5 hot insider trades & hedge fund hits: Buffett picks up more Occidental shares

Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed last week: News out of Occidental Petroleum and Warren Buffett's Berkshire Hathaway; AlloVir and Gilead Sciences; and top brass buys at Asana, ONEOK, and MiMedx.

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Occidental Petroleum gains on more Buffett buys

Occidental Petroleum (NYSE:OXY) shares bumped higher on news that Warren Buffett's Berkshire Hathaway (NYSE:BRKa) (NYSE:BRKb) is once again increasing its position in the company, as reported in real-time on InvestingPro.

According to SEC filings from late last week, Berkshire purchased over 2.1 million shares from June 26 to June 28, with an approximate value of $122 million.

With these purchases, Berkshire's holdings in Occidental have reached a total of 224,129,192 common shares and 91,964 series A preferred shares. It also holds warrants for an additional 83,858,848.81 shares.

Occidental shares climbed 4.8% for the week.

Gilead adds a stake in AlloVir

Gilead Sciences (NASDAQ:GILD) said it bought another 2,930,870 common shares of AlloVir (NASDAQ:ALVR) in the recent public offering at $3.75 per share. The total value of the purchase was nearly $11M.

With this transaction, Gilead now holds a total of 16,635,286 common shares, representing an ownership stake of approximately 15%.

On June 21, AlloVir announced the pricing of an underwritten public offering of 20,000,000 shares of its common stock, with each share priced at $3.75.

Asana CEO Moskovitz buys another $3.6M worth of stock

Asana (NYSE:ASAN) CEO Dustin Moskovitz acquired an additional 160,000 common shares, worth approximately $3.6M, at prices ranging from $22.49 to $22.56.

Following the latest transaction, Moskovitz now owns 39,752,803 common shares in Asana directly and 4,147,046 common shares indirectly.

Moskovitz has been actively buying Asana stock over the past year. Last week, he bought an additional $6.5M worth of shares. These repeated investments reflect Moskovitz's ongoing commitment to Asana and belief in its long-term success.

2 more insider buys

ONEOK (NYSE:OKE) CEO Pierce Norton acquired 24,607 common shares, or worth around $1.5M, at a price of $60.959 per share.

MiMedx (NASDAQ:MDXG) CEO Joseph Capper purchased 100,000 common shares, or worth over $640,000, at prices ranging from $6.3321 to $6.504.

This purchase represents Capper's entire stake in MiMedx, highlighting his commitment since joining in January 2023.

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