Rocket Companies Inc – (RKT, +N, July 21th)
Jay Farner (CEO and Vice Chairman, since 2020) has purchased $14.7 million of stock since April 2022 at an average price of $8.55, doubling his holdings to 3.5 million shares. These purchases have been under a 10b5-1 plan, established on Feb. 28, 2022, with his first purchase on March 30th. He did purchase $3.7 million of stock at the company’s IPO at $18.00 in August 2020 which was poorly timed but these are materially larger purchases.
Matthew Rizik (Non-Executive since 2020) bought $600,000 of stock at $7.85 across trades in June and July, in his first purchases in the stock. These purchases are also under a 10b5-1 plan, which he set up on May 11th. Whilst the company has performed poorly since listing, these are material purchases.
We are ranking the stock +N.
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