CEO Bets Big, Andreessen Cashes Out

The biggest US insider story this week: SMMT CEO Robert Duggan filed on June 12 that he bought $50 million worth of Summit Therapeutics shares at $13.12. That is a massive bet from a chairman-CEO on his own company.

Ribbit Capital filed three separate purchases in HOOD totalling over $55 million. The board-level VC firm bought Robinhood shares repeatedly between late May and early June, signalling strong conviction at the $80 level.

On the sell side, tech investor Marc Andreessen filed sales of IOT Samsara shares worth over $51 million across four trades this week. He is a director at the company. The sales ran from June 8 through June 11 at prices around $33–$34.

Silver Lake Group also filed a cluster of DELL Dell Technologies sales totalling roughly $46 million, all at prices above $414. The private equity firm holds a board seat.

NCLH Norwegian Cruise Line director Steve Pagliuca filed purchases of $25 million across two days. He bought 1.38 million shares at around $18.

NSP Insperity CEO Paul Sarvadi filed a $7.9 million personal purchase on June 4. The CEO buying that much of his own stock is a strong signal worth watching.