By Davit Kirakosyan
Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed this week: news out of Elliott and NRG Energy, and a top brass buys at Asana, Innoviva, Pebblebrook Hotel Trust, and Kura Oncology.
InvestingPro subscribers got this news in rapid fire. Never be left in the dust again.
Elliott Investment Management, an activist investment firm, is ratcheting up pressure on NRG Energy (NYSE:NRG) to replace CEO Mauricio Gutierrez and other top executives, according to a Wall Street Journal report. The Journal cited sources familiar with the matter.
In a statement to Reuters, an NRG spokesperson said the power company's board continues to fully back Gutierrez and his management team.
This development follows Elliott's call for a boardroom overhaul and strategic review of NRG's home services in a letter to the board last month. Elliott, having disclosed over 13% economic interest in NRG valued roughly at $1 billion in May, did not specify how much, if any, of that interest was in NRG stock.
Asana (NYSE:ASAN) CEO Dustin Moskovitz disclosed several purchases this week, as reported in real time on InvestingPro. Moskovitz bought 80,000 common shares at $24.37-$26.10 and 240,000 shares at $24.09-$24.97, worth a total of nearly $8.5 million.
Moskovitz owns 39,592,803 shares directly and 4,147,046 indirectly, following the latest purchases.
Moskovitz, who purchased 19M shares of Asana stock in September 2022, announced an additional 30M share trading agreement in March, which research firm JMP said demonstrates his faith in the company and "removing any doubt surrounding Asana's liquidity."
Innoviva (NASDAQ:INVA) 10% owner, Alexander Denner, bought 62,000 shares, or worth more than $800,000, at $13.1322.
Pebblebrook Hotel Trust (NYSE:PEB) Chairman and CEO, Jon Bortz, purchased 39,368 common shares, or worth over $500,000 at $12.59-$12.839.
Kura Oncology (NASDAQ:KURA) Director, Thomas Malley, purchased 50,000 common shares, or worth $575,000, at $11.50 per share.
Get ready to supercharge your investment strategy with our exclusive discounts.
Don't miss out on this limited-time opportunity to access cutting-edge tools, real-time market analysis, and expert insights. Join InvestingPro today and unlock your investing potential. Hurry, the Summer Sale won't last forever!
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.