Benzinga - Although US 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.
Appian
- The Trade: Appian Corporation (NASDAQ: APPN) 10% owner Colin Moran acquired a total of 265,000 shares an average price of $32.96. To acquire these shares, it cost around $8.74 million.
- What’s Happening: Barclays recently maintained Appian with an Underweight and lowered the price target from $30 to $25.
- What Appian Does: Appian Corp provides a low-code software development platform as a service that enables organizations to rapidly develop powerful and unique applications.
Fate Therapeutics
- The Trade: Fate Therapeutics, Inc. (NASDAQ: FATE) Director John Mendlein acquired a total of 124,679 shares at an average price of $5.60. To acquire these shares, it cost around $698.14 thousand.
- What’s Happening: Fate Therapeutics recently decided to terminate the collaboration and option agreement with Janssen Biotech Inc, a Johnson & Johnson unit, on revised terms and conditions.
- What Fate Therapeutics Does: Fate Therapeutics Inc is a clinical-stage biopharmaceutical company based in the United States.
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DiamondHead Holdings
- The Trade: DiamondHead Holdings Corp. (NASDAQ: DHHC) Co-CEO, Chairman David T Hamamoto bought a total of 1,000,000 shares at an average price of $10.09. To acquire these shares, it cost around $10.09 million.
- What’s Happening: The company’s stock gained more than 2% over the past six months.
- What DiamondHead Holdings Does: DiamondHead Holdings Corp is a blank check company.
Dave & Buster's Entertainment
- The Trade: Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY) SVP, Chief Int'l Dev Ofc Antonio Pineiro bought a total 3,000 shares at an average price of $42.54. The insider spent around $127.63 thousand to buy those shares.
- What’s Happening: The company, last month, posted upbeat quarterly sales.
- What Dave & Buster's Entertainment Does: Dave & Buster's Entertainment Inc owns and operates nearly a hundred entertainment and dining establishments in the United States where customers can eat, drink, play games, and watch televised sports.
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