Starbucks And 3 Other Stock Insiders Are Buying

Although US stocks closed lower on Friday, 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.

Freshworks

  • The Trade: Freshworks Inc. FRSH Director Sameer Gandhi acquired a total of 253,482 shares an average price of $14.85. To acquire these shares, it cost around $3.77 million.
  • What’s Happening: Freshworks, last month, reported better-than-expected Q2 sales results.
  • What Freshworks Does: Freshworks Inc provides software as a service platform that enables small and medium-sized businesses to support customers through e-mail, phone, website, and social networks.

XOMA

  • The Trade: XOMA Corporation XOMA Director Mark Lampert acquired a total of 56,309 shares at an average price of $17.59. To acquire these shares, it cost around $990.72 thousand.
  • What’s Happening: The company’s shares tumbled 39% over the past six months.
  • What XOMA Does: XOMA Corp is a biotechnology royalty aggregator playing a unique role in helping biotech companies achieve their goal of improving human health.

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Also check this: US Stocks Fall to Two-Month Low Amid Higher Volatility

Starbucks

  • The Trade: Starbucks Corporation SBUX Director Mellody L Hobson bought a total of 54,750 shares at an average price of $92.58. To acquire these shares, it cost around $5.07 million.
  • What’s Happening: Piper Sandler, on Friday, maintained Starbucks with a Neutral and raised the price target from $84 to $92.
  • What Starbucks Does: Starbucks is one of the most widely recognized restaurant brands in the world, operating nearly 34,000 stores across more than 80 countries as of the end of fiscal 2021.

Medpace Holdings

  • The Trade: Medpace Holdings, Inc. MEDP CEO August J Troendle bought a total 125,032 shares at an average price of $152.89. The insider spent around $19.12 million to buy those shares.
  • What’s Happening: UBS recently initiated coverage on Medpace Hldgs with a Sell rating and announced a price target of $142.
  • What Medpace Does: Medpace Holdings Inc is a clinical contract research organization.

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