We read 147 filings today. Here are the ones worth your time.
114 Form 433 8-K1 Buys24 Sells
Westinghouse Air Brake's CEO just sold $16.4 million worth of stock. All discretionary, not pre-planned.
Horizon Kinetics dropped serious money into Texas Pacific Land, while Palo Alto Networks filed an 8-K on a material agreement that changed how they're accounting for revenue. The week's scorecard: 147 filings, 1 buy, 24 sells.
Wabtec's CEO sold $16.4M on Thursday. Discretionary. He cut 32.1% of his position while the stock sat three dollars off its 52-week high. WAB reports earnings in six days. The last time Santana sold this size, back in September, the stock dropped 4.1% the following week.
His timing has a pattern. This week, he chose Thursday. The earnings call is Tuesday. The stock has run 56% in twelve months while trading at 29 times earnings. He saw the chart and made a choice.
Horizon Kinetics bought $419 worth of TPL at $417 per share. Discretionary, not pre-planned. The firm has made 26 consecutive buys over two years without a single sale, and this microscopic addition continues that pattern as the stock sits 24% below its 52-week high.
TPL $417.30 . 52w: $269-$547 . +0% YTD
THE TAPE
HSY
Hershey Trust CO Trustee IN Trust For Milton Hershey School sells $5.9M of HSY
AMZN
CEO Douglas Herrington sells $5.0M of AMZN
BKNG
CEO Glenn Fogel sells $3.1M of BKNG
FDX
Tracy Brightman exercises options in $3.0M of FDX
FDX
Chairman R Martin exercises options in $2.8M of FDX
Palo Alto Networks just entered a material agreement that created new debt obligations, though the 8-K doesn't specify the amount or terms. The filing comes while PANW trades near the bottom of its 52-week range at $164, down from its $224 peak earlier this year. The company likely tapped credit markets to fund M&A or operations as cybersecurity consolidation accelerates.