Top Buys by Top Brass: CEO Anderson’s $116K Bet on ESTE

A company’s own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ”top brass” over the trailing six month period, one of which was a total of $116K by Robert John Anderson, CEO at Earthstone Energy Inc (Symbol: ESTE).

Purchased	Insider	Title	Shares	Price/Share	Value
03/17/2023	Robert John Anderson	President and CEO	10,000	$11.60	$116,000.00

Anderson’s average cost works out to $11.60/share. Shares of Earthstone Energy Inc were changing hands at $13.03 at last check, trading up about 1.8% on Friday. The chart below shows the one year performance of ESTE shares, versus its 200 day moving average:

Looking at the chart above, ESTE’s low point in its 52 week range is $10.65 per share, with $22.25 as the 52 week high point — that compares with a last trade of $13.03.

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Click here to find out which other top insider buys by the ”top brass” you need to know about »

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.