Insider trades this week: Canoo stock surges on big CEO share purchase

Sizable insider moves can serve as useful bellwethers for investors. Here are some of the biggest such moves from the past week, as first reported on InvestingPro+.

Rackspace Technology Inc (NASDAQ:RXT) Director, Shashank Samant, bought 100,000 shares on 11/29/22 at $4.5462. The value of the purchases was $454,620. Shares gained 3.9% for the week to $4.85.

Canoo Inc (NASDAQ:GOEV) rose sharply after CEO, Tony Aquilla, bought over 9 million additional shares. Filings with the SEC showed that on November 9, 2022, Canoo entered into the Subscription Agreement providing for the purchase of an aggregate of 9,009,009 shares of Common Stock at a price of $1.11 per share for an aggregate purchase price of $10.0 million. Aquilla and related entities now own 62,479,217 shares of Canoo, or 19.2% of the shares outstanding. Shares of the EV maker gained 22% for the week to $1.44.

Vapotherm (NYSE:VAPO) CEO, Joseph Army, bought around 902,000 shares on 11/28/22: 750,000 at $0.76 and another 152,000 at prices from $0.755-$0.7948. The combined value of the purchases was some $690,000. CFO John Landry also reported purchase of 135,000 shares on 11/28/22, at prices from $0.76 to $0.7899, for a total purchase price of around $105,000. Shares gained 97.6% for the week to $1.62.

Rocket Companies Inc (NYSE:RKT) CEO, Jay Farner, 77,400 shares from 11/28/22-11/30/22 at prices from $7.56-$7.89, bringing his stake to 5,651,907 shares direct and 204,000 indirect. The value of the purchase was around $600,000. Shares gained 9.8% to $8.41 for the week.