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Insider Buying

    Insider Weekends – August 19, 2016

    Welcome to edition 322 of Insider Weekends. Insider buying increased last week with insiders buying $177.89 million of stock compared to $100.55 million in the week prior. Selling also increased with insiders selling $3.01 billion of stock last week compared to $1.91 billion in the week prior.

    Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week decreased to 16.94. In other words, insiders sold  17 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, when the ratio stood at 19.04. We are calculating an adjusted ratio by removing transactions by funds and companies and trying as best as possible only to retain information about insiders and 10% owners who are not funds or companies.

    Insider Sell Buy Ratio August 19, 2016

    Insider Sell Buy Ratio August 19, 2016

    Note: As mentioned in the first post in this series, certain industries have their preferred metrics such as same store sales for retailers, funds from operations (FFO) for REITs and revenue per available room (RevPAR) for hotels that provide a better basis for comparison than simple valuation metrics. However metrics like Price/Earnings, Price/Sales and Enterprise Value/EBITDA included below should provide a good starting point for analyzing the majority of stocks.

    Notable Insider Buys:

    1. Medpace Holdings, Inc. (MEDP): $28.53

    Shares of this scientifically-driven outsourced clinical development services provider were acquired by 2 insiders:

    • President & CEO August J. Troendle acquired 879,565 shares, paying $23.06 per share for a total amount of $20.28 million. Mr. Troendle increased his stake by 257.29% to 1,221,416 shares with this purchase. 869,565 of these shares were purchased during the IPO and 10,000 shares were purchased indirectly for Mr. Troendle’s son.
    • Sr. Vice President, Operations Susan E. Burwig acquired 19,211 shares, paying $29.21 per share for a total amount of $561,082.

    Medpace priced at the higher end of its IPO range of $20 to $23 on August 11th and was up over 30% from its IPO price over the next three days before settling down for a gain of 24% through the end of last week. The 10,000 shares purchase Dr. Troendle made for his son was at $27.98/share, well above the IPO price.

    Dr. Troendle founded Medpace in 1992 and it is interesting that the company is going public 24 years later with the founder still at the helm. For a company that is no longer a spring chicken, revenue for the first six months of 2016 grew over 20% when compared to the same period last year. You can read the full S-1 filing here.

    You can view the list of recent insider transactions for Medpace Holdings, Inc. here.

    P/E: N/A Forward P/E: N/A Industry P/E: N/A
    P/S: 2.61 Price/Book: 2.14 EV/EBITDA: 12.9
    Market Cap: $931.28M Avg. Daily Volume: 419,150 52 Week Range: $27.13 – $29.98

    2. Penske Automotive Group, Inc. (PAG): $42.57

    Chairman & CEO Roger S. Penske acquired 50,000 shares of this auto dealer, paying $41.36 per share for a total amount of $2.07 million. These shares were purchased indirectly by Penske Automotive Holdings Corp.

    This is the third week in a row purchases by the CEO have made our list of notable insider purchases.

    You can view the list of recent insider transactions for Penske Automotive Group, Inc. here.

    P/E: 11.37 Forward P/E: 10.09 Industry P/E: 12.8
    P/S: 0.18 Price/Book: 2.16 EV/EBITDA: 12.35
    Market Cap: $3.63B Avg. Daily Volume: 807,055 52 Week Range: $29.29 – $53.28

    3. Cavium, Inc. (CAVM): $55.03

    Shares of this semiconductor company were acquired by 2 insiders:

    • Chief Operating Officer Muhammad Raghib Hussain acquired 20,000 shares, paying $51.85 per share for a total amount of $1.04 million. These shares were purchased indirectly through various trusts.
    • VP Finance & Admin CFO Arthur D. Chadwick acquired 10,000 shares, paying $51.94 per share for a total amount of $519,400. Mr. Chadwick increased his stake by 10.77% to 102,845 shares with this purchase.

    You can view the list of recent insider transactions for Cavium, Inc. here.

    P/E: N/A Forward P/E: 20.77 Industry P/E: 42.03
    P/S: 7.4 Price/Book: 8.13 EV/EBITDA: 80.56
    Market Cap: $3.19B Avg. Daily Volume: 1,520,550 52 Week Range: $35.9 – $73.95

    4. Cheniere Energy, Inc. (LNG): $45

    President and CEO Jack A. Fusco acquired 34,223 shares of this liquefied natural gas company, paying $43.83 per share for a total amount of $1.49 million. Mr. Fusco increased his stake by 11.84% to 323,292 shares with this purchase. 17,111 of these shares were purchased indirectly by Fusco Energy Investments, LLP.

    You can view the list of recent insider transactions for Cheniere Energy, Inc. here.

    P/E: N/A Forward P/E: 121.62 Industry P/E: 25.53
    P/S: 26.58 Price/Book: N/A EV/EBITDA: -125.58
    Market Cap: $10.60B Avg. Daily Volume: 2,430,290 52 Week Range: $22.8 – $64.45

    5. LB Foster Co. (FSTR): $11.31

    Shares of this railroads company were acquired by 3 insiders:

    • Director Bradley Vizi acquired 110,272 shares, paying $10.34 per share for a total amount of $1.14 million. These shares were purchased indirectly by Legion Partners, L.P.
    • Director Robert S. Purgason acquired 10,000 shares, paying $11.24 per share for a total amount of $112,400. Mr. Purgason increased his stake by 55.82% to 27,915 shares with this purchase.
    • President and CEO Robert P. Bauer acquired 3,000 shares, paying $9.56 per share for a total amount of $28,690. Mr. Bauer increased his stake by 4.56% to 68,850 shares with this purchase. 2,000 of these shares were purchased indirectly through a trust.

    You can view the list of recent insider transactions for LB Foster Co. here.

    P/E: N/A Forward P/E: 23.56 Industry P/E: 18.09
    P/S: 0.21 Price/Book: 0.65 EV/EBITDA: 6.21
    Market Cap: $117.44M Avg. Daily Volume: 103,888 52 Week Range: $8.8 – $20.77

    You can view the full list of purchases from this Insider Buying page.

    Notable Insider Sales:

    1. Activision Blizzard, Inc. (ATVI): $39.98

    Shares of this video game software company were sold by 4 insiders:

    • Director Brian G. Kelly sold 8,928,376 shares for $40.51, generating $361.69 million, from the sale. These shares were sold indirectly through various trusts and other entities.
    • President and CEO Robert A. Kotick sold 8,571,624 shares for $40.51, generating $347.24 million from the sale. 3,982,849 of these shares were sold indirectly by ASAC II LLC.
    • Chief Operating Officer Thomas Tippl sold 44,427 shares for $41.83, generating $1.86 million from the sale. These shares were sold as a result of exercising options immediately prior to the sale.
    • Chief Executive Officer, King Riccardo Zacconi sold 19,761 shares for $39.63, generating $783,097 from the sale. These shares were sold as a result of exercising options immediately prior to the sale.

