Breaking News
Investing Pro 0
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data

Insider trades this week: amid Carvana collapse, a big insider buy

Stock Markets Nov 26, 2022 06:31PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

Sizable insider moves can serve as useful bellwethers for investors. Here are some of the biggest such moves from the past week, as first reported on InvestingPro+.

Carvana (NYSE:CVNA) Chief Product Officer Daniel Gill acquired 133,000 shares on November 21 at $7.62 for over $1.01 million. Carvana shares have plummeted 96.7% year to date amid shrinking demand for used cars.

Also this week, Cowen significantly reduced Carvana's price target to $10 from $55 per share, stating, "industry & macro headwinds have impacted unit growth and revenue trajectory while lengthening the path to profitability." It also pointed to recent cost-cutting efforts not resulting in the company meeting 2022 profit targets, as well as Carvana's significant debt load.

The stock lost 7.2% for the week to $8.

Helbiz Inc (NASDAQ:HLBZ) shares rose after CEO and founder Salvatore Palella bought 4,019,293 shares at $.1766, to "further underlining his belief in the future of the company and recent changes to the structure." Shares have sunk 96% for the year. They jumped 16.2% for the week to $0.23.

Canoo Inc (NASDAQ:GOEV) stock closed Friday up 4.6% after CEO Tony Aquilla bought over 9 million additional shares of the EV maker. Filings with the SEC showed that on November 9, 2022, Canoo entered into the Subscription Agreement providing for the purchase of an aggregate of 9,009,009 shares of Common Stock at a price of $1.11 per share for an aggregate purchase price of $10.0 million.

Mr. Aquila and AFV-10, a special-purpose vehicle managed by entities affiliated with Mr. Aquila, were purchasers of the shares. Aquilla and related entities now own 62,479,217 shares of Canoo, or 19.2% of the shares outstanding. Canoo shares were off 11.4% to $1.13 for the week.

Sabre (NASDAQ:SABR) CRO Michael Randolfi bought 100,000 shares on 11/22/22 at $4.75-$4.80 per share. The latest purchases brings his stake to 209,170 shares. Shares were down 0.9% for the week to 5.3%.

Sam Boughedda contributed to this article.

Insider trades this week: amid Carvana collapse, a big insider buy
 

Related Articles

Add a Comment

Comment Guidelines

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.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
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.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
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.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email