Major company executives have the responsibility and power to set the direction of the business and manage its trajectory. And while many of the daily decisions and meetings of these executives are private and unknown, the trading of their personal company shares is very public. Most times it is not clear why insiders are buying or selling shares of their own company, but it can be an indication of where the stock is heading. Here are the latest corporate insider transactions that you might want to keep your eye on.
Lands’ End, Inc. (NASDAQ:LE)
The popular clothing retailer has seen a positive stock trend over the last three months, where the stock has risen 11.3%. Just recently, one of the owners of the company, Edward Lampert, made two purchases for a total of more than $17,000. Over the last three months, all Lands’ End corporate insiders have purchased shares worth a total of $18.1 million, indicating a positive stock sentiment. In addition to insiders, major hedge funds have also looked upon the stock favorably. During the past quarter, Hedge funds increased their Lands’ End holdings by 1.3 million shares.
Mirati Therapeutics, Inc. (NASDAQ:MRTX)
In the healthcare realm, Mirati Therapeutics has also had some good fortune, as the stock has increased by 3.89% in the last three months. Insiders have been buying millions of dollars worth of shares, including two of the company’s owners just over a week ago. Together, Boxer Capital, Llc and Baker Bros. Advisors LP purchased over $8 million worth of shares. And while analysts might have a Hold rating on the stock, the average price target is $45.00, indicating a 40.36% upside from the stock’s current position.
La Jolla Pharmaceutical Company (NASDAQ:LJPC)
Millions were also spent on La Jolla Pharma by a major shareholder. Two weeks ago, one of the company’s owner, Kevin Tang, purchased over $3 million worth of shares. And in the last three months, insiders have purchased $10.2 million worth of shares, reflecting a positive stock sentiment. The stock is currently experiencing a huge upward swing, rising by 26.01% in the last three months. In addition to insiders, analysts are also keen on the stock, with an overall analyst consensus of Moderate Buy and an average price target of $80.00, reflecting a whopping 163.33% upside.
Will you be following in these insiders’ footsteps and making some moves of your own?