Insiders Buy More Than $57M Of 2 Stocks

Although the Dow Jones jumped more than 300 points on Wednesday, 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.

NortonLifeLock

• The Trade: NortonLifeLock Inc. NLOK Director Peter A Feld acquired a total of 2,500,000 shares at at an average price of $22.22. To acquire these shares, it cost around $55.56 million.
• What’s Happening: The company, last month, posted upbeat quarterly results.
• What NortonLifeLock Does: NortonLifeLock is a cybersecurity pure-play that offers security, identity protection, and privacy solutions to individual consumers.

United Airlines

• The Trade: United Airlines Holdings, Inc. UAL Director Edward Shapiro acquired a total of 50,000 shares at an average price of $37.69. To acquire these shares, it cost around $1.88 million.
• What’s Happening: United disclosed an agreement with CO2 Utilization Company Dimensional Energy.
• What United Airlines Does: United Airlines is a major U.S. network carrier. United's hubs include San Francisco, Chicago, Houston, Denver, Los Angeles, New York/Newark, and Washington, D.C.

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