    You can view the list of recent insider transactions for Activision Blizzard, Inc. here.

    P/E: 40.26 Forward P/E: 18.51 Industry P/E: 37.36
    P/S: 5.53 Price/Book: 3.47 EV/EBITDA: 21.33
    Market Cap: $29.64B Avg. Daily Volume: 9,624,320 52 Week Range: $24.04 – $43.05

    2. Wingstop Inc. (WING): $31.01

    Director Neal K. Aronson sold 6,000,000 shares of this restaurant chain for $28.50, generating $171 million from the sale. These shares were sold indirectly by by RC II WS LLC.

    You can view the list of recent insider transactions for Wingstop Inc. here.

    P/E: 59.07 Forward P/E: 50.02 Industry P/E: N/A
    P/S: 10.78 Price/Book: N/A EV/EBITDA: 31.68
    Market Cap: $890.86M Avg. Daily Volume: 359,609 52 Week Range: $20.31 – $33.1

    3. World Wrestling Entertainment Inc. (WWE): $20.93

    Shares of this entertainment company were sold by 3 insiders:

    • Chief Executive Officer Vincent K. McMahon sold 1,547,372 shares for $19.32, generating $29.89 million from the sale. These shares were sold as a result of exercising options immediately prior to the sale.
    • Executive Producer & Chief Glo Kevin Dunn sold 56,000 shares for $20.55, generating $1.15 million from the sale.
    • Chief Revenue & Marketing Off Michelle D. Wilson sold 27,900 shares for $20.88, generating $582,552 from the sale.

    You can view the list of recent insider transactions for World Wrestling Entertainment Inc. here.

    P/E: 67.3 Forward P/E: 32.7 Industry P/E: 20.39
    P/S: 2.27 Price/Book: 7.33 EV/EBITDA: 21.42
    Market Cap: $1.60B Avg. Daily Volume: 425,181 52 Week Range: $14.2 – $21.39

    4. Apple Inc. (AAPL): $109.36

    Shares of Apple were sold by 4 insiders:

    • Senior Vice President Craig Federighi sold 90,153 shares for $109.15, generating $9.84 million from the sale.
    • SVP, Gen’l Counsel, Secretary D. Bruce Sewell sold 24,000 shares for $110.11, generating $2.64 million from the sale.
    • Senior Vice President, CFO Luca Maestri sold 11,021 shares for $108.93, generating $1.2 million from the sale.
    • Senior Vice President Johny Srouji sold 9,827 shares for $108.44, generating $1.07 million from the sale.

    You can view the list of recent insider transactions for Apple Inc. here.

    P/E: 12.75 Forward P/E: 12.27 Industry P/E: 21.2
    P/S: 2.67 Price/Book: 4.65 EV/EBITDA: 8.27
    Market Cap: $589.28B Avg. Daily Volume: 33,911,100 52 Week Range: $89.47 – $123.82

    5. ServiceNow, Inc. (NOW): $73.69

    Shares of this software-as-a-service provider were sold by 2 insiders:

    • Chief Product Officer Frederic B. Luddy sold 154,000 shares for $75.67, generating $11.65 million from the sale. These shares were sold indirectly through a trust.
    • Chief Revenue Officer David Schneider sold 2,803 shares for $75.53, generating $211,711 from the sale.

    You can view the list of recent insider transactions for ServiceNow, Inc. here.

    P/E: N/A Forward P/E: 71.54 Industry P/E: 21
    P/S: 10.07 Price/Book: 37.07 EV/EBITDA: -129.06
    Market Cap: $12.12B Avg. Daily Volume: 1,472,820 52 Week Range: $46 – $91.28

    You can view the full list of sales from this Insider Sales page.

    Disclaimer: I do not have any positions in any of the stocks mentioned in this article. Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.

    Connect with me on LinkedIn: http://www.linkedin.com/in/asifsuria or follow me on Twitter @asifsuria

    Insider Weekends – August 12, 2016

    Welcome to edition 321 of Insider Weekends. Insider buying increased last week with insiders buying $100.55 million of stock compared to $78.59 million in the week prior. Selling declined with insiders selling $1.91 billion of stock last week compared to $2.12 billion in the week prior.

    Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week decreased to 19.04. In other words, insiders sold  more than 19 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, when the ratio stood at 26.92. We are calculating an adjusted ratio by removing transactions by funds and companies and trying as best as possible only to retain information about insiders and 10% owners who are not funds or companies.

    Insider Sell Buy Ratio August 12, 2016

    Insider Sell Buy Ratio August 12, 2016

    Note: As mentioned in the first post in this series, certain industries have their preferred metrics such as same store sales for retailers, funds from operations (FFO) for REITs and revenue per available room (RevPAR) for hotels that provide a better basis for comparison than simple valuation metrics. However metrics like Price/Earnings, Price/Sales and Enterprise Value/EBITDA included below should provide a good starting point for analyzing the majority of stocks.

    Notable Insider Buys:

    1. Netflix, Inc. (NFLX): $96.59

    Director Jay C. Hoag acquired 300,000 shares of Netflix, paying $94.31 per share for a total amount of $28.29 million. These shares were purchased indirectly through various Technology Crossover Ventures (TCV) funds.

    We normally exclude transactions by funds and venture capital firms but decided to make an exception just liked we did two weeks ago because of Mr. Hoag’s history of insider purchases. We wrote the following after his earlier purchases of Netflix,

    TCV is a well known venture capital company that mostly invests in private companies but sometimes ventures into public markets. The company first invested in Netflix (NFLX) back in 1999 and Mr. Hoag’s purchase of Netflix shares in May 2012 at prices in the low $70′s (pre-split) were one of the best instances of insider purchases I have seen since I started tracking this data more than 5 years ago. Netflix shares had dropped dramatically before Mr. Hoag’s purchases on news that the company was going to split itself a DVD mailing service called Qwikster and a streaming service. Much to the relief of investors, the company eventually abandoned that plan and the stock eventually went up 10 fold. Unfortunately for TCV, they did not hold through that entire 1,000%+ increase.

    We also reported on Mr. Hoag’s purchases of Zillow (Z) earlier this year on behalf of TCV at an average price of $19.98. The stock has almost doubled since his purchase five months ago.”

    You can view the list of recent insider transactions for Netflix, Inc. here.

