Here’s a summary of the most significant insider transactions disclosed on Thursday, December 11, 2025, for US-listed companies.
Top Insider Buys
SurgePays, Inc. (NASDAQ:SURG) Director David Allen May purchased 38,422 shares of the company’s common stock on December 10, 2025, in transactions totaling $61,646. The purchases were made at prices ranging from $1.599 to $1.62, slightly above the current trading price of $1.47. Specifically, May acquired 28,422 shares at $1.599 per share and an additional 10,000 shares at $1.62 per share. Following these transactions, May directly owns 158,116 shares of SurgePays, representing a significant stake in the micro-cap company with a market capitalization of $31.35 million. According to InvestingPro data, the stock’s RSI suggests it is in oversold territory after falling 16.48% in the past week and is trading below its Fair Value at just 42% of its 52-week high of $3.47.
ConnectM Technology Solutions (NASDAQ:CNTM) Director Bhaskar Panigrahi reported purchasing shares of the company’s common stock on November 28, 2025. According to a Form 4 filing with the Securities and Exchange Commission, Panigrahi acquired 194,900 shares for a total of $42,878 at prices ranging from $0.22 to $0.24. Additionally, 102,500 shares were purchased through Avanti Holdings LLC, where Panigrahi is the controlling equity holder, for a total of $24,600.
DeFi Development Corp (EXCHANGE:DFDV) Chief Operating Officer Parker White reported purchasing 17,760 shares of common stock on December 10, 2025. The shares were bought at a price of $5.76, totaling $102,297. This purchase comes as the stock trades near $5.72, having fallen significantly over the past six months but still showing a remarkable 705% return over the last year. Following the transaction, White directly owns 269,875 shares of DeFi Development Corp. White also has indirect ownership of 2,488,992 shares of common stock and 4,500 shares of Series A Preferred Stock through Defi Dev LLC, where he serves as manager. Additionally, White indirectly owns 333,841 shares of common stock through SolSync Solutions Partnership, where he is the general partner. The insider purchase comes at a time when the company trades at a low P/E ratio of 1.84 and is profitable with $70.19 million in net income.
Hycroft Mining Holding Corp (NASDAQ:HYMC) ten percent owner Eric Sprott and 2176423 Ontario Ltd reported purchasing a total of 480,000 shares of Class A common stock in three transactions. The purchases occurred between December 9 and December 11, 2025, at prices ranging from $11.64 to $12.36, and totalled $5,703,600. The transactions were executed as follows: On December 9, 300,000 shares were purchased at $11.74 per share, followed by 60,000 shares on December 10 at $11.64 per share, and 120,000 shares on December 11 at $12.36 each. Following these transactions, the total shares owned by Sprott Mining Inc., a wholly-owned subsidiary of 2176423 Ontario Ltd, increased to 29,946,352. This insider buying comes as HYMC shares have surged 459% year-to-date, with the stock trading near its 52-week high of $13. With a current market capitalization of $1.01 billion and a Price/Book ratio of 19.88, InvestingPro analysis suggests the stock is currently trading above its Fair Value.
Republic Services Inc (NYSE:RSG) Director Katharine Weymouth has purchased 478 shares of the company’s common stock at $209.46, for a total transaction value of $100,121, according to a Form 4 filing with the Securities and Exchange Commission on December 9, 2025. Following the transaction, Weymouth directly owns 5,740 shares of Republic Services.
Top Insider Sells
Air Lease Corp (NYSE:AL) Director Steven F. Udvar-Hazy sold a total of $7.86 million in shares of the company’s Class A Common Stock, according to a Form 4 filing with the Securities and Exchange Commission. The sales occurred between December 9 and December 11, 2025, with prices ranging from $63.9502 to $64.06 per share. On December 9, Udvar-Hazy sold 2,500 shares at $64.06 per share. Another 300 shares were sold at the same price on the same day. On December 10, he sold 18,000 shares at a weighted average price of $63.9503, with individual sales prices ranging from $63.95 to $63.955. Additionally, 36,000 shares were sold at a weighted average price of $63.9856, with prices ranging from $63.95 to $64.01.
Roivant Sciences Ltd (NASDAQ:ROIV) President & Immunovant CEO Eric Venker sold 200,000 common shares of the company on December 9, 2025, for a total of $4.17 million. The shares were sold at a weighted average price of $20.85. On the same day, Venker also exercised options to acquire 200,000 common shares at an exercise price of $3.85, for a total value of $770,000.
Carpenter Technology Corp (NYSE:CRS) President and COO Brian J. Malloy sold shares of common stock in multiple transactions on December 9th, 10th, and 11th, 2025, for a total value of $23,001,395. The sales occurred at prices ranging from $300.2512 to $310.204 per share, below the current trading price of $321.95. According to a Form 4 filing with the Securities and Exchange Commission, Malloy sold 6,741 shares on December 9th. On December 10th, Malloy sold 1600 shares, 3,287 shares, 5,545 shares, 5,681 shares, 6,108 shares, 11,894 shares, 9,473 shares and 100 shares. On December 11th, Malloy sold 2,000 and 2,130 shares. The stock has delivered impressive returns, with a 90.44% gain year-to-date and 82.42% over the past year.
Tesla (NASDAQ:TSLA) director Kimbal Musk sold 56,820 shares of the company’s common stock on December 9, 2025, for approximately $25.6 million. The shares were sold at a weighted average price of $450.66, in multiple transactions ranging from $450.44 to $450.90. Following the sale, Musk directly owns 1,376,373 shares of Tesla. At current prices, these holdings are valued at approximately $615 million, representing a small fraction of Tesla’s massive $1.48 trillion market capitalization. Tesla’s stock currently trades at $446.89, slightly below the sale price, with InvestingPro data showing the stock has gained an impressive 40.04% over the past six months despite its high volatility.
Cloudflare, Inc. (NASDAQ:NET) President and Board Co-Chair Michelle Zatlyn sold a total of 71,441 shares of Class A Common Stock between December 9 and December 11, 2025. The sales were executed at prices ranging from $204.7988 to $210.2534, resulting in a total transaction value of $15,888,931. The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 14, 2025. The transaction occurred near Cloudflare’s current trading price of $207.95, with the stock having delivered an impressive 81.6% return over the past year. Cloudflare, now valued at $72.84 billion, has seen its shares surge 93.12% year-to-date despite not being profitable over the last twelve months.
Tracking insider transactions provides valuable insights for investors as these activities often signal insiders’ confidence in their companies’ future prospects. While insider buying may suggest that those with the most knowledge of a company believe its stock is undervalued, insider selling doesn’t necessarily indicate negative sentiment as it can occur for various personal reasons. However, when multiple insiders buy or sell within a short period, or when transactions represent significant portions of their holdings, these patterns can provide meaningful signals about a company’s potential trajectory. Investors should consider insider activity as one of many factors in their investment decision-making process.
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