Elon Musk Leads Insider Buying Wave
The highlight of recent insider buying is an enormous purchase of Tesla shares by CEO Elon Musk. But it wasn't the only notable buy in the past week or so.
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Not surprisingly, the recent insider buying spotlight is on Elon Musk’s billion-dollar purchase. But he wasn’t the only insider to boost a stake in the past week or so. A renowned precious metals investor made a sizable purchase as well, and the biopharmaceutical industry was well represented among recent buys.
Let’s take a quick look at these notable transactions in the past couple of weeks.
Is Insider Buying Important?
A well-known adage reminds us that corporate insiders and 10% owners really only buy shares of a company because they believe the stock price will rise and they want to profit from it. Thus, insider buying can be an encouraging signal for potential investors. This is all the more so during times of uncertainty in the markets, and even when markets are near all-time highs.
With the second-quarter earnings-reporting season over, insiders are largely free to buy or sell shares until the next season begins. Below are some of the most notable insider purchases that were reported recently, starting with the largest and most prominent.
Tesla
- Buyer(s): CEO Elon Musk
- Total shares: more than 2.5 million
- Price per share: $371.38 to $396.54
- Total cost: about $1.0 billion
This was Musk’s first major open-market buy in recent years, and it is being widely interpreted as a strong vote of confidence in Tesla Inc. (NASDAQ: TSLA). Also garnering a great deal of attention is a proposed new pay package for Musk that is potentially worth up to $1 trillion.
The stock is up 25.6% in the past month and is trading near an all-time high of $488.54. The share price is 81.8% higher than a year ago, far outperforming the S&P 500. The stock has well outrun the analysts’ $320.71 consensus price target. And fewer than half of the 45 analysts who cover the shares recommend buying them.
Note that the EV maker’s CFO and another executive sold some shares recently.
CG Oncology
- Buyer(s): a director
- Total shares: more than 1.5 million
- Price per share: $33.00
- Total cost: about $50.0 million
CG Oncology Inc. (NASDAQ: CGON) is a California-based biotech focused on treatment of bladder cancer. Last month, it reported positive clinical data and quarterly results. The share price is 40.3% higher than a month ago but up just 3.8% year over year. Shares were last seen about $3 higher than the buyer’s price. Analysts see plenty of room for the stock to run, given their $59.73 consensus price target. All 12 analysts who cover the stock recommend buying shares.
Here too, a few other insiders have been selling shares lately.
Hycroft Mining
- Buyer(s): 10% owner Eric Sprott
- Total shares: over 9.3 million
- Price per share: $4.28
- Total cost: nearly $40.0 million
This transaction was a private placement and lifts Sprott’s Hycroft Mining Holding Corp. (NASDAQ: HYMC) stake to more than 17.5 million shares, or approximately 33% of the stock. He also made a sizable purchase back in June, when the chief executive and other officers were selling shares.
The stock is up 180.5% since the beginning of the year, including an 8.4% pop in the past week to well above the purchase price above. Only one analyst covers the stock and has a Hold rating with no target price.
And Other Insider Buying
These were not the only notable insider purchases of the past week or so. Here’s a quick look at some others.
| Stock | Buyer | Shares | Price | Cost |
| Resideo Technologies Inc. (NYSE: REZI | REZI Price Prediction) | a 10% owner and a director | over 438,000 | $33.10 to $33.92 | over $14.7 M |
| Ryan Specialty Holdings Inc. (NYSE: RYAN) | executive chair | over 276,600 | $51.39 to $52.12 | over $14.3 M |
| Celcuity Inc. (NASDAQ: CELC) | a 10% owner | 170,100 | $56.21 to $58.14 | almost $9.6 M |
| Summit Therapeutics Inc. (NASDAQ: SMMT) | co-CEOs | almost 738,400 | $17.49 to $18.07 | almost $6.0 M |
| DiaMedica Therapeutics Inc. (NASDAQ: DMAC) | a 10% owner | 1.0 M | $5.85 to $6.00 | over $5.9 M |
| Shattuck Labs Inc. (NASDAQ: STTK) | a director | over 6.3 M | $0.87 | almost $5.5 M |
Recently, some smaller insider buying was reported at Black Stone Minerals, Broadcom, Coty, Dollar Tree, Freshpet, Keurig Dr Pepper, Lyft, Matador Resources, Opendoor Technologies, Perrigo, Salesforce, Scotts Miracle-Gro, and Wayfair as well.
Tesla Stock Price Prediction and Forecast 2025–2030
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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, moderating workshop sessions at regional conventions.