    P/E: 301.84 Forward P/E: 108.53 Industry P/E: 36.96
    P/S: 5.39 Price/Book: 17.02 EV/EBITDA: 133.67
    Market Cap: $41.41B Avg. Daily Volume: 12,376,200 52 Week Range: $79.95 – $133.27

    2. Western Refining, Inc. (WNR): $24.1

    Chairman of BOD, Exec. Chair Paul L. Foster acquired 325,000 shares of this oil and gas pipelines company, paying $23.59 per share for a total amount of $7.67 million. Mr. Foster increased his stake by 10.45% to 3,434,466 shares with this purchase.

    According to the filing Mr. Foster gifted 325,000 shares to a “non-profit educational organization” and then purchased 325,000 shares on the open market. Based on his history of donating to Baylor University, it is possible that this $7.67 gift was also made to Baylor University.

    You can view the list of recent insider transactions for Western Refining, Inc. here.

    P/E: 8.56 Forward P/E: 14.35 Industry P/E: 13.6
    P/S: 0.31 Price/Book: 1.52 EV/EBITDA: 5.53
    Market Cap: $2.61B Avg. Daily Volume: 3,462,750 52 Week Range: $18.14 – $49.95

    3. Penske Automotive Group, Inc. (PAG): $41.28

    Chairman & CEO Roger S. Penske acquired 151,412 shares of this auto dealer, paying $39.85 per share for a total amount of $6.03 million. These shares were purchased indirectly by Penske Automotive Holdings Corp.

    We also reported on a $36.44 million purchase by Mr. Penske last week and a reader left a comment on that article wondering if it was possible for a single individual to purchase $36.44 million worth of stock. Considering the holding company that acquired this stock already had 30.63 million shares prior to that large  purchase and Mr. Penske’s net worth was reported to be close to $2 billion last year, it is indeed very much possible.

    The bigger question is whether Mr. Penske would be buying if we were indeed at “peak auto” as Ford (F) appeared to indicate in its last earnings call and that the CEO of Macy’s (M) was hoping for when he made his “it’s my turn, it’s our turn” comment on Nightly Business Report this week.

    You can view the list of recent insider transactions for Penske Automotive Group, Inc. here.

    P/E: 11.03 Forward P/E: 9.74 Industry P/E: 12.8
    P/S: 0.18 Price/Book: 2.07 EV/EBITDA: 12.18
    Market Cap: $3.52B Avg. Daily Volume: 772,572 52 Week Range: $29.29 – $54.1

    4. SteadyMed Ltd. (STDY): $3.25

    Shares of this specialty pharmaceutical company were acquired by 2 insiders:

    • Director Brian Jay Stark acquired 1,310,803 shares, paying $3.13 per share for a total amount of $4.1 million. Mr. Stark increased his stake by 108.53% to 2,518,633 shares with this purchase. 371,375 of these shares were purchased indirectly by Brown Bear Holdings LP and Stark Raving Mad LLC.
    • Director Keith Bank acquired 266,257 shares, paying $3.13 per share for a total amount of $833,384. These shares were purchased indirectly by SteadyMed Investors III LLC.

    You can view the list of recent insider transactions for SteadyMed Ltd. here.

    P/E: N/A Forward P/E: N/A Industry P/E: N/A
    P/S: 35.6 Price/Book: 1.97 EV/EBITDA: -0.77
    Market Cap: $44.15M Avg. Daily Volume: 12,313 52 Week Range: $2 – $5.21

    5. Gogo Inc. (GOGO): $11.18

    Shares of this provider of WiFi services to airlines were acquired by 3 insiders:

    • Director Charles C. Townsend acquired 200,000 shares, paying $10.73 per share for a total amount of $2.15 million. These shares were purchased indirectly through a trust.
    • President and CEO Michael Small acquired 50,000 shares, paying $10.37 per share for a total amount of $518,635. Mr. Small increased his stake by 25.66% to 244,832 shares with this purchase.
    • EVP and CCO Ash A. Eldifrawi acquired 50,000 shares, paying $10.56 per share for a total amount of $528,020. Mr. Eldifrawi increased his stake by 178.02% to 78,087 shares with this purchase.

    You can view the list of recent insider transactions for Gogo Inc. here.

    P/E: N/A Forward P/E: N/A Industry P/E: 23.73
    P/S: 1.77 Price/Book: 98.02 EV/EBITDA: 22.89
    Market Cap: $963.46M Avg. Daily Volume: 1,673,040 52 Week Range: $7.8 – $19.61

    You can view the full list of purchases from this Insider Buying page.

    Notable Insider Sales:

    1. Facebook, Inc. (FB): $124.88

    Director Jan Koum sold 566,668 shares of Facebook for $125.46, generating $71.09 million from the sale. These shares were sold indirectly through a trust.

    You can view the list of recent insider transactions for Facebook, Inc. here.

    P/E: 59.69 Forward P/E: 24.83 Industry P/E: 27.67
    P/S: 16.19 Price/Book: 7.09 EV/EBITDA: 30.28
    Market Cap: $358.61B Avg. Daily Volume: 21,048,700 52 Week Range: $72 – $128.33

    2. O’Reilly Automotive Inc. (ORLY): $286.73

    Shares of this auto parts retailer were sold by 3 insiders:

    • Chairman of the Board David E. O’Reilly sold 140,000 shares for $290.27, generating $40.64 million from the sale. 35,000 of these shares were sold as a result of exercising options immediately prior to the sale.
    • Director Rosalie O’Reilly Wooten sold 10,000 shares for $290.20, generating $2.9 million from the sale.
    • Director Lawrence P. O’Reilly sold 6,000 shares for $290.34, generating $1.74 million from the sale.

    You can view the list of recent insider transactions for O’Reilly Automotive Inc. here.

    P/E: 28.5 Forward P/E: 23.29 Industry P/E: 25.82
    P/S: 3.29 Price/Book: 16.17 EV/EBITDA: 15.57
    Market Cap: $27.22B Avg. Daily Volume: 700,764 52 Week Range: $225.12 – $292.84

    3. Parsley Energy, Inc. (PE): $33.85

    Shares of this independent oil and natural gas company were sold by 5 insiders:

    • Director, President and Chief Executive Officer Bryan Sheffield sold 1,100,000 shares for $32.15, generating $35.37 million from the sale.
    • Vice President-Chief Operating Officer Matthew Gallagher sold 45,000 shares for $32.64, generating $1.47 million from the sale.
    • Vice President Corporate Development Mike Hinson sold 25,000 shares for $32.87, generating $821,750 from the sale.
    • Vice President-General Counsel Colin Roberts sold 25,000 shares for $32.77, generating $819,250 from the sale.
    • Director David Henry Smith sold 6,250 shares for $32.99, generating $206,188 from the sale.

