Insider Buys Of The Week: Conagra, Salesforce, Thor

 

  • Insider buying can be an encouraging signal for potential investors.
  • Trading plans and public offerings prompted some insider buying last week.
  • A director at an RV maker also stepped up to the buy window as well.

Conventional wisdom says insiders and 10 percent owners really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly with markets at all-time highs.

Here's a look at a few notable insider purchases reported in the past week.

Salesforce

While the board chair and other Salesforce.com, inc. CRM executives have been selling throughout October, one director stepped up to the buy window this past week. That director picked up 6,000 shares at between $146.36 and $147.33 apiece. That totaled more than $880,000 and was pursuant to a 10b5-1 trading plan.

The company's collaboration with eMoney was on display at the eMoney Summit 2018 in Orlando. The stock ended Friday at $146.74, down more than 4 percent for the week, and above the director's purchase price range. The S&P 500 was less than 4 percent lower in that time. The consensus price target for Salesforce is $171.72 a share.

Conagra Brands

Conagra Brands Inc CAG saw its chief executive, chief financial officer and a director purchase altogether more than 24,000 shares of this packaged foods company late last week. At $35.35 a share, the transactions totaled nearly $850,000, and they were part of a recently announced public offering of common stock.

Conagra was a recent Jim Cramer pick, and at least one analyst says to buy the dip. The shares ended the past week trading at $35.35 apiece, after rising more than 3 percent. They have traded as low as $32.82 and as high as $39.43 in the past 52 weeks. The consensus price target was last seen at $42.00.

See also: Adidas CEO Talks Tariffs, Yeezy Release And The Rise Of 3D-Printed Shoes

Thor Industries

Thor Industries, Inc. THO also had a director make a purchase last week. The 5,000 shares of this Indiana-based recreational vehicle maker acquired, at per-share prices of $81.65 to $81.74, totaled more than $408,000. That lifted the director's stake to 14,000 shares.

Thor saw a price target change and a new board member appointed last week. Its shares ended the past week with a fractional retreat, despite being down about 4 percent at one point. They were last seen trading at $80.43 apiece, so no quick pop for this director. The analysts' mean price target is way up at $130.88, but shares have traded as high as $161.48 in the past year.

Posted In: NewsInsider TradesConAgraConagra BrandsSalesforceSalesforce.comThor Industries
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