Nancy Pelosi’s Husband Bought Roblox, Microsoft Stock
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https://www.barrons.com/articles/nancy-pelosi-husband-bought-roblox-microsoft-stock-51618264201
Speaker Nancy Pelosi’s husband just disclosed he bought Roblox stock the day it went public, and acquired Microsoft stock through options.
Paul Pelosi bought 10,000 Roblox (ticker: RBLX) shares on March 10, the first day the videogame provider’s stock began trading on the New York Stock Exchange. He paid $500,000 to $1 million in total, according to a form Speaker Pelosi filed April 9 with the Clerk of the House of Representatives. Specific figures aren’t required for disclosure, only ranges.
The speaker’s husband also acquired 25,000 Microsoft shares on March 19 through call options, which allow a holder to buy a set amount of stock at a pre-agreed price. Using the options, an action known as “exercising” options, he paid $1.95 million to acquire 15,000 shares for $130 each, and paid $1.4 million for 10,000 shares for $140 each.
Paul Pelosi and Speaker Pelosi’s office didn’t respond to requests for comment on the stock purchases.
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Paul Pelosi, a businessman and private investor, usually wouldn’t be required to publicly report trades. However, public officials, their spouses, and dependent children must report financial transactions valued at more than $1,000, typically within 30 days.
Roblox stock began trading publicly through a direct listing, bypassing the conventional initial public offering, opening at $64.50. Wall Street remains upbeat on the shares. Through Monday’s close at $75, they have gained 16.3% from that opening price.
Microsoft stock has surged 15.1% year to date, topping the 9.9% gain in the S&P 500 index.
Microsoft’s fiscal-second-quarter earnings, reported in January, crushed estimates. Goldman Sachs is upbeat on the shares. Microsoft just agreed to buy voice-technology company Nuance Communications (NUAN) for $19.7 billion.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin at edward.lin@barrons.com and follow @BarronsEdLin.
Speaker Nancy Pelosi’s husband just disclosed he bought Roblox stock the day it went public, and acquired Microsoft stock through options.
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