    You can view the list of recent insider transactions for Parsley Energy, Inc. here.

    P/E: N/A Forward P/E: 78.72 Industry P/E: N/A
    P/S: 18.95 Price/Book: 3.06 EV/EBITDA: 31.11
    Market Cap: $5.80B Avg. Daily Volume: 2,888,910 52 Week Range: $13.29 – $34.08

    4. Antero Resources Corporation (AR): $27.42

    Shares of this independent oil and natural gas company were sold by 2 insiders:

    • See Remarks Glen C. Warren Jr. sold 1,000,000 shares for $27.38, generating $27.38 million from the sale.
    • See Remarks Ward D. McNeilly sold 28,037 shares for $27.35, generating $766,893 from the sale.

    You can view the list of recent insider transactions for Antero Resources Corporation here.

    P/E: 84.63 Forward P/E: 94.55 Industry P/E: 8.36
    P/S: 5.17 Price/Book: 1.31 EV/EBITDA: 9.52
    Market Cap: $8.42B Avg. Daily Volume: 3,722,880 52 Week Range: $18.5 – $30.66

    5. First Solar, Inc. (FSLR): $38.79

    Shares of this solar energy provider were sold by 8 insiders:

    • Director James Alton Hughes sold 180,448 shares for $44.43, generating $8.02 million from the sale.
    • Chief Commercial Officer Georges Antoun sold 133,761 shares for $44.54, generating $5.96 million from the sale.
    • Chief Executive Officer Mark R. Widmar sold 90,289 shares for $44.53, generating $4.02 million from the sale.
    • Chief Technology Officer Raffi Garabedian sold 90,000 shares for $44.22, generating $3.98 million from the sale.
    • Chief Operating Officer Philip Dejong sold 67,251 shares for $44.28, generating $2.98 million from the sale.
    • EVP, Human Resources Christopher Bueter sold 29,384 shares for $44.23, generating $1.29 million from the sale.
    • EVP, General Counsel Paul J. Kaleta sold 20,343 shares for $44.53, generating $905,874 from the sale.
    • Chief Financial Officer Alexander R. Bradley sold 566 shares for $43.77, generating $24,774 from the sale.

    You can view the list of recent insider transactions for First Solar, Inc. here.

    P/E: 5.71 Forward P/E: 14.98 Industry P/E: 24.37
    P/S: 1 Price/Book: 0.69 EV/EBITDA: 2.52
    Market Cap: $3.97B Avg. Daily Volume: 2,646,620 52 Week Range: $36.83 – $74.29

    You can view the full list of sales from this Insider Sales page.

    Disclaimer: I do not have any positions in any of the stocks mentioned in this article. Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.

    Connect with me on LinkedIn: http://www.linkedin.com/in/asifsuria or follow me on Twitter @asifsuria

    Insider Weekends – August 5, 2016

    Welcome to edition 320 of Insider Weekends. Insider buying decreased last week with insiders buying $78.59 million of stock compared to $118.43 million in the week prior. Selling remained unchanged with insiders selling $2.12 billion of stock last week compared to $2.12 billion in the week prior.

    Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week increased to 26.92. In other words, insiders sold  almost 27 times as much stock as they purchased. The Sell/Buy ratio this week compares unfavorably with the prior week, when the ratio stood at 17.88. We are calculating an adjusted ratio by removing transactions by funds and companies and trying as best as possible only to retain information about insiders and 10% owners who are not funds or companies.

    Insider Sell Buy Ratio August 5, 2016

    Insider Sell Buy Ratio August 5, 2016

    Note: As mentioned in the first post in this series, certain industries have their preferred metrics such as same store sales for retailers, funds from operations (FFO) for REITs and revenue per available room (RevPAR) for hotels that provide a better basis for comparison than simple valuation metrics. However metrics like Price/Earnings, Price/Sales and Enterprise Value/EBITDA included below should provide a good starting point for analyzing the majority of stocks.

    Notable Insider Buys:

    1. Penske Automotive Group, Inc. (PAG): $40

    Chairman & CEO Roger S. Penske acquired 930,753 shares of this auto dealer, paying $39.16 per share for a total amount of $36.44 million. These shares were purchased indirectly by Penske Automotive Holdings Corp.

    You can view the list of recent insider transactions for Penske Automotive Group, Inc. here.

    P/E: 10.68 Forward P/E: 9.55 Industry P/E: 11.98
    P/S: 0.17 Price/Book: 1.98 EV/EBITDA: N/A
    Market Cap: $3.41B Avg. Daily Volume: 748,547 52 Week Range: $29.29 – $54.24

    2. Quotient Limited (QTNT): $6.25

    Shares of this commercial-stage diagnostics company were acquired by 3 insiders:

    • Director L. John Wilkerson acquired 180,000 shares, paying $5.50 per share for a total amount of $990,000. These shares were purchased indirectly by Galen Partners International.
    • 10% Owner Deidre Cowan acquired 45,455 shares, paying $5.50 per share for a total amount of $250,003. These shares were purchased indirectly by Quotient Biodiagnostics Group Limited. Ms. Cowan is the spouse of Paul E. Cowan, the CEO of Quotient.

    You can view the list of recent insider transactions for Quotient Limited here.

    P/E: N/A Forward P/E: N/A Industry P/E: N/A
    P/S: 4.8 Price/Book: 3.37 EV/EBITDA: -2.01
    Market Cap: $164.15M Avg. Daily Volume: 39,725 52 Week Range: $5.67 – $17.9

    3. Royal Caribbean Cruises Ltd. (RCL): $74.48

    Chairman & CEO Richard D. Fain acquired 29,190 shares of this cruise company, paying $68.52 per share for a total amount of $1.99 million. Mr. Fain increased his stake by 2.81% to 1,068,881 shares with this purchase.

    You can view the list of recent insider transactions for Royal Caribbean Cruises Ltd. here.

    P/E: 21.26 Forward P/E: 10.61 Industry P/E: 24.31
    P/S: 1.87 Price/Book: 1.94 EV/EBITDA: 11.66
    Market Cap: $16.03B Avg. Daily Volume: 2,285,620 52 Week Range: $64.21 – $103.4

    4. Infinera Corporation (INFN): $9.36

    Shares of this networking equipment company were acquired by 4 insiders:

    • Chief Executive Officer Thomas J. Fallon acquired 100,000 shares, paying $8.54 per share for a total amount of $853,550. These shares were purchased indirectly.
    • Director Marcel Gani acquired 50,000 shares, paying $8.60 per share for a total amount of $430,215. Mr. Gani increased his stake by 133.17% to 87,547 shares with this purchase.
    • Chief Financial Officer Brad Feller acquired 20,000 shares, paying $8.60 per share for a total amount of $172,000. Mr. Feller increased his stake by 22.32% to 109,586 shares with this purchase.
    • Director John Daane acquired 12,000 shares, paying $8.49 per share for a total amount of $101,880.

