The most significant insider buy on today’s list is a $913,648 purchase of Ibotta Inc $IBTA by D.E. Shaw & Company, a data-driven investment giant with $120.5 billion in assets under management.

Among its top holdings are market winners like Microsoft, Apple, and Nvidia.

The inclusion of Ibotta signals strong growth potential and suggests the company could be on the verge of something big.

Here’s The Hot Corner, with data from October 24, 2024:

Elsewhere, Deep Track Capital filed a 13D for Dynavax Technologies Corporation $DVAX revealing an increase in its ownership stake from 9.56% to 13.60%.

And, in another Form 4, the EVP and CFO of ManpowerGroup Inc $MAN bought $498,240 of MAN shares.

FB Financial Corporation $FBK is center stage today, as former director and top individual shareholder James Ayers doubled down on his commitment with a hefty $267,170 purchase, according to a new Form 4 filing.

This move brings Ayers' direct ownership to a whopping 10.9 million shares, or about 23% of outstanding shares, signaling his long-term belief in the company.

Here’s The Hot Corner, with data from October 22, 2024:

Ayers, who stepped down as executive chairman of the Nashville, Tennessee-based bank in December 2020, believes the stock price will rise.

And we agree with him at this point in time, as the FBK chart supports this view.

HMI Capital Management just made a bold move, raising its stake in nCino Inc $NCNO and making the Wilmington, North Carolina-based fintech outfit its No. 2 holding.

According to today’s 13D filing, the investment firm now holds 7,873,778 shares of NCNO, boosting its ownership from 6.40% to 6.80%.

HMI Capital primarily targets growth sectors like technology, focusing on companies with scalable, long-term growth potential.

Among its top holdings are Roblox $RBLX, Coupang $CPNG, GitLab $GTLB, and Toast $TOST.

With these disruptive players in its portfolio, HMI is betting big on innovation and staying at the forefront of the tech revolution.

Here’s The Hot Corner, with data from October 21, 2024:

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

Welcome to the Hot Corner Insider Weekly Report!

As you know, we spend a lot of time tracking insider activity to come up with this universe.

But that’s only half the battle!

Once we identify the names insiders are targeting, we overlay our expert technical analysis to see if the market agrees with their actions.

While we track some of the most powerful and well-informed market participants… we aren’t just going to follow them blindly into their trades.

We want to see that the insider activity is confirmed by the trend before we get involved. 

When we can check both boxes, we identify asymmetric risk/reward setups and then jump in and ride these trends higher alongside the smart money.

You can...

Warren Buffett’s Berkshire Hathaway just turned up the volume on its stake in Sirius XM Holdings $SIRI with the purchase of an additional 1,557,702 shares, valued at a cool $42 million.

This move nudges Berkshire’s ownership stake from 32% to 32.5%, reaffirming Buffett’s confidence in the satellite radio company.

Here’s The Hot Corner, with data from October 18, 2024:

The most significant insider activity today comes from Control Empresarial de Capitales S.A., the Mexican investment firm led by Carlos Slim.

According to a new Form 4 filing, the firm acquired 1,002,000 shares in PBF Energy $PBF, valued at $31.8 million.

This is Control Empresarial’s fourth major purchase in the last month, totaling nearly $55.9 million.

With these buys, Control Empresarial now owns around 20% of PBF and is the largest shareholder in the company, holding about as many shares as Blackrock and Vanguard combined.

Here’s The Hot Corner, with data from October 17, 2024:

Today’s biggest insider move comes straight from John Edward Adent, CEO of Neogen Corp $NEOG. 

According to a fresh Form 4 filing, Adent just scooped up 14,500 NEOG shares, throwing down $200,000 in the process.

No one understands Neogen better than its CEO. And this wasn’t a pre-scheduled transaction or an option exercise – this was an open-market purchase.

CEOs don’t just throw six figures into their own stock for fun. They do it when they see real value. Adent sees upside in NEOG, and he’s putting his own cash on the line to back it up.

However, that doesn’t necessarily mean it’s time for us to jump in. As technicians, we only want to follow this insider data when the trend confirms it 

That’s not the case with $NEOG right now, as the stock is still in a downtrend. We will add it to our watchlist and be ready when the setup improves.

Here’s The Hot Corner, with data from...

The most significant insider activity on today's list comes via a Form 4 filing by Liberty 77 Fund.

This time, the private equity fund reported an additional purchase of $5.4 million in Lions Gate Entertainment Corp $LGF.

Chairman and CEO Matt Murphy revealed the acquisition of 13,000 shares of Marvell Technology $MRVL.

While there can be many reasons for an insider to sell shares, there's typically only one reason they buy — they believe the stock is going up.

And if the CEO is buying now, at these levels, it signals strong conviction in the company’s prospects.

Here’s The Hot Corner, with data from October 15, 2024:

Boxer Capital LLC filed a 13D for Tyra Biosciences Inc $TYRA revealing an increase in ownership from 12.20% to 12.40%....

Due to Monday’s holiday there are no insider filings to report today. We’ll be back tomorrow with a look at that activity.

In the interim, Sea Ltd $SE has been on our radar ever since Rep. Kurt Schrader reported a position in a political filing back in 2022.

When the guys returned from Asia last year, we started stalking it even more closely. While it had an exciting growth story, more importantly, it had no evidence of a bottom. 

The stock was free-falling in a 90% drawdown back then.

So, we've been waiting patiently for a perfect pitch for some time now. 

We need to see clear signs of a trend reversal before we follow insiders into their trades. While our hot corner data is great, the chart always comes first.

And after several years, we finally think this chart is ready for us.

When we first traded it in March of this year, ...

Guess who’s back on today's list? None other than Uncle Warren himself!

Warren Buffett just dropped a significant $86.7 million on Sirius XM Holdings Inc $SIRI.

Buffett's Berkshire Hathaway has been a shareholder of SIRI since 2016.

The firm owns 108,719,088 shares, representing a 32% interest and market value of $2.8 billion.

SIRI is up over 3.50% pre-market on this news. We always watch Berkshire’s activity closely, as its filings tend to be market-moving events.

Here’s The Hot Corner, with data from October 11, 2024:

Today’s top insider transaction comes from a Form 4 filed by State Farm Mutual Automobile Insurance Company, one of the largest insurers in the U.S. 

State Farm made a bold move with a $1.2 million purchase in GATX Corporation $GATX—a key player in the Rental & Leasing Services industry.

Here’s The Hot Corner, with data from October 10, 2024: