Insiders Buy More Than $15M Of 3 Stocks

Although US stock futures traded higher this morning on Thursday, 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.

Confluent

  • The Trade: Confluent, Inc. CFLT 10% owner Altimeter Capital Management General Partner Llc acquired a total of 133,683 shares at an average price of $38.21. To acquire these shares, it cost around $5.11 million.
  • What’s Happening: Barclays maintained Confluent with an Equal-Weight and lowered the price target from $71 to $44.
  • What Confluent Does: Confluent Inc is a new category of data infrastructure designed to connect all the applications, systems, and data layers of a company around a real-time central nervous system.

Excelerate Energy

  • The Trade: Excelerate Energy, Inc. EE President and CEO Steven Kobos acquired a total of 265,258 shares at an average price of $24.00. To acquire these shares, it cost around $6.37 million.
  • What’s Happening: Excelerate Energy entered into a senior secured revolving credit facility.
  • What Excelerate Energy Does: Excelerate Energy, Inc. provides flexible liquefied natural gas (LNG) solutions worldwide.

Don’t forget to check out our premarket coverage here .

Also check this: 3 Stocks Under $2 Insiders Are Aggressively Buying

Duolingo

  • The Trade: Duolingo, Inc. DUOL 10% owner Durable Capital Partners Lp bought a total of 45,600 shares at an average price of $88.81. To acquire these shares, it cost around $4.05 million.
  • What’s Happening: The company’s stock dropped around 50% over the past six months.
  • What Duolingo Does: Duolingo Inc is a mobile learning platform to learn languages and the top-grossing app in the Education category on both Google Play and the Apple App Store.
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