    These purchases follow purchases by the CEO and CFO in March of this year. The stock was down nearly 65% over the last year  but rebounded following the release of second quarter earnings last week and this cluster of purchases.

    You can view the list of recent insider transactions for Infinera Corporation here.

    P/E: 30.99 Forward P/E: 21.77 Industry P/E: 29.87
    P/S: 1.3 Price/Book: 1.6 EV/EBITDA: 10.3
    Market Cap: $1.34B Avg. Daily Volume: 3,007,300 52 Week Range: $8.2 – $25.24

    5. Southwest Airlines Co. (LUV): $37.85

    Shares of this airline were acquired by 3 insiders:

    • COB, Pres., & CEO Gary C. Kelly acquired 28,106 shares, paying $35.58 per share for a total amount of $1 million. These shares were purchased indirectly through a trust.
    • Director William H. Cunningham acquired 5,700 shares, paying $35.80 per share for a total amount of $204,046. Mr. Cunningham increased his stake by 10.53% to 59,839 shares with this purchase.
    • EVP & Chief Operating Officer Michael G. Van De Ven acquired 4,200 shares, paying $35.77 per share for a total amount of $150,247. Mr. Ven increased his stake by 2.29% to 187,345 shares with this purchase.

    You can view the list of recent insider transactions for Southwest Airlines Co. here.

    P/E: 10.04 Forward P/E: 9.61 Industry P/E: 9.01
    P/S: 1.11 Price/Book: 2.89 EV/EBITDA: 4.13
    Market Cap: $23.48B Avg. Daily Volume: 7,323,970 52 Week Range: $32.94 – $51.34

    You can view the full list of purchases from this Insider Buying page.

    Notable Insider Sales:

    1. Amazon.com, Inc. (AMZN): $765.98

    Shares of Amazon were sold by 2 insiders:

    • Chairman, CEO and President Jeffrey P. Bezos sold 1,000,000 shares for $756.74, generating $756.74 million from the sale.
    • Senior Vice President Jeffrey M. Blackburn sold 10,000 shares for $760.98, generating $7.61 million from the sale.

    You can view the list of recent insider transactions for Amazon.com, Inc. here.

    P/E: 190.49 Forward P/E: 74.08 Industry P/E: 38.97
    P/S: 2.99 Price/Book: 21.8 EV/EBITDA: 35.35
    Market Cap: $363.13B Avg. Daily Volume: 3,582,020 52 Week Range: $451 – $770.5

    2. GrubHub Inc. (GRUB): $38.76

    Shares of this online restaurant delivery service were sold by 3 insiders:

    • Director Benjamin C. Spero sold 1,968,007 shares for $38.84, generating $76.43 million from the sale. These shares were sold indirectly through a fund.
    • CEO and President Matthew M. Maloney sold 92,666 shares for $38.34, generating $3.55 million from the sale. 1,649 of these shares were sold as a result of exercising options immediately prior to the sale.
    • SVP, Secretary, Gen Counsel Margo Drucker sold 5,500 shares for $38.17, generating $209,917 from the sale. These shares were sold as a result of exercising options immediately prior to the sale.

    You can view the list of recent insider transactions for GrubHub Inc. here.

    P/E: 80.75 Forward P/E: 36.57 Industry P/E: 27.13
    P/S: 7.83 Price/Book: 3.57 EV/EBITDA: 31.52
    Market Cap: $3.28B Avg. Daily Volume: 2,047,750 52 Week Range: $17.77 – $39.53

    3. Knight Transportation Inc. (KNX): $29.55

    Executive Chairman Kevin P. Knight sold 1,000,000 shares of this trucking company for $29.15, generating $29.15 million from the sale. These shares were sold indirectly through a trust.

    You can view the list of recent insider transactions for Knight Transportation Inc. here.

    P/E: 22.54 Forward P/E: 21.89 Industry P/E: 16.45
    P/S: 2.02 Price/Book: 3.08 EV/EBITDA: 8.89
    Market Cap: $2.37B Avg. Daily Volume: 967,758 52 Week Range: $20.56 – $30.38

    4. Glaukos Corporation (GKOS): $33.04

    Director Jonathan Silverstein sold 425,000 shares of this ophthalmic medical technology company for $30.59, generating $13,000,750 from the sale. These shares were sold indirectly by OrbiMed Capital.

    You can view the list of recent insider transactions for Glaukos Corporation here.

    P/E: N/A Forward P/E: 236 Industry P/E: N/A
    P/S: 12.03 Price/Book: 10.4 EV/EBITDA: 295.48
    Market Cap: $1.09B Avg. Daily Volume: 384,856 52 Week Range: $14.25 – $36.5

    5. Celgene Corporation (CELG): $115.53

    Executive Chairman Robert J. Hugin sold 100,000 shares of this biotech company for $110.00, generating $11 million from the sale.

    You can view the list of recent insider transactions for Celgene Corporation here.

    P/E: 48.83 Forward P/E: 16.46 Industry P/E: 29.41
    P/S: 8.87 Price/Book: 16.24 EV/EBITDA: 25.96
    Market Cap: $89.55B Avg. Daily Volume: 4,514,070 52 Week Range: $92.98 – $132.6

    You can view the full list of sales from this Insider Sales page.

    Disclaimer: I do not have any positions in any of the stocks mentioned in this article. Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.

    Connect with me on LinkedIn: http://www.linkedin.com/in/asifsuria or follow me on Twitter @asifsuria

    Insider Weekends – July 29, 2016

    Welcome to edition 319 of Insider Weekends. Insider buying increased significantly last week with insiders buying $118.43 million of stock compared to $29.17 million in the week prior. Selling also increased with insiders selling $2.12 billion of stock last week compared to $757.96 million in the week prior. Almost half the insider selling this week was related to ValueAct liquidating nearly a third of their position in Microsoft as discussed below.

    Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week decreased to 17.88. In other words, insiders sold  almost 18 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, when the ratio stood at 25.98. We are calculating an adjusted ratio by removing transactions by funds and companies and trying as best as possible only to retain information about insiders and 10% owners who are not funds or companies.

