Although the Nasdaq Composite dipped over 3% 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.
Donnelley Financial Solutions
- The Trade: Donnelley Financial Solutions, Inc. (NYSE: DFIN) Director Jeffrey Jacobowitz acquired a total of 494,725 shares at at an average price of $26.60. To acquire these shares, it cost around $13.16 million.
- What’s Happening: Donnelley Financial recently posted Q1 adjusted EPS of $0.82.
- What Donnelley Financial Solutions Does: Donnelley Financial Solutions Inc is a global risk and compliance solutions company. The company provides regulatory filing and deal solutions via its software-as-a-service, technology-enabled services, and print and distribution solutions to public and private companies, mutual funds, and other regulated investment firms.
- The Trade: Groupon, Inc. (NASDAQ: GRPN) 10% owner Pale Fire Capital SE acquired a total of 1,651,277 shares at an average price of $14.31. To acquire these shares, it cost around $23.63 million.
- What’s Happening: The company recently posted a wider-than-expected quarterly loss.
- What Groupon Does: Groupon acts as the middleman between consumers and merchants, offering a variety of products and services at discounts via its online store.
Also check this: Executives Sell More Than $220M Of 3 Stocks
Duolingo
- The Trade: Duolingo, Inc. (NASDAQ: DUOL) 10% owner Durable Capital Partners LP bought a total of 136,968 shares at an average price of $75.29. To acquire these shares, it cost around $10.31 million.
- What’s Happening: Duolingo is expected to release its results for the first quarter, following the close of the U.S. market on Thursday, May 12, 2022.
- 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 (NASDAQ:GOOGL) Play and the Apple (NASDAQ:AAPL) App Store.
Read at Benzinga