AP Moller Reveals a $13.2 Million NE Purchase

The most significant insider buy on today's list comes via a Form 4 filing by AP Moller Holdings.

The Danish investment company reported the acquisition of 300,000 shares of Noble Corporation $NE, equivalent to $13.2 million.

Durable Capital Partners LP filed a 13G for Doximity Inc $DOCS revealing an initial stake of 5.10%.

Here’s The Hot Corner, with data through July 5, 2024:

The CFO of Dave & Buster's Entertainment Inc $PLAY bought 13,578 shares of the restaurant stock.

NE is consolidating in a well-defined range within the context of an underlying uptrend.

However, the stock has done nothing for over a year now, still trading around the same level it was in early 2023.

The 200-day moving average has been flat for the past year, confirming the absence of any real trend.

With momentum (as measured by the 14-period RSI) never hitting oversold conditions during this consolidation, odds favor this one resolving higher and continuing its ascent.

How long it takes is the only question.

Stay tuned. We'll be back on Tuesday with more insider activity.

And please reach out with any questions. We love hearing from you!