In a recent move signaling confidence in the company, Fox Factory Holding Corp (NASDAQ:FOXF) CEO Michael C. Dennison purchased shares of the company. Dennison purchased a total of 11,250 shares at a price of $44.3 per share, for a total investment of $498,374.
The transaction, dated June 10, 2024, was disclosed in a document filed with the Securities and Exchange Commission. Following the purchase, Dennison’s stake in the company increased: the CEO now owns a total of 130,266 shares of Fox Factory Holding Corp.
Investors often view insider purchases as a positive sign that management believes in the company’s future prospects and are willing to put their own money into the stock. The purchase of Dennison comes as the company continues to navigate the competitive landscape of the motorcycle, bicycle and parts manufacturing industry.
Fox Factory Holding Corp, incorporated in Delaware and headquartered in Duluth, Georgia, is known for designing and developing high-performance suspension products for vehicles, including off-road motorcycles and trucks.
The share transaction was carried out directly, without the use of derivative securities. Details of the transaction, including the number of shares purchased and the price per share, are now publicly available for investors trying to understand Fox Factory Holding Corp.’s recent insider trading activity.
For those who follow insider transactions, the recent CEO purchase provides noteworthy insight into the executive’s view of the company’s value and potential.
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