More Than $17M Bet On Asana? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed mixed 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.

Asana

• The Trade: Asana, Inc. ASAN President, CEO and Chair Dustin Moskovitz acquired a total of 1,015,000 shares an average price of $17.19. To acquire these shares, it cost around $17.44 million.
• What’s Happening: Asana posted a narrower-than-expected quarterly loss.
• What Asana Does: Asana Inc is a software company. The company provides a platform for work management that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.

Gatos Silver

• The Trade: Gatos Silver, Inc. GATO CEO Dale Andres acquired a total of 50,000 shares at an average price of $5.40. To acquire these shares, it cost around $270,000.
• What’s Happening: Gatos Silver posted a loss for the second quarter.
• What Gatos Silver Does: Gatos Silver Inc is a development and exploration company. It is focused on the production of Cerro Los Gatos Mine and the further exploration and development of the Los Gatos District, both located in Chihuahua, Mexico.

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Cannae Holdings

• The Trade: Cannae Holdings, Inc. CNNE CEO Richard Massey bought a total of 50,000 shares at an average price of $18.66. To acquire these shares, it cost around $933,200.
• What’s Happening: Cannae Holdings posted downbeat second-quarter results.
• What Cannae Holdings Does: Cannae Holdings Inc is a holding company that manages and operates a group of companies and investments.

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