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- Huge Insider Buys on TMCI | $100 million Buy on Salesforce
Huge Insider Buys on TMCI | $100 million Buy on Salesforce
We opened our first long position!
Omar Aslai
June 06, 2024 • Estimated Reading Time: 5 minutes
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Good morning folks, Here’s what we got for you on this fine Thursday:
Boring Data opens its first position in $TMCI
$100 million buy order on SalesForce
But first a quick word from one of our favorite newsletters.
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Unusual Accumulation by Insiders at TMCI
“Treace Medical Concepts, Inc. is a medical technology company. The Company is focused on advancing the standard of care for the surgical management of bunion and related midfoot deformities.”
Earlier this week we reported that there was aggressive buying on TMCI
CEO John Treece purchased $3 million worth of shares
Chairman of the board James Treece purchased $2 million in shares
Other notable insiders.
Richard Mott: +135,000 shares
John Blackwell = +130,000 shares
Jain Deepti = +25,000 shares
Jane Kiernan = +19,356 shares
This was all in a few weeks, and every trade is up 20-30%!
TMCI is sitting at 52 week lows, with earnings coming up on August 6
Quick accumulation of shares by many insiders tells me two things:
A signal of confidence in the company’s future performance
Fast accumulation precedes corporate events like mergers, acquisitions, or other significant business activities that could positively impact the stock price.
I opened my long position this morning with an average cost of $6.02, will accumulate more in the ranges of $5.75 and $5.50.
Again this is not financial advice, I just happen to like the stock.
Someone just bought $100 million of Salesforce stock
Mason G Morfit is CEO of ValueAct Capital, a San Francisco-based investment firm. ValueAct is a very active investor that identifies companies that appear to be out of favor or may be undergoing a significant transition.
They makes a significant investment into the company and then works with the company to make changes with the goal of increasing long-term stock value and thus creating a profit for ValueAct.
Mason G. Morfit has a multi-billion dollar stake, as well as a seat on the board of directors of Salesforce.
Breakdown:
428,000 Shares
Average Share Price: 233.17
Total Cost: $99,796,760
CRM is historically the most disrespected stock, over the last 12 months there has not been one single insider purchase. Only Sell, and to really illustrate the point here, take a look at this.
ALL SELLS
This quarter was Salesforce's $CRM first revenue miss in 73 quarters going back to February 2006!
— Bespoke (@bespokeinvest)
1:27 PM • May 30, 2024
Thank you for reading, and remember just because I like to set my money on fire doesn’t mean you have to as well. Trade cautiously, my friends.
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