    Insider Sell Buy Ratio July 29, 2016

    Insider Sell Buy Ratio July 29, 2016

    Note: As mentioned in the first post in this series, certain industries have their preferred metrics such as same store sales for retailers, funds from operations (FFO) for REITs and revenue per available room (RevPAR) for hotels that provide a better basis for comparison than simple valuation metrics. However metrics like Price/Earnings, Price/Sales and Enterprise Value/EBITDA included below should provide a good starting point for analyzing the majority of stocks.

    Notable Insider Buys:

    1. Netflix, Inc. (NFLX): $91.25

    Director Jay C. Hoag acquired 600,000 shares of Netflix, paying $86.43 per share for a total amount of $51.86 million. These shares were purchased indirectly through various Technology Crossover Ventures (TCV) funds.

    We normally exclude transactions by funds and venture capital firms but decided to make an exception in this case because of Mr. Hoag’s history of insider purchases.

    TCV is a well known venture capital company that mostly invests in private companies but sometimes ventures into public markets. The company first invested in Netflix (NFLX) back in 1999 and Mr. Hoag’s purchase of Netflix shares in May 2012 at prices in the low $70′s (pre-split) were one of the best instances of insider purchases I have seen since I started tracking this data more than 5 years ago. Netflix shares had dropped dramatically before Mr. Hoag’s purchases on news that the company was going to split itself a DVD mailing service called Qwikster and a streaming service. Much to the relief of investors, the company eventually abandoned that plan and the stock eventually went up 10 fold. Unfortunately for TCV, they did not hold through that entire 1,000%+ increase.

    We also reported on Mr. Hoag’s purchases of Zillow (Z) earlier this year on behalf of TCV at an average price of $19.98. The stock has almost doubled since his purchase five months ago.

    You can view the list of recent insider transactions for Netflix, Inc. here.

    P/E: 285.16 Forward P/E: 102.53 Industry P/E: 39.97
    P/S: 5.15 Price/Book: 16.26 EV/EBITDA: 126.38
    Market Cap: $39.12B Avg. Daily Volume: 12,750,800 52 Week Range: $79.95 – $133.27

    2. Abbott Laboratories (ABT): $44.75

    Chairman and CEO Miles D. White acquired 731,500 shares of this medical appliances & equipment company, paying $43.23 per share for a total amount of $31.62 million. Mr. White increased his stake by 36.38% to 2,742,017 shares with this purchase.

    You can view the list of recent insider transactions for Abbott Laboratories here.

    P/E: 29.54 Forward P/E: 18.27 Industry P/E: 29.34
    P/S: 3.18 Price/Book: 3.15 EV/EBITDA: 15.8
    Market Cap: $65.74B Avg. Daily Volume: 11,048,800 52 Week Range: $36 – $51.17

    3. Fairmount Santrol Holdings Inc. (FMSA): $6.85

    Director Charles D. Fowler acquired 1,666,666 shares of this sand-based proppant solutions provider, paying $5.95 per share for a total amount of $9.92 million. Mr. Fowler increased his stake by 4332.83% to 1,705,132 shares with this purchase.

    You can view the list of recent insider transactions for Fairmount Santrol Holdings Inc. here.

    P/E: N/A Forward P/E: N/A Industry P/E: 18.72
    P/S: 1.57 Price/Book: N/A EV/EBITDA: 29.2
    Market Cap: $1.28B Avg. Daily Volume: 2,099,950 52 Week Range: $1 – $8.83

    4. General Electric Company (GE): $31.14

    Chairman and CEO Jeffrey R. Immelt acquired 50,000 shares of General Electric, paying $31.45 per share for a total amount of $1.57 million. Mr. Immelt increased his stake by 2.33% to 2,198,688 shares with this purchase.

    You can view the list of recent insider transactions for General Electric Company here.

    P/E: 26.3 Forward P/E: 18 Industry P/E: 23.31
    P/S: 2.33 Price/Book: 3.34 EV/EBITDA: 24.05
    Market Cap: $286.35B Avg. Daily Volume: 35,556,100 52 Week Range: $19.37 – $33

    5. Delta Air Lines, Inc. (DAL): $38.75

    EVP & CFO Paul A. Jacobson acquired 25,000 shares of this airline, paying $38.91 per share for a total amount of $972,770. Mr. Jacobson increased his stake by 8.23% to 328,631 shares with this purchase.

    You can view the list of recent insider transactions for Delta Air Lines, Inc. here.

    P/E: 6.31 Forward P/E: 6.59 Industry P/E: 9.39
    P/S: 0.74 Price/Book: 2.53 EV/EBITDA: 4.1
    Market Cap: $28.95B Avg. Daily Volume: 11,665,800 52 Week Range: $32.6 – $52.77

    You can view the full list of purchases from this Insider Buying page.

    Notable Insider Sales:

    1. Microsoft Corporation (MSFT): $56.68

    Shares of Microsoft were sold by 2 insiders:

    • Director Mason Morfit sold 18,000,000 shares for $56.12, generating $1.01 billion from the sale. These shares were sold indirectly by ValueAct Capital Master Fund.
    • Founder Bill Gates sold 8,000,000 shares for $56.28, generating $450.22 million from the sale.

    ValueAct sold a whole lot more than Mr. Gates’ large periodic sales and liquidated nearly a third of their position in Microsoft. With offices in San Francisco and Boston, the fund prefers taking concentrated positions in a limited number of companies that are fundamentally undervalued.

    You can view the list of recent insider transactions for Microsoft Corporation here.

    P/E: 26.99 Forward P/E: 17.6 Industry P/E: 29.48
    P/S: 5.14 Price/Book: 6.1 EV/EBITDA: 13.74
    Market Cap: $442.56B Avg. Daily Volume: 31,773,900 52 Week Range: $39.72 – $57.29

    2. Nucor Corporation (NUE): $53.64

    Shares of this steel company were sold by 5 insiders:

    • Executive Vice President Ladd R. Hall sold 92,291 shares for $52.40, generating $4.84 million from the sale. 52,631 of these shares were sold as a result of exercising options immediately prior to the sale.
    • Executive Vice President James R. Darsey sold 71,465 shares for $52.45, generating $3.75 million from the sale. 52,631 of these shares were sold as a result of exercising options immediately prior to the sale.
    • Chairman, President and CEO John J. Ferriola sold 12,128 shares for $54.12, generating $656,345 from the sale.
    • Executive Vice President Raymond S. Napolitan sold 10,000 shares for $52.39, generating $523,899 from the sale.
    • CFO, Treasurer and EVP James D. Frias sold 9,000 shares for $53.14, generating $478,269 from the sale.

    You can view the list of recent insider transactions for Nucor Corporation here.

