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Insiders Sell Shares of Netflix, Inc. and Pacira Pharmaceuticals

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Plus, purchases at Chesapeake Energy, Horsehead Holding, and Synta Pharmaceuticals.

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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 Tuesday, June 25, 2013.

Notable Purchases:
  • Frederic Poses, a Director of natural gas and oil exploration and production company Chesapeake Energy Corporation (NYSE:CHK), bought 152,632 shares of company stock for $3,032,798.
  • The investment adviser firm Dalal Street LLC bought 173,092 shares of zinc and nickel producer Horsehead Holding Corp. (NASDAQ:ZINC) for $2,088,165.
  • Bruce Kovner, a Director of the cancer and inflammatory diseases focused biopharmaceutical company Synta Pharmaceuticals Corp. (NASDAQ:SNTA), bought 250,000 shares of company stock for $1,097,440.
Notable Sales:
  • Reed Hastings, the CEO of Netflix, Inc. (NASDAQ:NFLX), sold 15,238 shares of company stock for $3,245,694.
  • Fred Middleton, a Director of Pacira Pharmaceuticals Inc (NASDAQ:PCRX), sold 75,900 shares of company stock for $2,211,044.
Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR,BO
JB*
$97,985,720
2
DIR
JB*
$4,999,995
3
DIR
B
$3,032,798
4
BO
B
$2,088,165
5
DIR
B
$1,375,000
6
DIR,BO
B
$1,097,440
7
BO
B
$662,506
8
BO
B
$508,232
9
DIR
B
$421,541
10
CEO,DIR
B
$405,000

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
PR,COO,DIR
AS
$4,932,789
2
CB,CEO,DIR
AS
$3,710,213
3
CEO,DIR
AS
$3,245,694
4
VP
S
$2,894,893
5
DIR
AS
$2,211,044
6
CEO,PR,DIR
S
$2,210,000
7
PR
S
$1,365,901
8
VP
S
$1,269,829
9
VP,COO
S
$990,000
10
PR
AS
$737,211

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."
No positions in stocks mentioned.
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