$915M Bet On This EV Maker Stock? Check Out These 4 Stocks Insiders Are Buying

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.

Lucid Group

  • The Trade: Lucid Group, Inc. LCID 10% owner Ayar Third Investment Co acquired a total of 85,712,679 shares an average price of $10.68. To acquire these shares, it cost around $915 million.
  • What’s Happening: Lucid Group recently announced a successful capital raise of approximately $1.515 billion.
  • What Lucid Group Does: Lucid Group Inc is a technology and automotive company.

Dave & Buster's Entertainment

  • The Trade: Dave & Buster's Entertainment, Inc. PLAY 10% owner Scott Ross acquired a total of 410,202 shares at an average price of $34.74. To acquire these shares, it cost around $14.25 million.
  • What’s Happening: The company recently reported better-than-expected 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.

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  • The Trade: Zscaler, Inc. ZS Director Fraser William Andrew Brown bought a total of 5,000 shares at an average price of $108.78. To acquire these shares, it cost around $543.9 thousand.
  • What’s Happening: Alithya recently partnered with Zscaler to bolster its network protection offering.
  • What Zscaler Does: Zscaler is a security-as-a-service firm that offers its customers cloud-delivered solutions for protecting user devices and data.

Enterprise Products Partners

  • The Trade: Enterprise Products Partners L.P. EPD Director Carin M. Barth bought a total 5,000 shares at an average price of $23.99. The insider spent around $119.95 thousand to buy those shares.
  • What’s Happening: Citigroup recently initiated coverage on Enterprise Prods Partners with a Buy rating and announced a price target of $31.
  • What Enterprise Products Partners Does: Enterprise Products Partners is a master limited partnership that transports and processes natural gas, natural gas liquids, crude oil, refined products and petrochemicals.
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