Unwired Planet (UPIP) develops patents that allow mobile devices to connect to the Internet.
Insider buying during the last 30 days
Here is a table of Unwired Planet's insider activity during the last 30 days.
|Name||Title||Trade Date||Shares Purchased||Current Ownership||Increase In Shares|
|Philip Vachon||Director||March 24||25,000||110,637 shares||+29.2%|
|Michael Mulica||Director||March 24||100,000||487,000 shares||+25.8%|
|Daniel Mendez||EVP||March 24||50,000||800,000 shares||+6.7%|
There have been 175,000 shares purchased by insiders during the last 30 days.
Insider buying by calendar month
Here is a table of Unwired Planet's insider activity by calendar month.
|Month||Insider buying / shares||Insider selling / shares|
There have been 2,165,000 shares purchased, and there have been zero shares sold by insiders since January 2013.
Unwired Planet reported the fiscal 2014 second-quarter, which ended December 30, financial results on January 30 with the following highlights:
|Net loss||$7.3 million|
The three insiders purchased their shares after these results.
On March 20, Unwired Planet and Lenovo (OTCPK:LNVGY) announced that Lenovo had agreed to purchase a portfolio of patents from Unwired Planet and to take a term-based license to Unwired Planet's patent portfolio. The aggregate consideration for the combined transaction was $100 million payable in cash.
The three insiders purchased their shares after these news.
|Qtrly Rev Growth (yoy):||N/A||0.13||34.75|
|PEG (5 yr expected):||-0.38||1.30||-3.21|
Unwired Planet has the second-highest insider ownership among these three companies.
Here is a table of these competitors' insider activities during the last 12 months.
|Company||Insider buying / shares||Insider selling / shares|
Only Unwired Planet has seen intensive insider buying during the last 30 days.
There have been three different insiders buying Unwired Planet, and there have not been any insiders selling Unwired Planet during the last 30 days. Two of these three insiders increased their holdings by more than 10%. Unwired Planet has an insider ownership of 1.98%.
The three insiders purchased their shares at prices ranging from $1.97 to $2.00. I believe Unwired Planet could be a good pick below $2 based on the intensive insider buying.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in UPIP over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.