Breaking News

Insider trades & hedge fund moves: Under Armour founder unloads $100M in stock

AuthorDavit Kirakosyan Stock Markets

Published Jun 04, 2023 07:47AM ET

Saved. See Saved Items.

This article has already been saved in your Saved Items

Insider trades & hedge fund moves: Under Armour founder unloads $100M in stock

OXY

+0.53%

Add to/Remove from Watchlist

CNX

+0.23%

Add to/Remove from Watchlist

UAA

-1.15%

Add to/Remove from Watchlist

ALGN

-0.57%

Add to/Remove from Watchlist

BRKa

-0.87%

Add to/Remove from Watchlist

+1.37%

Add to/Remove from Watchlist

By Davit Kirakosyan

Here is your Pro Recap of the biggest insider trades and hedge fund actions you may have missed this week: news out of Under Armour and BDT Capital, Occidental Petroleum and Berkshire Hathaway, and top brass buys at Grocery Outlet, Align Technology , and CNX Resources.

InvestingPro subscribers got this news first. Never miss another market-moving headline.

Under Armour founder Kevin Plank sells $100 million of stock

Under Armour (NYSE:UAA) announced that BDT Capital Partners acquired around 16 million class C shares of Under Armour stock from Kevin Plank, the Executive Chair and Brand Chief. The current value of these shares is approximately $100 million.

Following the sale, Plank remains the largest shareholder of the company, holding approximately 51 million combined shares across the company's three classes (A, B, and C). This represents around 12% of the company's stock and grants him 65% of the voting control. Plank clarified that there are no intentions to sell any more of his shares.

Shares climbed around 10% for the week.

Warren Buffett's Berkshire adds another $270M of Occidental Petroleum stock

Berkshire Hathaway (NYSE:BRKa) disclosed it acquired another 4.66 million common shares of Occidental Petroleum (NYSE:OXY), worth over $270M, at $58.3026-$58.8545.

After the acquisition, Berkshire possesses 221,990,942 ordinary shares of Occidental Petroleum, in addition to 93,532 Series A Preferred Stock and warrants for an additional 83,858,848.81 ordinary shares.

Occidental shares added just under 1% for the week.

3 insider purchases

Grocery Outlet (NASDAQ:GO) shares rose more than 3% on Friday after Director Erik Ragatz disclosed the purchase of 70,000 common shares, or about $2M worth, at $27.99-$29.

Align Technology (NASDAQ:ALGN) shares gained more than 5% on Thursday after Director Kevin Dallas bought 7,000 common shares, or nearly $2M worth, at $285.2572. Dallas owns 12,246 total shares following the purchase.

CNX Resources (NYSE:CNX) Director Bernard Lanigan bought 137,835 common shares, or around $2.1M worth, at $15.2358.

In fast-moving markets, every second counts - and InvestingPro subscribers are always one step ahead with lightning-quick updates.

Start your free 7-day trial now.

Add a Comment

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:

Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
Only English comments will be allowed.
Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

I have read Investing.com's comments guidelines and agree to the terms described.

I Agree

Write your thoughts here

Are you sure you want to delete this chart?

Delete Cancel

Post

Post also to:

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

Please wait a minute before you try to comment again.

Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.

<div id="comment">
				<div class="comment js-comment" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
    <div class="mainComment js-content">
       <div class="commentInnerWrapper">
        <a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody">
                					<span class="commentUsername">
                    	<a href="{userLink}" class="js-user-link js-user-name">{username}</a>
					</span>
                                <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
                <div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

<div class="js-option addRow follow">
            <div class="js-follow-post-button" data-reg_ep="follow comment">
                <span class="alertfollowIcon middle"></span>Follow this post            </div>
            <div class="js-unfollow-post-button displayNoneImp">
                <span class="alertUnfollowIcon middle"></span>Unfollow this post            </div>
        </div>

<div class="addRow js-option save"  data-reg_ep="save comment">
		<a href="javascript:void(0);" class="js-save-item-btn" data-item-type="comments" data-item-id="{commentID}">
			<i class="saveItemBigIcon middle"></i>
			Save		</a>
	</div>
	<div class="addRow saveItemsConfirmation noHover displayNone js-saveItemResult">
		
<div class="content js-saveItemSuccess displayNone">
	<span class="mediumGreenSuccessIcon"></span><span>Saved. See <a href="/members-admin/saved-items" target="_blank">Saved Items</a>.</span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
<div class="content js-saveItemAlreadySaved saveItemAlreadySaved displayNoneImp">
	<span>This comment has already been saved in your <a href="/members-admin/saved-items" target="_blank">Saved Items</a></span>
	<a href="javascript:void(0);" class="bugCloseIcon js-close"></a>
</div>
	</div>

<div class="addRow shareButtons js-sharePopup displayNone">
			<div class="js-shareComment"><span class="js-shareCommentSpan"></span></div>
		</div>
	</div>
</div>
                 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div>             </div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="commentBigChart js-comment-chart" onclick="openViewChartPopup('{commentID}')">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

<div class="reportComment js-flag float_lang_base_2">
                            <a href="javascript:void(0);" id="commentFlag_{commentID}">
                                <span class="reportCommentIcon middle"></span><span class="inlineblock middle">Report</span>
                            </a>
                        </div>
                    				</div>
					</div>
	   </div>
	</div>
	</div>			</div>
			<div id="reply">
				
