Although US stocks closed mixed on Tuesday, 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: HashiCorp, Inc. HCP 10% owner GGV Capital Select L.P. acquired a total of 412,274 shares at at an average price of $37.73. To acquire these shares, it cost around $15.56 million.
- What’s Happening: HashiCorp is expected to release financial results for its first quarter of fiscal year 2023, which ended April 30, 2022, on Thursday, June 2, 2022.
- What HashiCorp Does: HashiCorp Inc is engaged in solving the infrastructure challenges of cloud adoption by enabling an operating model that unlocks the full potential of modern public and private clouds.
- The Trade: Fiserv, Inc. FISV Director ValueAct Holdings GP, LLC acquired a total of 500,000 shares at an average price of $94.22. To acquire these shares, it cost around $47.11 million.
- What’s Happening: Loop Capital recently initiated coverage on the stock with a Buy rating and $125 price target.
- What Fiserv Does: Fiserv is a leading provider of core processing and complementary services, such as electronic funds transfer, payment processing, and loan processing, for U.S. banks and credit unions, with a focus on small and midsize banks.
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