Adobe Systems Incorporated (ADBE) Registers Notable Cluster of Insider Selling, Plus Two Other Companies with Insider Selling

Page 2 of 2

Maker of Veterinary Products Sees CEO Offload Shares

Heska Corp (NASDAQ:HSKA) saw its most informed and supposedly most influential executive unload a sizable block of shares this past week. President and CEO Kevin S. Wilson sold 14,040 shares on Friday at prices that fell between $37.95 and $40.01 per share, cutting his direct ownership stake to 165,969 shares. Mr. Wilson also holds several hundreds of thousands of shares indirectly. In fact, the CEO has an aggregate ownership of 542,723 shares that accounts for 7.9% of the company’s outstanding shares, held by a limited liability company owned by Mr. Wilson and his spouse, as well as trusts for the benefit of his children and family.

The maker of advanced veterinary diagnostic and other specialty veterinary products has seen its shares gain 2% thus far in 2016, thanks to a surge of 31% in the past three months. Heska Corp (NASDAQ:HSKA)’s revenue for the first three months of 2016 was $27.15 million, up from $22.89 million reported a year ago. The increase in the company’s top line was mainly driven by higher revenue from its imaging products, instrument consumables and hematology instruments.

Heska shares are currently changing hands at around 31.2-times expected earnings, significantly above the forward PE ratio of 16.6 for the S&P 500 Index. There were 10 money managers from our system with long positions in the company at the end of the March quarter, who hoarded up 11% of its total number of outstanding shares. Peter S. Park’s Park West Asset Management owned nearly 282,000 shares of Heska Corp (NASDAQ:HSKA) on March 31.

Follow Heska Corp (NASDAQ:HSKA)

Processed Meat Manufacturer Has Board Member Sell Shares amid Stock Underperformance

One member of Hormel Foods Corp (NYSE:HRL)’s board sold some shares this past week. Board member Dakota A. Pippins discarded 5,000 units of common stock on Friday at $36.74 apiece, cutting his ownership to 96,416 units.

The processed meat manufacturer has seen the value of its shares drop by 8% since the beginning of 2016. Hormel Foods Corp (NYSE:HRL) posted net sales of $2.30 billion for the three months that ended April 24, up from $2.28 billion reported for the same period of the previous year. The increase was mainly driven by the acquisition of the much smaller organic processed meats company called Applegate Farms LLC. The New Jersey-based company was acquired in mid-July of 2015 for $774.1 million in cash. Meanwhile, Hormel Foods reported record net earnings per diluted shares of $0.40 for the second quarter of fiscal 2016, up from $0.33 per diluted shares reported a year ago.

The number of hedge fund vehicles from our system with equity investments in Hormel Foods rose to 21 from 15 during the March quarter, while the overall value of those investments jumped to $254.67 million from $168.86 million quarter-on-quarter. Israel Englander’s Millennium Management acquired a new stake of nearly 412,000 shares of Hormel Foods Corp (NYSE:HRL) during the March quarter.

Follow Hormel Foods Corp (NYSE:HRL)

Disclosure: None

Page 2 of 2