    P/E: 36.76 Forward P/E: 16.71 Industry P/E: 124.37
    P/S: 1.1 Price/Book: 2.27 EV/EBITDA: 9.71
    Market Cap: $17.05B Avg. Daily Volume: 2,859,920 52 Week Range: $33.9 – $57.08

    3. Tupperware Brands Corporation (TUP): $62.68

    Shares of this kitchen products company were sold by 3 insiders:

    • Chairman and CEO E. V. Goings sold 150,000 shares for $62.50, generating $9.37 million from the sale.
    • Director Angel R. Martinez sold 10,000 shares for $62.23, generating $622,272 from the sale.
    • Group President Asha Gupta sold 917 shares for $62.70, generating $57,496 from the sale.

    You can view the list of recent insider transactions for Tupperware Brands Corporation here.

    P/E: 16.67 Forward P/E: 13.45 Industry P/E: 23.17
    P/S: 1.43 Price/Book: 17.6 EV/EBITDA: 10.74
    Market Cap: $3.17B Avg. Daily Volume: 624,476 52 Week Range: $42.6 – $63.9

    4. PulteGroup, Inc. (PHM): $21.18

    Shares of this home builder were sold by 5 insiders:

    • Chief Executive Officer Richard J. Dugas sold 243,115 shares for $21.96, generating $5.34 million from the sale.
    • Exec. Vice President-HR James R. Ellinghausen sold 125,000 shares for $21.60, generating $2.7 million from the sale. These shares were sold as a result of exercising options immediately prior to the sale.
    • EVP & Chief Operating Officer Harmon D. Smith sold 53,582 shares for $22.05, generating $1.18 million from the sale.
    • EVP, Ch. Legal Ofcr, Corp Secy Steven M. Cook sold 20,000 shares for $22.06, generating $441,200 from the sale. These shares were sold as a result of exercising options immediately prior to the sale.
    • VP Finance & Controller James L. Ossowski sold 11,655 shares for $25.75, generating $300,085 from the sale. 10,000 of these shares were sold indirectly through a trust and 1,655 of these shares were sold indirectly through 401(k).

    You can view the list of recent insider transactions for PulteGroup, Inc. here.

    P/E: 13.94 Forward P/E: 9.9 Industry P/E: 15
    P/S: 1.1 Price/Book: 1.55 EV/EBITDA: 10.68
    Market Cap: $7.28B Avg. Daily Volume: 4,915,120 52 Week Range: $14.61 – $22.4

    5. JB Hunt Transport Services Inc. (JBHT): $83.13

    Shares of this trucking company were sold by 2 insiders:

    • Director Earl Wayne Garrison sold 50,000 shares for $84.04, generating $4.2 million from the sale.
    • EVP, President Intermodal Terrence D. Matthews sold 18,122 shares for $81.50, generating $1.48 million from the sale.

    You can view the list of recent insider transactions for JB Hunt Transport Services Inc. here.

    P/E: 21.85 Forward P/E: 18.94 Industry P/E: 19.55
    P/S: 1.48 Price/Book: 6.79 EV/EBITDA: 9.53
    Market Cap: $9.36B Avg. Daily Volume: 764,824 52 Week Range: $63.58 – $89.43

    You can view the full list of sales from this Insider Sales page.

    Disclaimer: I do not have any positions in any of the stocks mentioned in this article. Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.

    Connect with me on LinkedIn: http://www.linkedin.com/in/asifsuria or follow me on Twitter @asifsuria

    Insider Weekends – July 22, 2016

    Welcome to edition 318 of Insider Weekends. Insider buying increased last week with insiders buying $29.17 million of stock compared to $6.38 million in the week prior. Selling also increased with insiders selling $757.96 million of stock last week compared to $578.34 million in the week prior.

    Sell/Buy Ratio: The insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by total insider purchases that week. The adjusted ratio for last week decreased to 25.98. In other words, insiders sold  almost 26 times as much stock as they purchased. The Sell/Buy ratio this week compares favorably with the prior week, when the ratio stood at 90.65. We are calculating an adjusted ratio by removing transactions by funds and companies and trying as best as possible only to retain information about insiders and 10% owners who are not funds or companies.

    Insider Sell Buy Ratio July 22, 2016

    Insider Sell Buy Ratio July 22, 2016

    Note: As mentioned in the first post in this series, certain industries have their preferred metrics such as same store sales for retailers, funds from operations (FFO) for REITs and revenue per available room (RevPAR) for hotels that provide a better basis for comparison than simple valuation metrics. However metrics like Price/Earnings, Price/Sales and Enterprise Value/EBITDA included below should provide a good starting point for analyzing the majority of stocks.

    Notable Insider Buys:

    1. Cheniere Energy, Inc. (LNG): $41.08

    President and CEO Jack A. Fusco acquired 37,604 shares of this liquefied natural gas company, paying $39.89 per share for a total amount of $1.49 million. Mr. Fusco increased his stake by 14.00% to 306,180 shares with this purchase. 18,802 of these shares were purchased indirectly by Fusco Energy Investments, LLP.

    You can view the list of recent insider transactions for Cheniere Energy, Inc. here.

    P/E: -9.07 Forward P/E: 46.68 Industry P/E: 30.06
    P/S: 34.09 Price/Book: N/A EV/EBITDA: -102.34
    Market Cap: $9.68B Avg. Daily Volume: 2,512,630 52 Week Range: $22.8 – $71.11

    2. Akamai Technologies, Inc. (AKAM): $57.89

    Chief Executive Officer F Thomson Leighton acquired 17,456 shares of this content delivery and cloud infrastructure company, paying $57.28 per share for a total amount of $999,880. These shares were purchased indirectly through a trust.

    You can view the list of recent insider transactions for Akamai Technologies, Inc. here.

    P/E: 32.71 Forward P/E: 18.98 Industry P/E: 30.66
    P/S: 4.49 Price/Book: 3.23 EV/EBITDA: 14.25
    Market Cap: $10.17B Avg. Daily Volume: 1,669,580 52 Week Range: $39.43 – $76.98

    3. Restoration Hardware Holdings, Inc. (RH): $30.42

    Chairman & CEO Gary G. Friedman acquired 32,918 shares of this home furnishing company, paying $27.59 per share for a total amount of $908,208. Mr. Friedman increased his stake by 1.51% to 2,207,451 shares with this purchase.

    You can view the list of recent insider transactions for Restoration Hardware Holdings, Inc. here.

