Director Johnson Buys Another 200,000 BEN Shares

By Steve Strazza

June 25, 2024
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From the Desk of Steve Strazza and Alfonso Depablos

The most significant insider buy on today's list comes via a Form 4 filing by Charles Bartlett Johnson, former CEO of Franklin Resources Inc $BEN.

Johnson bought 200,000 additional BEN shares, equivalent to $4.5 million.

Point72 Asset Management filed a 13G for UroGen Pharma Ltd $URGN revealing an initial stake of 6.20%.

Here’s The Hot Corner, with data through June 24, 2024:

240625_hot_corner_table

In another Form 4, director Joseph D. Samberg reported a purchase of NextNav Inc $NN shares with a total value of $2.3 million.

And director Oscar Munoz reported the acquisition of 2,051 shares of Salesforce Inc $CRM for a total value of $499,806.

CRM found support near the AVWAP from the 2022 lows after a big selloff following earnings last month.

240625_hot_corner_crm

The bias is sideways for longer if the price remains stuck in this range.

However, we’re looking for a gap-fill rally if we’re above 241.

Stay tuned. We'll be back on Wednesday with more insider activity.

And please reach out with any questions. We love hearing from you!

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Steve Strazza

Chief Market Strategist, All Star Charts

Steve Strazza brings a unique perspective to the world of Technical Analysis due to his diverse background. Steve found an affinity for financial markets during his first job out of college as a big-4 CPA auditing some of Wall Street’s largest broker-dealers, such as Interactive Brokers and Morgan Stanley. Steve then worked in the Asset Management industry in a variety of roles including Controller for a private equity start-up, Fund Accountant at two large hedge funds, and most notably as a personal Accountant for Steve Cohen at SAC Capital and Point72.

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