Under Armour founder unloads $100M in stock By Investing.com

By Davit Kirakosian

Here’s a Pro Recap of the biggest insider trades and hedge fund action you might have missed this week: News from Under Armour, BDT Capital, Occidental Petroleum and Berkshire Hathaway, Top Copper Buys at the Grocery Outlet, alignment technique and CNX Resources.

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Armor founder Kevin Plank has sold $100 million in stock

under shield (NYSE::) BDT Capital Partners has acquired approximately 16 million Class C shares of Under Armor stock from Kevin Plank, CEO and Head of Brand. The current value of these shares is about $100 million.

After the sale, Plank remains the company’s largest shareholder, owning approximately 51 million common shares across the company’s three classes (A, B, and C). This represents about 12% of the company’s shares and gives him 65% of voting control. Blanc made it clear that there is no intention to sell any more of his shares.

Shares are up about 10% for the week.

Warren Buffett’s Berkshire Adds Another $270 Million in Occidental Petroleum Stock

Berkshire Hathaway (NYSE:) revealed that it has acquired another 4.66 million common shares in Occidental Petroleum (NYSE: ), valued at more than $270 million, at a price of $58.3026 – $58.8545.

Following the acquisition, Berkshire owns 221,990,942 common shares of Occidental Petroleum, plus 93,532 Class A preferred stock and warrants the acquisition of an additional 83,858,848.81 common shares.

Occidental shares added just under 1% for the week.

3 purchases from within

Grocery Outlet (NASDAQ:) Shares rose more than 3% on Friday after director Eric Ragatz revealed that he had bought 70,000 common shares, or the equivalent of $2 million, at a price of $27.99-$29.

Align Technology (NASDAQ:) Shares gained more than 5% Thursday after director Kevin Dallas bought 7,000 common shares, or roughly $2 million, at a price of $285.2572. Dallas owns 12,246 total shares after the purchase.

CNX Resources (NYSE:) Director Bernard Lanigan purchased 137,835 common shares, or the equivalent of $2.1 million, at $15.2358.

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