Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Although U.S. stocks closed higher 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.
Nextracker
- The Trade: Nextracker Inc. (NASDAQ: NXT) CEO Daniel Shugar acquired a total of 37,821 shares an average price of $39.63. To acquire these shares, it cost around $1.5 million.
- What’s Happening: On Oct. 25, NEXTracker posted upbeat quarterly results.
- What Nextracker Does: NEXTracker Inc provides integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed solar generation projects worldwide. Nextracker's products enable solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance.
- The Trade: Olema Pharmaceuticals, Inc. (NASDAQ: OLMA) 10% owner Senai Asefaw acquired a total of 100,000 shares at an average price of $11.60. To acquire these shares, it cost around $1.16 million
- What’s Happening: Olema Pharmaceuticals recently announced interim results from an ongoing Phase 1b/2 clinical study of palazestrant in combination with CDK4/6 inhibitor ribociclib..
- What Olema Pharmaceuticals Does: Olema Pharmaceuticals inc is a clinical-stage biopharmaceutical company.
Walt Disney
- The Trade: The Walt Disney Company (NYSE: DIS) Director Amy Chang bought a total of 1,078 shares at an average price of $92.69. To acquire these shares, it cost around $99,918.
- What’s Happening: The Walt Disney recently begun the beta launch of its integrated Hulu and Disney+ streaming experience, marking a significant move in the streaming industry.
- What Walt Disney Does: Disney operates in three global business segments: entertainment, sports, and experiences.
- The Trade: Heartland Express, Inc. (NASDAQ: HTLD) 10% owner Julie Durr bought a total of 182,268 shares at an average price of $13.72. The insider spent around $2.5 million to buy those shares.
- What’s Happening: On Oct. 26, Heartland Express posted weak quarterly results.
- What Heartland Express Does: Heartland Express Inc is engaged in providing truckload services across the United States and Canada.
Check This Out: This Tech Stock Is 'Too Expensive,' Cramer Says: 'Wait For A Pullback'
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.