Benzinga - by Lisa Levin, Benzinga Editor. Although U.S. stocks closed mixed 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.
Joint Corp
- The Trade: The Joint Corp. (NASDAQ: JYNT) 10% owner Jefferson Gramm acquired a total of 788,528 shares an average price of $10.38. To acquire these shares, it cost around $8.18 million.
- What’s Happening: Joint second-quarter system-wide sales rose 13%.
- What Joint Corp Does: The Joint Corp develops, owns, operates, supports, and manages chiropractic clinics through direct ownership, management arrangements, franchising, and the sale of regional developer rights throughout the United States.
- The Trade: Tidewater Inc. (NYSE: TDW) Director Robert Robotti acquired a total of 48,200 shares at an average price of $63.00. To acquire these shares, it cost around $3.04 million.
- What’s Happening: Tidewater reported worse-than-expected second-quarter financial results.
- What Tidewater Does: Tidewater Inc provides offshore service vessels and marine support services to the global offshore energy industry through the operation of a diversified fleet of marine service vessels.
Asana
- The Trade: Asana, Inc. (NYSE: ASAN) President, CEO and Chair Dustin Moskovitz bought a total of 160,000 shares at an average price of $21.74. To acquire these shares, it cost around $3.48 million.
- What’s Happening: Asana reported better-than-expected first-quarter financial results.
- 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.
Sarepta Therapeutics
- The Trade: Sarepta Therapeutics, Inc. (NASDAQ: SRPT) Director Michael Chambers bought a total 34,867 shares at an average price of $106.15. The insider spent around $3.7 million to buy those shares.
- What’s Happening: Sarepta Therapeutics reported narrower-than-expected second-quarter loss.
- What Sarepta Therapeutics Does: Sarepta Therapeutics Inc is a biotechnology company focused on treating rare, infectious, and other diseases. It targets a broad range of diseases while focusing on the rapid development of its drug candidates.