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In Insider Trading, Freeport-McMoRan Leads Insider Purchases While Facebook Inc's CTO Sells Stock

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Plus, purchases at Nabors Industries and Odyssey Marine Exploration.

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Welcome to our daily roundup of top insider trades. Here's a look at the most significant inside sales and purchases filed with the SEC on Monday, July 29, 2013.

Notable Purchases:
  • James Flores, the Vice Chairman of international mining company Freeport-McMoRan Copper and Gold (NYSE:FCX), bought 517,350 shares of company stock for $14,821,062.
  • John Kotts, a Director of land drilling and well-servicing company Nabors Industries (NYSE:NBR), bought 120,000 shares of company stock for $1,794,350.
  • Mark Justh, a Director of the archeologically sensitive, deep-ocean exploration and recovery company Odyssey Marine Exploration (NASDAQ:OMEX), bought 75,000 shares of company stock for $249,750.
Notable Sales:
  • Michael Schroepfer, the CTO of Facebook (NASDAQ:FB), sold 270,000 shares of the social network's stock for $9,155,088.
For more insider trades, see the charts below.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
VCB,DIR
B
$14,821,062
2
DIR
B
$1,794,350
3
CB,CEO,DIR
B
$986,776
4
BO
B
$440,875
5
DIR
B
$249,750
6
DIR
B
$242,000
7
CB,CEO,BO
B
$137,100
8
BO
JB*
$117,755
9
DIR
B
$103,474
10
DIR
B
$75,385

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
CB,DIR
AS
$78,369,013
2
CTO
AS
$9,155,088
3
PR,DIR
AS
$5,094,020
4
BO
S
$3,824,763
5
DIR
AS
$3,754,682
6
VCB
S
$2,648,800
7
CEO,DIR,BO
AS
$1,924,140
8
BO
S
$1,702,392
9
VCB,DIR
S
$1,650,000
10
CB,DIR,BO
S
$1,633,680

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes

An important note from Jonathan Moreland, founder of Insider Insights:

In a victory for common sense, it has been proven profitable -- by both academic studies and (more importantly) the experience of your fellow professional investors -- to monitor the trading behavior of company executives, directors, and large shareholders in the stocks of firms of which they're registered as "insiders."

Please note, however, that the lists above are strictly factual; they are not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.

At InsiderInsights.com, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

Jonathan Moreland is also the author of "Profit From Legal Insider Trading."
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No positions in stocks mentioned.
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