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Urban Outfitters CEO Sells Company Shares While Insiders Buy Stock at AGCO and SafeStitch

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Plus, a purchase at Support.com.

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Welcome to our daily round-up of top insider trades. Here's a look at the most significant inside sales and purchases filed with the SEC on Tuesday, March 26, 2013.

Purchases: Mallika Srinivasan, a Director of agricultural equipment company AGCO Corporation (NYSE:AGCO), bought 276,638 shares of company stock, worth $13,570,545. Mrs. Srinivasan also filed a purchase on Monday worth $8,799,708. Over two contiguous trading days, she purchased $22.5 million worth of company stock. From September 2012 to December 2012, Mrs. Srinivasan bought over 2,970,000 shares for $132,722,227. She is the CEO of Indian tractor and farm equipment company TAFE Tractors.

At development stage medical device company SafeStitch Medical, Inc. (OTC:SFES), Chairman Jane Hsiao bought 4 million shares of company stock, worth $1 million while Beneficiary Owner Phillip Frost bought 2 million shares, worth $500,000. Phillip Frost is the CEO and Chairman of diagnostics and pharmaceutical company Opko Health (NYSE:OPK), of which Hsiao is CTO and Vice Chairman of the Board. SafeStitch produces medical devices that, through endoscopic and minimally invasive surgery, manipulate human tissue for the treatment of obesity, gastroesophageal reflux disease, esophageal obstructions, hernia formation, and other intraperitoneal abnormalities.

The asset management firm RGM Capital bought 129,600 shares of cloud-based services and software solutions company Support.com, Inc. (NASDAQ:SPRT), worth $531,294. The company's stock is up 72.9% since June 2012, from $2.36 on June 1 to $4.08 today. The company gets key business from Office Depot (NYSE:ODP) and OfficeMax (NYSE:OMX) and it is likely that the merger of the companies will not end Support.com's relationship with the companies. The major competitor of those two companies, Staples (NASDAQ:SPLS), is also a client of Support.com.

Sales: Richard Hayne, the CEO of specialty retail company Urban Outfitters (NASDAQ:URBN), sold 1,283,793 shares of company stock for $50,020,612. The New York Times reported yesterday that Sophia Amoruso, the CEO of online clothing store Nasty Gal, had commented that her company was in talks with Urban Outfitters about a potential acquisition deal. Nasty Gal had $100 million in sales last year and was profitable, while Urban Outfitters is expected to take in revenue of $3.2 billion for the current fiscal year.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
DIR
AB
$13,570,545
2
BO
JB*
$4,140,000
3
CEO,DIR,BO
JB*
$2,500,000
4
CB,DIR,BO
JB*
$1,000,000
5
BO
B
$531,294
6
BO
JB*
$500,000
7
DIR
B
$303,853
8
DIR
JB*
$281,465
9
DIR
JB*
$250,008
10
CEO,CB,BO
B
$238,424

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

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value
1
CB,DIR
AS
$149,284,203
2
BO
JS*
$73,443,752
3
CEO,DIR,BO
S
$50,020,612
4
DIR
JS*
$8,500,000
5
DIR
JS*
$6,055,000
6
BO
S
$4,888,120
7
CB,DIR
S
$4,231,329
8
DIR
JS*
$3,027,515
9
BO
AS
$2,410,923
10
DIR
AS
$2,074,002

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."

Follow me on Twitter: @JoshWolonick and @Minyanville
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No positions in stocks mentioned.
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