offering price of $120 per share. That totaled $50.4 million.The shares briefly traded at $319 following the IPO but were last seen at $229.Broadcom Inc. (NASDAQ: AVGO) recently saw a director make a notable buy. More than 101,740 shares were indirectly acquired for $361.45 each. That totaled over $36.77 million. Note that a different director bought a small number of shares earlier this month, and an executive sold 2,000 shares recently.A Kodiak Sciences Inc. (NASDAQ: KOD) beneficial owner returned to the buy window to pick up over 251,100 more shares of this clinical stage biopharmaceutical company. At $49.65 to $58.10 per share, that came to more than $13.22 million. That owner bought almost 323,000 shares earlier this month.The chief executive at Prosperity Bancshares Inc. (NYSE: PB), David Zalman, purchased 8,700 shares via family trust of this Houston-based bank for $49.30 to $49.74 apiece. That totaled more than $431,200. Shares ended last week near the top of that purchase price range.See also: Insider Sells Chubb’s StockA pair of Highwoods Properties Inc. (NYSE: HIW) directors scooped up some shares last week. The 13,000 shares of this North Carolina-based real estate investment trust altogether were priced at $32.69 to $33.79 each. That cost them more than $435,000.The Golub Capital BDC Inc. (NASDAQ: GBDC) board chair, Lawrence Golub, and CEO David Golub together indirectly picked up 80,000 more shares of this business development company last week. At prices ranging from $12.80 to $13.22 per share, that came to almost $1.04 million. They began buying shares in mid-August.Note that some smaller amount of insider buying at Davita Inc. (NYSE: DVA), Hartford Financial Services Group Inc. (NYSE: HIG), Magnolia Oil & Gas Corp. (NYSE: MGY) and NVIDIA Corp. (NASDAQ: NVDA).At the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Barron’s Picks And Pans: Peloton, Truist, Western Digital And More * Bulls And Bears Of The Week: Chevron, Oracle, Twitter And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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