Executives Buy Around $93M Of 3 Stocks

Although US stocks closed sharply lower on Friday, there were a few notable insider trades.

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. ASAN President, CEO and Chair Dustin Moskovitz acquired a total of 1,250,000 shares at an average price of $63.20. To acquire these shares, it cost around $79.01 million.
• What’s Happening: The company’s stock gained around 2% over the past 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.

PennyMac Financial Services

• The Trade: PennyMac Financial Services, Inc. PFSI Director Farhad Nanji acquired a total of 204,018 shares at an average price of $61.11. To acquire these shares, it cost $12.47 million.
• What’s Happening: PennyMac Financial recently reported Q4 earnings of $2.79 per share on sales of $693.81 million.
• What PennyMac Financial Does: PennyMac Financial Services Inc is a United States-based financial services company primarily engaged in mortgage lending.

Also check this: 3 Penny Stocks Insiders Are Buying

INDUS Realty Trust

• The Trade: INDUS Realty Trust, Inc. INDT 10% owner Jeffrey Aronson bought a total of 19,343 shares at an average price of $75.99. To acquire these shares, it cost around $1.47 million.
• What’s Happening: INDUS Realty Trust is expected to release its financial results for the three and twelve months ended December 31, 2021 on Monday, March 7, 2022.
• What INDUS Realty Trust Does: INDUS Realty Trust Inc is a real estate company. The company is engaged in developing, managing and leasing industrial properties, and to a lesser extent, office/flex properties.