    P/E: 18.02 Forward P/E: N/A Industry P/E: 16.06
    P/S: 0.58 Price/Book: 1.41 EV/EBITDA: 6.89
    Market Cap: $1.24B Avg. Daily Volume: 2,942,020 52 Week Range: $24.75 – $106.49

    4. Signet Jewelers Limited (SIG): $89.53

    Shares of this specialty jewelry retailer (parent of Kay Jewelers, Jared The Galleria Of Jewelry, H.Samuel, and Ernest Jones) were acquired by 2 insiders:

    • Director Helen McCluskey acquired 1,005 shares, paying $89.91 per share for a total amount of $90,363. Mr. McCluskey increased his stake by 19.36% to 6,197 shares with this purchase.
    • Managing Director, UK Sebastian Hobbs acquired 500 shares, paying $91.72 per share for a total amount of $45,860. Mr. Hobbs increased his stake by 6.11% to 8,684 shares with this purchase.

    You can view the list of recent insider transactions for Signet Jewelers Limited here.

    P/E: 14.31 Forward P/E: 9.48 Industry P/E: 19.68
    P/S: 1 Price/Book: 2.21 EV/EBITDA: 8.57
    Market Cap: $6.98B Avg. Daily Volume: 2,030,340 52 Week Range: $77 – $152.27

    5. Kingsway Financial Services Inc. (KFS): $5.3

    Shares of this insurance company were acquired by 4 insiders:

    • Executive Vice President John Taylor Fitzgerald acquired 18,625 shares, paying $5.31 per share for a total amount of $98,884. Mr. Fitzgerald increased his stake by 6.00% to 328,800 shares with this purchase.
    • President and CEO Larry G. Swets acquired 390 shares, paying $5.35 per share for a total amount of $2,086. Mr. Swets increased his stake by 0.02% to 2,069,324 shares with this purchase.
    • COO, CFO, and EVP William August Hickey Jr. acquired 280 shares, paying $5.35 per share for a total amount of $1,498. Mr. Hickey increased his stake by 0.10% to 294,706 shares with this purchase.
    • Vice President Hassan Baqar acquired 132 shares, paying $5.35 per share for a total amount of $706. Mr. Baqar increased his stake by 0.09% to 148,208 shares with this purchase.

    You can view the list of recent insider transactions for Kingsway Financial Services Inc. here.

    P/E: -36.12 Forward P/E: N/A Industry P/E: N/A
    P/S: 0.68 Price/Book: 2.55 EV/EBITDA: -14
    Market Cap: $105.23M Avg. Daily Volume: 16,171 52 Week Range: $3.65 – $5.74

    You can view the full list of purchases from this Insider Buying page.

    Notable Insider Sales:

    1. ServiceNow, Inc. (NOW): $72.67

    Chief Product Officer Frederic B. Luddy sold 150,000 shares of this software-as-a-service provider for $71.20, generating $10.68 million from the sale. These shares were sold indirectly through a trust.

    You can view the list of recent insider transactions for ServiceNow, Inc. here.

    P/E: N/A Forward P/E: 71.25 Industry P/E: 23.06
    P/S: 10.52 Price/Book: 38.26 EV/EBITDA: -111.59
    Market Cap: $11.84B Avg. Daily Volume: 1,505,460 52 Week Range: $46 – $91.28

    2. Apple Inc. (AAPL): $98.66

    Senior Vice President Angela J. Ahrendts sold 35,797 shares of Apple for $100.00, generating $3.58 million from the sale.

    You can view the list of recent insider transactions for Apple Inc. here.

    P/E: 10.98 Forward P/E: 11.07 Industry P/E: 19.92
    P/S: 2.39 Price/Book: 4.18 EV/EBITDA: 7.19
    Market Cap: $540.40B Avg. Daily Volume: 39,026,400 52 Week Range: $89.47 – $123.91

    3. Kansas City Southern (KSU): $97.84

    Shares of this freight rail company were sold by 2 insiders:

    • Sr VP & Chief Legal Officer William J. Wochner sold 26,521 shares for $98.32, generating $2.61 million from the sale.
    • Senior Advisor to the CEO David L. Starling sold 5,100 shares for $98.88, generating $504,312 from the sale.

    You can view the list of recent insider transactions for Kansas City Southern here.

    P/E: 21.29 Forward P/E: 18.53 Industry P/E: 17.54
    P/S: 4.47 Price/Book: 2.63 EV/EBITDA: 11.3
    Market Cap: $10.57B Avg. Daily Volume: 1,365,220 52 Week Range: $62.2 – $101.24

    4. Workday, Inc. (WDAY): $79.97

    Shares of this application software company were sold by 7 insiders:

    • Chief Executive Officer Aneel Bhusri sold 10,353 shares for $79.06, generating $818,539 from the sale.
    • Vice Chairman Michael A. Stankey sold 8,781 shares for $79.06, generating $694,247 from the sale.
    • Co-President Mark S. Peek sold 6,904 shares for $79.05, generating $545,735 from the sale.
    • Senior Vice President James Bozzini sold 4,603 shares for $79.04, generating $363,821 from the sale.
    • Chairman David A. Duffield sold 3,699 shares for $79.07, generating $292,462 from the sale.
    • SVP, General Counsel & Secty James P. Shaughnessy sold 1,842 shares for $79.05, generating $145,608 from the sale.
    • Chief Financial Officer Robynne Sisco sold 897 shares for $79.01, generating $70,868 from the sale.

    You can view the list of recent insider transactions for Workday, Inc. here.

    P/E: N/A Forward P/E: 266.57 Industry P/E: 42.08
    P/S: 12.25 Price/Book: 13.65 EV/EBITDA: -72.98
    Market Cap: $15.75B Avg. Daily Volume: 1,618,890 52 Week Range: $47.32 – $85.67

    5. United Rentals, Inc. (URI): $78.22

    Shares of this equipment rental company were sold by 3 insiders:

    • President and CEO Michael Kneeland sold 20,000 shares for $76.35, generating $1.53 million from the sale.
    • Exec. VP & COO Matthew John Flannery sold 15,046 shares for $78.12, generating $1.18 million from the sale.
    • Vice President, Controller Jessica Graziano sold 877 shares for $76.34, generating $66,953 from the sale.

    You can view the list of recent insider transactions for United Rentals, Inc. here.

    P/E: 11.8 Forward P/E: 9.93 Industry P/E: 13.6
    P/S: 1.2 Price/Book: 4.54 EV/EBITDA: 8.37
    Market Cap: $6.92B Avg. Daily Volume: 1,949,630 52 Week Range: $41.9 – $80.68

    You can view the full list of sales from this Insider Sales page.

    Disclaimer Clients of Signal Partners, LLC  and I may have positions in any of these stocks at any time. Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.

    Connect with me on LinkedIn: http://www.linkedin.com/in/asifsuria or follow me on Twitter @asifsuria