Although US stocks closed higher on Monday, 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.
Braze
- The Trade: Braze, Inc. (NASDAQ: BRZE) Director Matthew Jacobson acquired a total of 488,640 shares an average price of $34.72. To acquire these shares, it cost around $16.97 million.
- What’s Happening: Braze, last month, reported Q2 earnings results and issued Q3 2023 adjusted EPS guidance below estimates.
- What Braze Does: Braze Inc is a customer engagement platform that powers customer-centric interactions between consumers and brands.
- The Trade: Tricida, Inc. (NASDAQ: TCDA) 10% owner Nimish Shah acquired a total of 436,923 shares at an average price of $10.75. To acquire these shares, it cost around $4.7 million.
- What’s Happening: Tricida announced the selection of the VALOR-CKD trial for an oral presentation in the high-impact clinical trials session at the ASN Kidney Week 2022.
- What Tricida Does: Tricida Inc is a pharmaceutical company focused on the development and commercialization of its drug candidate, veverimer (TRC101), a non-absorbed, orally-administered polymer designed to treat metabolic acidosis by binding and removing acid from the gastrointestinal, or GI, tract.
Also check this: Poshmark, Rivian Automotive And Some Other Big Stocks Moving Higher In Today's Pre-Market Session
Worthington Industries
- The Trade: Worthington Industries, Inc. (NYSE: WOR) Director David P Blom bought a total of 5,000 shares at an average price of $41.29. To acquire these shares, it cost around $206.43 thousand.
- What’s Happening: The company recently posted upbeat quarterly earnings.
- What Worthington Industries Does: Worthington Industries Inc is an American diversified metals manufacturing company, focused on value-added steel processing and manufactured metal products.