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Shuda Xia
Shuda Xia
Articles (367) 

Top Insider Buys Highlight for the Week of Feb. 14

Insiders load up on Salesforce.com, Ford, Catalent and PPD

February 16, 2020 | About:

The largest insider buys this week were for Salesforce.com Inc. (NYSE:CRM), Ford Motor Co. (NYSE:F), Catalent Inc. (NYSE:CTLT) and PPD Inc. (NASDAQ:PPD).

Salesforce director bought 1,100 shares

Director Susan Wojcicki bought 1,100 shares on Feb. 12 for an average price of $189.36. The stock has gained 0.31% since then.

Salesforce is an American cloud computing company. Although most of its revenue comes from a customer relationship management product, the company also capitalizes on commercial applications of social networking through acquisition. The company has a market capitalization of $168.49 billion; as of Feb. 14, it traded at $189.95.

On Dec. 12, Salesforce announced that President and Chief Product Officer Bret Taylor has been appointed president and chief operating officer. Taylor is the co-founder and former CEO of Quip, which was acquired by Salesforce in 2016. Before Quip, Taylor also served as the chief technology officer of Facebook. In his new position, Taylor will continue to report to Chairman and Co-CEO Marc Benioff.

Ford director bought 10,000 shares

Director John C. Lechleiter bought 10,000 shares on Feb. 12 for an average price of $8.14. The share price has declined 0.49% since then.

Ford is an American automaker that sells automobiles and commercial vehicles under the Ford brand and most luxury models under the Lincoln brand. The company also owns Brazilian SUV manufacturer Troller and Australian performance car manufacturer FPV. The company has multiple joint ventures in China, Taiwan, Thailand, Turkey and Russia. The company has a market capitalization of $32.12 billion; as of Feb. 14, it traded at $8.10.

On Feb. 12, Ford Motor announced a safety recall for select 2013 to 2018 Ford Flex, Ford Taurus Police Interceptor Sedan, Ford Taurus SH, and Lincoln MKT vehicles. The affected vehicles that are exposed to frequent full rear-suspension articulation may experience a fractured rear suspension toe link, which may increase the risk of a crash while driving. The recall affects 211,207 vehicles in the U.S., 15,281 vehicles in Canada and 1,396 vehicles in Mexico.

Catalent director bought 2,000 shares

Director Gregory T. Lucier bought 2,000 shares on Feb. 13 for an average price of $59.71. The stock has gained 1.24% since then.

Catalent is a pharmaceutical company that focuses on developing and providing advanced delivery technologies, drug manufacturing, gene therapy and consumer health products. The company was formed in April of 2007 when affiliates of the Blackstone Group L.P. acquired the core of the pharmaceutical technologies and services segment of Cardinal Health Inc. The company has a market capitalization of $9.44 billion; as of Feb. 14, it traded at $60.45.

On Feb. 10, Catalent announced that it has completed its acquisition of MaSTherCell Global Inc. The acquisition provides Catalent with MaSTherCell’s 25,000 square-foot clinical services facility in Gosselies, Belgium, and its 32,000 square-foot facility in Houston. The facility in Houston focuses on development scale projects and is scheduled to open later this quarter.

PPD chief operating officer bought 30,000 shares

COO William J. Sharbaugh bought 30,000 shares on Feb. 10 for an average price of $27. The stock has climbed 16.85% since then.

PPD is an international contract research organization that focuses on providing integrated drug development and laboratory management services. The company provides contract clinical research for pharmaceutical, biotechnology, academic and government organizations. The company has a market capitalization of $10.99 billion; as of Feb. 14, it traded at $31.55.

On Feb. 5, PPD announced the pricing of its initial public offering of 60 million shares of its common stock at $27 per share. The offering closed on Feb. 10. The company intends to use the net proceeds from the offering to redeem in full its 7.625%, 8.375% Senior PIK Toggle Notes due 2022 and 7.75%, 8.50% Senior PIK Toggle Notes due 2022.

For the complete list of stocks that were bought by their company executives, go to insider trades.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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