    <div class="commentReply js-comment js-comment-reply" data-comment-id="{commentID}" id="comment-{commentID}" data-user-id="">
		<div class="commentInnerWrapper"><a href="{userLink}" class="js-user-link"><img src="{userImage}" width="33" height="33" alt="{usernameAlt}" class="img" onerror="this.src='https://i-invdn-com.investing.com/defaultUserMaleTmp.png';"></a><div class="commentBody js-content">
            				<span class="commentUsername">
					<a href="{userLink}" class="commentUsername js-user-link js-user-name" onMouseOver="">{username}</a>
				</span>
                        <span class="js-date" comment-date="{dateFormat}" comment-date-formatted="{dateFormatted}" title="{dateTitle}">Just Now</span>
			 <div class="commentAuthor js-comment-by-author"><span class="commentAuthorIcon"></span>Author's response</div> 			<div class="commentDropDown js-commentDropDownWrapper " data-user-id="" data-cid="{commentID}">
	<a href="javascript:void(0);" class="threeDotsIconSmall js-thinDropdownArrow"></a>
	<div class="tooltipPopup commentActionsPop noHeader js-commentDropDownOptions displayNone">
		<div class="addRow js-option share">
			<a href="javascript:void(0);" class="js-commentSharePopup" data-cid="{commentID}" data-curl="{commentLink}"><span class="smallShareIcon middle"></span>Share</a>
		</div>

</div>
		<div id="commentText-{commentID}" class="js-text-wrapper commentText withImage">
							<div id="commentBigChart{commentID}" class="replyBigChart displayNone js-comment-chart">
					<img src="https://d1-invdn-com.investing.com/comments_images/{commentImage}" alt="{commentAlt}">
					<i class="newMagnifyChartIcon"></i>
				</div>
				<span id="commentSmallChart{commentID}" class="commentSmallChart pointer js-comment-chart" onclick="openViewChartPopup('{commentID}')">
                    <img src="https://d1-invdn-com.investing.com/comments_images/{commentImageSmall}" width="116" height="52" alt="{commentAlt}">
                    <span class="chartMagnifyOverlay displayNone"></span>
                    <span class="searchGlassIcon chartMagnify displayNone"></span>
                </span>
						<span class="js-text">{commentContent}</span>
			<div class="clear"></div>
							<div class="commentButtons js-not-master-user">
					<a href="javascript:void(0)" class="reply js-reply-btn" data-real-parent-id="{commentID}" data-to-user-name="{username}" data-to-user-id="">Reply</a>
					<div class="inlineblock likeDislikeBox js-like-dislike-box" data-item-id="{commentID}">
	<input class="js-like-checkbox" type="checkbox" name="option" value="Yes" id="like_{commentID}">
	<label for="like_{commentID}" class="like" title="I agree"></label>
	<span class="numOfLikes js-like-count lighterGrayFont">0</span>
	<input class="js-dislike-checkbox" type="checkbox" name="option" value="No" id="dislike_{commentID}">
	<label for="dislike_{commentID}" class="dislike" title="I disagree"></label>
	<span class="numOfDislikes js-dislike-count lighterGrayFont">0</span>
</div>

Are you sure you want to delete this chart?

Delete Cancel

Post

Replace the attached chart with a new chart ?

Replace Cancel

1000

Comment Guidelines

Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.

US 30	33,976.0	-94.4	-0.28%
US 500	4,320.9	-9.1	-0.21%
Dow Jones	33,963.84	-106.58	-0.31%
S&P 500	4,320.06	-9.94	-0.23%
Nasdaq	13,211.81	-12.18	-0.09%
S&P 500 VIX	17.20	0.00	0.00%
Dollar Index	105.282	+0.238	+0.23%

Crude Oil WTI	90.33	+0.70	+0.78%
Brent Oil	91.96	+0.53	+0.57%
Natural Gas	2.888	+0.048	+1.69%
Gold	1,944.90	+5.30	+0.27%
Silver	23.820	+0.133	+0.56%
Copper	3.6940	-0.0020	-0.05%
US Soybeans	1,295.25	+1.25	+0.10%

U.S. 10Y	4.438	-0.002	-0.05%
U.S. 30Y	4.529	0.006	0.14%
U.S. 5Y	4.566	-0.005	-0.12%
U.S. 3M	5.482	-0.000	-0.01%
US 10Y T-Note	108.69	+0.27	+0.25%
Euro Bund	129.62	+0.02	+0.02%
10-2 Yield Spread	-67.82	-2.65	4.07%

Apple	174.79	+0.86	+0.49%
Alphabet A	130.25	-0.19	-0.15%
Tesla	244.88	-10.82	-4.23%
Amazon.com	129.12	-0.21	-0.16%
Netflix	379.81	-4.34	-1.13%
Meta Platforms	299.08	+3.35	+1.13%
Bank of America	27.64	-0.41	-1.46%

Insider trades & hedge fund moves: Under Armour founder unloads $100M in stock

Under Armour founder Kevin Plank sells $100 million of stock

Warren Buffett's Berkshire adds another $270M of Occidental Petroleum stock

3 insider purchases

Related Articles