When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform.
- The Trade: Asana, Inc. (NYSE:ASAN) President, CEO and Chair Dustin Moskovitz acquired a total of 1000000 shares at an average price of $73.70. To acquire these shares, it cost $73,701,005.04.
- What’s Happening: The company’s stock gained around 9% over the previous month.
- What Asana Does: Asana Inc is a software company. The company provides a platform for work management that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.
Superior Industries International
- The Trade: Superior Industries International, Inc. (NYSE:SUP) 10% owner Thomas Lynch acquired a total of 137112 shares at an average price of $8.87. To acquire these shares, it cost $1,215,935.37.
- What’s Happening: The company, in November, posted a wider-than-expected quarterly loss.
- What Superior Industries International Does: Superior Industries International Inc is a manufacturer of aluminum wheels for passenger automobiles and light-duty vehicles.
- The Trade: RF Industries, Ltd. (NASDAQ:RFIL) Director Mark Holdsworth bought a total of 33480 shares at an average price of $7.87. To acquire these shares, it cost $263,552.34.
- What’s Happening: RF Industries recently reported fourth-quarter FY21 net sales growth of 97% year-on-year to $21.1 million.
- What RF Industries Does: RF Industries Ltd is engaged in the design, manufacture, and marketing of interconnect products and systems, including coaxial and specialty cables, fiber optic cables and connectors, and electrical and electronic specialty cables.