4 Stocks Insiders Are Buying - Asana (NYSE:ASAN), Chewy (NYSE:CHWY)

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.

Asana

The Trade: Asana, Inc. (NYSE:ASAN) President, CEO and Chair Dustin Moskovitz acquired a total of 1250000 shares at an average price of $77.74. To acquire these shares, it cost $97,170,169.87.
What’s Happening: Morgan Stanley recently maintained Asana with an Equal-Weight and lowered the price target from $151 to $80.
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.

Quanex Building Products

The Trade: Quanex Building Products Corporation (NYSE:NX) Director Jason Lippert acquired a total of 5000 shares at an average price of $23.40. To acquire these shares, it cost $117,000.00.
What’s Happening: Quanex Building Products recently reported better-than-expected Q4 results.
What Quanex Building Products Does: Quanex Building Products Corp is a manufacturer of components sold to original equipment manufacturers in the building products industry.

Stitch Fix

The Trade: Stitch Fix, Inc. (NASDAQ:SFIX) 10% owner Working Capital Advisors bought a total of 3398428 shares at an average price of $30.28. To acquire these shares, it cost $102,908,604.80.
What’s Happening: Stitch Fix recently issued Q2 net sales guidance below estimates.
What Stitch Fix Does: Stitch Fix Inc offers personal style service for men and women. The company engages in delivering one-to-one personalization to clients through the combination of data science and human judgment.

Chewy

The Trade: Chewy, Inc. (NYSE:CHWY) Director James A Star bought a total of 32278 shares at an average price of $55.58. The insider spent $1,793,989.93 to buy those shares.
What’s Happening: Citigroup recently maintained Chewy with a Neutral and lowered the price target from $66 to $61.
What Chewy Does: Chewy is the largest e-commerce pet care retailer in the U.S., generating $7.1 billion in 2020 sales across pet food, treats, hard goods, and pharmacy categories.

NXQuanex Building Products Corp

$19.27-%

SFIXStitch Fix Inc

$3.130.62%

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