Newfield Exploration Co. (NFX) and Microchip Technology Inc. (MCHP) Witness Some Noteworthy Insider Selling, Plus Three Other Companies with Insider Buying

Newly-Appointed Board Member of This Patent Services Provider Acquired New Stake Last Week

RPX Corp (NASDAQ:RPXC) had not recorded any insider buying activity for quite some time until a newly-appointed Director purchased a massive block of shares this past week. Board member Gilbert Samuel Palter acquired a new stake of 42,000 shares on Thursday for $9.63 each and another block of 58,000 shares on Friday at $9.87 apiece. The 100,000-share block is held by EGADS Enterprises Inc., which is wholly owned by Mr. Palter.

Mr. Palter was appointed to RPX Corp (NASDAQ:RPXC)’s Board of Directors in late May after the company reached a settlement agreement with Mangrove Partners, run by Nathaniel August. In a letter to the Board released in mid-March, the activist shareholder outlined several issues the patent services provider has been facing, including “poor capital allocation”, excessive employee compensation”, “wasteful growth projects”, “stagnant core business growth”, among other things. RPX shares are 8% in the red year-to-date. Mangrove Partners was the owner of 2.58 million shares of RPX Corp (NASDAQ:RPXC) at the end of the March quarter.

One Influential Executive of This Healthy Grocery Retailer Bought Shares Last Week

Sprouts Farmers Market Inc. (NASDAQ:SFM)’s Chief Financial Officer, Bradley Lukow, snapped up 10,000 shares on Thursday at prices varying from $25.15 to $25.16 per share. After the recent purchase Mr. Lukow currently owns 28,525 shares, including 18,525 restricted stock units.

The healthy grocery store has seen its market value decline by nearly 7% since the start of 2016. Sprouts Farmers Market Inc. (NASDAQ:SFM), a leading specialty retailer of fresh, natural and organic food, operates 231 stores in 13 states as of May 5. The company opened 11 new stores during its first quarter that ended April 3, while the fully-year unit store count is set to increase by 36 units. Sprouts Farmers Market anticipates net sales growth in the range of 17%-to-19% for the entire year, with comparable store sales growth expected to be in the range of 4%-to-6%. The company’s first-quarter net sales were $993.2 million, up 16% year-over-year. Dmitry Balyasny’s Balyasny Asset Management has 1.85 million shares of Sprouts Farmers Market Inc. (NASDAQ:SFM) among its holdings as of the end of March.