Although U.S. stock futures traded lower this morning after rising tensions between Russia and Ukraine, 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.
- The Trade: Republic Services, Inc. RSG 10% owner William Gates III acquired a total of 362,747 shares at an average price of $117.17. To acquire these shares, it cost around $42.5 million.
- What’s Happening: The company recently posted upbeat quarterly results.
- What Republic Services Does: Republic Services ranks as the second-largest integrated provider of traditional solid waste services in the United States, operating roughly 186 active landfills and more than 200 transfer stations.
- The Trade: Asana, Inc ASAN President, CEO and Chair Dustin Moskovitz acquired a total of 1,250,000 shares at an average price of $70.42. To acquire these shares, it cost around $88.03 million.
- What’s Happening: The company’s stock gained around 19% 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.
- The Trade: Albemarle Corporation ALB Chairman, President and CEO Kent Masters bought a total of 5,241 shares at an average price of $190.80. To acquire these shares, it cost around $1 million.
- What’s Happening: Albemarle reported worse-than-expected Q4 sales results.
- What Albemarle Does: Albemarle is the world's largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries.
- The Trade: Warby Parker Inc. WRBY 10% owner Daniel Sundheim bought a total of 1,300,000 shares at an average price of $29.81. The insider spent around $38.75 million to buy those shares.
- What’s Happening: Goldman Sachs, last week, maintained Warby Parker with a Buy and lowereds the price target from $68 to $42.
- What Warby Parker Does: Warby Parker Inc is engaged in designing and development of designer prescription glasses and contacts to eye exams and vision tests.
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