The Eurozone economy grew 0.3% on quarter during the final three months of 2021, recording the slowest growth in three quarters amid the spread of the omicron variant. Investors, meanwhile, focused on some 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.

Netflix

• The Trade: Netflix, Inc. (NASDAQ:NFLX) Co-CEO Reed Hastings acquired a total of 51,440 shares at an average price of $388.83. To acquire these shares, it cost around $20 million.
• What’s Happening: Netflix recently reported mixed Q4 earnings results and issued Q1 guidance below estimates.
• What Netflix Does: Netflix's primary business is a streaming video on demand service now available in almost every country worldwide except China.

Asana

• The Trade: Asana, Inc. (NYSE:ASAN) President, CEO and Chair Dustin Moskovitz acquired a total of 12,50,000 shares at an average price of $48.97. To acquire these shares, it cost $61.21 million.
• What’s Happening: Keybanc recently maintained Asana with an Overweight and lowered the price target from $103 to $97.
• 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.

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Beacon Roofing Supply

• The Trade: Beacon Roofing Supply, Inc. (NASDAQ:BECN) 10% owner Cdr Boulder Holdings Lp bought a total of 107,456 shares at an average price of $55.84. To acquire these shares, it cost $6 million.
• What’s Happening: Beacon is expected to release its earnings results for the transition period from October 1, 2021 to December 31, 2021 and for the calendar year ended December 31, 2021 on February 3, 2022.
• What Beacon Roofing Supply Does: Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada.

Verizon Communications