Although US stocks closed higher on Monday, 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: The Charles Schwab Corporation SCHW CEO Walter Bettinger acquired a total of 36,640 shares at at an average price of $69.49. To acquire these shares, it cost around $2.55 million.
- What’s Happening: Charles Schwab recently reported worse-than-expected Q1 EPS and sales results.
- What Charles Schwab Does: Charles Schwab provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services.
- The Trade: Xerox Holdings Corporation XRX 10% owner Icahn Partners Master Fund Lp acquired a total of 2,130,423 shares at an average price of $17.04. To acquire these shares, it cost around $36.3 million.
- What’s Happening: Xerox recently said Q1 EPS results were down year over year.
- What Xerox Holdings Does: Xerox is an original equipment manufacturing and software company. Xerox operates in one segment--design, development, and sale of printing technology and related solutions--while deriving 60% of its revenue from the U.S. and 40% from international markets.
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- The Trade: Affirm Holdings, Inc. AFRM 10% owner Jasmine Ventures Pte Ltd bought a total of 800,000 shares at an average price of $32.00. To acquire these shares, it cost around $25.6 million.
- What’s Happening: Affirm Holdings, is scheduled to host a conference call to discuss Q3 financial results on Thursday, May 12, 2022.
- What Affirm Holdings Does: Affirm Holdings offers a platform for digital and mobile-first commerce. It comprises a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app.
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