Although US stocks closed sharply higher 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.
Dave & Buster's Entertainment
- The Trade: Dave & Buster's Entertainment, Inc. PLAY 10% owner Scott Ross acquired a total of 535,000 shares an average price of $33.51. To acquire these shares, it cost around $17.93 million.
- What’s Happening: The company recently posted upbeat quarterly sales.
- What Dave & Buster's Entertainment Does: Dave & Buster's Entertainment Inc owns and operates nearly a hundred entertainment and dining establishments in the United States where customers can eat, drink, play games, and watch televised sports.
- The Trade: Astria Therapeutics, Inc. ATXS Director Joseph Edelman acquired a total of 908,265 shares at an average price of $11.01. To acquire these shares, it cost around $10 million.
- What’s Happening: Astria Therapeutics recently announced preliminary results from a Phase 1a clinical trial of STAR-0215.
- What Astria Therapeutics Does: Astria Therapeutics Inc is a biopharmaceutical company engaged to bring life-changing therapies to patients and families affected by rare and niche allergic and immunological diseases.
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- The Trade: Duolingo, Inc. DUOL 10% owner Durable Capital Partners LP bought a total of 121,207 shares at an average price of $72.43. To acquire these shares, it cost around $8.78 million.
- What’s Happening: Duolingo, last month, issued Q4 revenue guidance with a midpoint below estimates.
- 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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