Although US stocks closed lower on Thursday, 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.
CNA Financial
- The Trade: CNA Financial Corporation (NYSE: CNA) 10% owner Loews Corp (NYSE:L) acquired a total of 152,367 shares an average price of $38.81. To acquire these shares, it cost around $5.91 million.
- What’s Happening: CNA Financial, last month, reported worse-than-expected Q2 EPS results..
- What CNA Financial Does: CNA Financial Corporation (CNAF) is an insurance holding company that provides commercial property and casualty insurance.
- The Trade: Coinbase Global , Inc. (NASDAQ: COIN) Director Tobias Lutke acquired a total of 4,482 shares at an average price of $75.39. To acquire these shares, it cost around $337.9 thousand.
- What’s Happening: Coinbase Global is rating political candidates on their outlook towards cryptocurrencies in a new feature on its mobile app.
- What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.
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Sarepta Therapeutics
- The Trade: Sarepta Therapeutics, Inc. (NASDAQ: SRPT) Director Michael Andrew Chambers bought a total of 57,100 shares at an average price of $104.43. To acquire these shares, it cost around $5.96 million.
- What’s Happening: Sarepta Therapeutics recently priced its $1.0 billion of convertible senior notes due 2027.
- What Sarepta Therapeutics Does: Sarepta Therapeutics 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.