Large insider buy yesterday

Director Steve Sanghi bought a total of 16,700 shares at an average price of $119.70 yesterday. I’ve confirmed via the SEC filing. There was another report of a large insider buy on 2/15 but I wasn’t able to confirm that one. This is likely the reason for the strength in the stock today vs. a down market.

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When I look into insider trading I use the NASDAQ site. Generally a google query along the lines of nasdaq [ticker] insider trading is all it takes to find it.

I looked at the details for the Sanghi trade you mentioned. The key column there is Shares Held, which is 16,700, exactly the size of the trade. So this was not adding to a position, but initiating one. He is a director of the company, so buying in is not unusual.

The large buy on 2/14 was by SYLEBRA CAPITAL LTD, an investment firm. That was for 40,000 shares. The Shares Held is rather large, 2,768,085. Just four days previous, 02/10/2023, they bought a similar quantity: 39,928.


I was referring to 2 Benzinga articles highlighting large insider trades, they show up on my brokerage account feeds. The one yesterday was accurate, the one on 2/14 was also a Director trade, this one of over 100K shares, but it apparently is not accurate as there is no related SEC filing.

On the Sanghi trade, I disagree, he has been on the board for over a year and was named Chairman last summer. He had ample opportunity to build a position at much lower prices, but chose to buy Thursday. That is significant and I believe the reason for the strength in a very weak market yesterday.

Respectfully, Cooters

Automated feeds often need interpretation. My main purpose was to share how I go about that when insider trades become a question.

Perhaps the missing SEC filings can be found here?