Stock of the Week
Smartsheet Inc – (SMAR, +1, Jan 12th)
James White (Director since 2014) purchased 150,000 shares on January 7th at $63.07, spending $9.5 million. Despite being on the board for seven years this is his first purchase. The purchase is indirect for a Ltd. Partnership for which White is a trustee. White was a Managing Director at Sutter Hill Ventures until he retired in 2020 and prior to that held senior positions at Macromedia, Silicon Graphics and HP. We ranked this stock +N on December 15th based on a $1.1 million purchase from Matthew Mcilwain (Director since 2007) at $70.88.
After Smartsheet insider trading, we are upgrading the stock further, from +N to +1.
Bridgebio Pharma Inc – (BBIO, +N, Jan 4th) – Six Non-Executives bought a total of $2.8 million of stock across a series of
purchases on the 29th and 30th December at approx $14. In each case, this is their first purchase in the stock having joined the
board in 2020 or 2021 (James Momtazee is the exception, he joined in 2016). The shares have been extremely weak since
disappointing clinical trial results in December 2021. Whilst this is likely a coordinated set of purchases and we would like to see
executives join the buying, this is still a meaningful cluster of purchases.