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: Alphabet Inc. GOOGL Director Larry Page acquired a total of 13889 shares . The insider also sold a total of 12289 shares at an average price of $2,729.70.
What’s Happening: Alphabet recently reported better-than-expected results for its second quarter.
What Alphabet Does: Alphabet is a holding company, with Google, the Internet media giant, as a wholly owned subsidiary.
The Trade: Robinhood Markets Inc HOOD CEO Vladimir Tenev acquired a total of 4013657 shares . The insider also disposed a total of 3239980 shares at an average price of $37.38.
What’s Happening: Robinhood Markets recently priced its initial public offering at the lower end of the indicated range.
What Robinhood Does: Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology.
Beacon Roofing Supply
The Trade: Beacon Roofing Supply, Inc. BECN 10% owner Cdr Investment Associates Ix Ltd, Cdr Boulder Holdings Lp bought a total of 108056 shares at an average price of $55.53. The insider spent $5,999,971.48 to acquire those shares.
What’s Happening: Beacon is expected to report its earnings for the second quarter on August 5, 2021. The company’s shares have surged around 35% since the start of the year.
What Beacon Does: Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada.
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