Stock of the Week
William Angrick (Chairman, CEO, Co-founder) purchased 94,567 shares on October 5th at $7.67, under a 10b5-1 plan initiated on September 11th. This is Angrick’s 22nd purchase in 2020 and over those purchases he has increased his holdings from 5.3m shares to 7 million shares (20% of the company). Angrick had previously been a seller of the stock from 2006-2016, at higher prices. We have had this stock with a positive rank since April 21st based on purchases from Angrick and Jaime Mateus-Tique (Co-founder, Director, former COO) around $4.10 per share. It is interesting to see Angrick continue to aggressively purchase shares after it has almost doubled. We are renewing our +1 rank.
Tamara Gustavson (Non-Executive since 2008) purchased $8.1 million of stock on the 10th of September at $217.65. The trade is unusual as it is only her second purchase since 2006 and she had been a regular, material seller between 2006-15. Her only recent previous purchase was for $15 million at $215 in 2016. Ronald Havner (Chair since 2018, previously CEO since 2002) purchased $408,000 of stock on the 8th September. This is his first purchase since 2009, he sold significant stock between 2010-18. Whilst these trades are relatively small for both directors compared to historic sales, both directors are very rare traders which is encouraging. We are ranking the stock +1