Although U.S. stocks dropped on Tuesday, 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.
Invesco
- The Trade: Invesco Ltd. (NYSE: IVZ) 10% owner Trian Fund Management Lp acquired a total of 3,724,600 shares at an average price of $23.12. To acquire these shares, it cost around $86.12 million.
- What’s Happening: Goldman Sachs (NYSE:GS) recently maintained Invesco with a Neutral and raised the price target from $23 to $24.5..
- What Invesco Does: Invesco provides investment-management services to retail (69% of managed assets) and institutional (31%) clients.
- The Trade: Sensient Technologies Corporation (NYSE: SXT) 10% owner Freemont Capital Pte Ltd acquired a total of 23,859 shares at an average price of $84.23. To acquire these shares, it cost around $2.01 million.
- What’s Happening: Sensient Technologies, in February, reported consolidated revenue of $340.4 million for the fourth quarter.
- What Sensient Technologies Does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors, and flavor extracts.
Also check this: Expedia And 3 Other Stocks Insiders Are Selling
Vera Therapeutics
- The Trade: Vera Therapeutics, Inc. (NASDAQ: VERA) Director Patrick G Enright bought a total of 333,333 shares at an average price of $15.00. To acquire these shares, it cost around $5 million.
- What’s Happening: Vera Therapeutics, last month, posted a Q4 loss of $0.79 per share.
- What Vera Therapeutics Does: Vera Therapeutics Inc is a clinical stage biotechnology company. It is focused on developing and commercializing transformative treatments for patients with serious immunological diseases.
Read at Benzinga