Although US stock futures traded higher this morning 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.
Freshworks
- The Trade: Freshworks Inc. (NASDAQ: FRSH) 10% owner Sc India Principals Growth Fund III Ltd acquired a total of 5,482,075 shares at an average price of $17.29. To acquire these shares, it cost around $94.77 billion.
- What’s Happening: Freshworks, last month, posted a Q4 loss of $0.06 per share.
- What Freshworks Does: Freshworks Inc provides software as a service platform that enables small and medium-sized businesses to support customers through e-mail, phone, website, and social networks.
- The Trade: Janus Henderson Group plc (NYSE: JHG) 10% owner Trian Fund Management, L.P. acquired a total of 1,412,638 shares at an average price of $33.05. To acquire these shares, it cost around $46.69 million.
- What’s Happening: The company, last month, posted upbeat quarterly earnings.
- What Janus Henderson Group Does: Janus Henderson Group provides investment management services to retail intermediary (49% of managed assets), self-directed (21%) and institutional (30%) clients under the Janus Henderson and Intech banners.
Duolingo
- The Trade: Duolingo, Inc. (NASDAQ: DOL) 10% owner Durable Capital Partners Lp bought a total of 17,379 shares at an average price of $79.84. To acquire these shares, it cost around $1.39 million.
- What’s Happening: Duolingo recently reported better-than-expected Q4 EPS and sales results.
- What Duolingo Does: Duolingo Inc is a mobile learning platform to learn languages and the top-grossing app in the Education category on both Google Play and the Apple (NASDAQ:AAPL) App Store.
Read at Benzinga