AGCO Director Purchases Large Number of Stocks

Insider Trading reports that although large insider buys are a fairly common occurrence at publicly traded companies, it is rare for a game-changing accumulation to occur within the space of a few weeks. However, this is exactly what has happened at AGCO Corporation. Since late March, a company director named Mallika Srinivasan has purchased millions of shares of the company’s stock and recently reported a total stake of more than 5%.

Indeed, she has purchased approximately $75 million in shares since April 1 alone. Thus far, she has shown no indication of slowing down her purchase program. She is not alone, a Form 4 filed with the SEC has disclosed that Hans-Bernd Veltmaat, a senior vice president at AGCO Corporation had formulated a written trading plan in late February 2013 and directly purchased a little over 3,900 shares at that price on April 16th.