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Weekly Top Insider Buys: ADBC, NPBC, BSET, ADC, EXA

By: GuruFocus
Posted: 1/21/2013 11:14:00 AM
Referenced Stocks: ADBE;ADC;BSET;EXA;NPBC

According to GuruFocus Insider Data , these are the largest insider buys during the past week: Adobe Systems Inc. ( ADBE ), National Penn Bancshares ( NPBC ), Bassett Furniture Industries ( BSET ), Agree Realty Corporation ( ADC ) and Exa Corp ( EXA ).

The overall trend of insiders is illustrated in the chart below:



Adobe Systems Inc. ( ADBE ): Director Amy Banse Bought 5,000 Shares

Director of Adobe Systems Inc.. Amy Banse, bought 5,000 shares on 1/16/2013 at an average price of $37.88. Adobe Systems Inc. was originally incorporated in California in October 1983 and was reincorporated in Delaware in May 1997. Adobe Systems Inc. has a market cap of $18.8 billion; its shares were traded at around $37.88 with a P/E ratio of 24.2718 and P/S ratio of 4.3197.

On Dec. 13, Adobe Systems Incorporated ( ADBE ) today reported financial results for its fourth quarter and fiscal year ended Nov. 30, 2012. Adobe achieved revenue in fourth quarter fiscal year 2012 of $1.153 billion, exceeding its targeted range of $1.075 billion to $1.125 billion. Diluted earnings per share were $0.44 on a GAAP-basis, and $0.61 on a non-GAAP basis. Operating income was $307.8 million and net income was $222.3 million on a GAAP basis. Operating income was $414.7 million and net income was $307.9 million on a non-GAAP basis.

Last week, Director Amy Banse bought 5,000 shares of ADBE stock. In December, Executive Vice President, CFO and Assistant Secretary Mark Garrett , Director James E. Daley , Senior Vice President Digital Marketing BU Bradley Rencher, Senior Vice President Digital Media BU David Wadhwani and Director Robert Sedgewick sold shares.

National Penn Bancshares ( NPBC ): Director Christian F. Martin IV Bought 1,030 Shares

Director of National Penn Bancshares, Christian F. Martin IV, bought 1,030 shares on 1/17/2013 at an average price of $9.71. National Penn Bancshares is a Pennsylvania business corporation and a registered bank holding company headquartered in Boyertown, Penn. National Penn Bancshares has a market cap of $1.46 billion; its shares were traded at around $9.71 with a P/E ratio of 15.625 and P/S ratio of 4.2463. The dividend yield of National Penn Bancshares stocks is 3.7%.

On Oct. 26, National Penn Bancshares Inc. reported net income available to common shareholders of $26.0 million for the third quarter 2012, an increase of 16% compared to $22.4 million for the second quarter of 2012. Diluted earnings per share were $0.17, compared to $0.15 per diluted share for the second quarter of 2012. Year-to-date net income available to common shareholders also increased 16% to $73.8 million from $63.7 million for the prior year period. Diluted earnings per share were $0.49, compared to $0.42 per diluted share for the nine months ended Sept. 30, 2011.

Last week, Director Christian F. Martin IV bought 1,030 shares of NPBC stock. Chairman Thomas Arthur Beaver bought 9,000 shares in October.

Bassett Furniture Industries ( BSET ): Chairman of the Board Paul Fulton Bought 2,000 Shares

Chairman of the Board of Bassett Furniture Industries, Paul Fulton, bought 2,000 shares on 1/17/2013 at an average price of $1.272. Bassett Furniture Industries Inc. was incorporated in Virginia. Bassett Furniture Industries has a market cap of $144.428 million; its shares were traded at around $13.24 with a P/E ratio of 14.2653 and P/S ratio of 0.5818. The dividend yield of Bassett Furniture Industries stocks is 1.51%.

On Jan. 10, Bassett Furniture Industries Inc. announced its results of operations for its fiscal quarter ended Nov. 24, 2012. Consolidated sales for the fourth quarter 2012 increased 21% as compared to the fourth quarter 2011. Operating profit for the fourth quarter was $2.5 million versus $1.1 million for the fourth quarter last year. Wholesale sales increased 18% compared to the fourth quarter 2011.

Last week, Chairman of the Board Paul Fulton bought 2,000 shares of BSET stock. In November, Vice President and Chief Accounting Officer John Michael Daniel bought 200 shares. Chairman of the Board Paul Fulton and President and CEO Robert H. Spilman Jr. bought shares in October. Director William C. Wampler Jr. and Senior Vice President Wood John E. Bassett III sold shares in October.

Agree Realty Corporation ( ADC ): Director John Rakolta Jr. Bought 50,000 Shares

Director of Agree Realty Corporation, John Rakolta Jr., bought 50,000 shares on 1/15/2013 at an average price of $28.23. Agree Realty Corporation, a Maryland corporation, is a fully integrated, self-administered and self-managed REIT. Agree Realty Corporation has a market cap of $323.068 million; its shares were traded at around $28.23 with a P/E ratio of 25 and P/S ratio of 7.8064. The dividend yield of Agree Realty Corporation stocks is 5.66%.

On Oct. 29, Agree Realty Corporation announced results for the quarter ended Sept. 30, 2012. Third quarter funds from operations (FFO) increased to $6,052,000 compared with FFO, as adjusted, for the third quarter of 2011 of $5,481,000. FFO per diluted share for the third quarter of 2012 was $0.52 compared with FFO per diluted share, as adjusted, of $0.55 for the third quarter of 2011. The decrease in FFO per share was primarily due to the increase in the weighted average shares outstanding as the result of the common share offering in January 2012. Net income for the third quarter of 2012 increased to $4,025,000, or $0.35 per diluted share, compared to net loss for the third quarter of 2011 of $(1,855,000), or $(.19) per share. Total revenues increased by $1,552,000 to $9,279,000, compared with total revenues of $7,727,000 in the third quarter of 2011.

Exa Corp ( EXA ): COO and CFO Edmond L. Furlong Bought 15,998 Shares

COO and CFO of Exa Corp, Edmond L. Furlong, bought 15,998 shares on 1/17/2013 at an average price of $0. Exa Corp is incorporated in the state of Delaware. The company was founded in 1991 and began its operations in 1992. Exa Corp has a market cap of $134.565 million; its shares were traded at around $10.04 with a P/E ratio of 10.1215 and P/S ratio of 2.7405.

On Dec. 3, Exa Corporation announced financial results for the third quarter of fiscal 2013, which ended Oct. 31, 2012. Total revenue for the third quarter of fiscal 2013, which ended Oct. 31, 2012, was $12.7 million, an increase of 9% from the comparable period in fiscal 2012. GAAP income from operations was $0.8 million for the third quarter of fiscal 2013. Non-GAAP income from operations was $1.2 million for the third quarter of fiscal 2013, compared to $2.3 million in the comparable period in fiscal 2012.

This month, COO and CFO Edmond L. Furlong, Stephen P. Sarno and Director John William Poduska Sr. bought shares of EXA stock. CEO and President Stephen A. Remondi sold shares. Director and 10% Owner John J. Shields and 10% Owner Capital Ventures Boston IV Ltd. sold shares in August.

For the complete list of stocks that were bought by their company executives, go to: Insider Buys.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .