Benzinga - by Lisa Levin, Benzinga Editor. Although U.S. stocks closed mixed 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.
Impinj
- The Trade: Impinj, Inc. (NASDAQ: PI) Director Patrick Daniel Gibson acquired a total of 190,569 shares an average price of $60.02. To acquire these shares, it cost around $11.44 million.
- What’s Happening: Impinj posted upbeat second-quarter results.
- What Impinj Does: Impinj Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's identity, location, and authenticity to business and consumer applications.
- The Trade: The Howard Hughes Corporation (NYSE: HHC) Director William Ackman acquired a total of 16,363 shares at an average price of $74.81. To acquire these shares, it cost around $1.22 million.
- What’s Happening: Howard Hughes reported a wider-than-expected second-quarter loss.
- What Howard Hughes Does: The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use properties in the United States.
Crocs
- The Trade: Crocs, Inc. (NASDAQ: CROX) Director Douglas Treff bought a total of 2,114 shares at an average price of $94.62. To acquire these shares, it cost around $200,016.
- What’s Happening: Crocs reported second-quarter FY23 sales growth of 11.2% year-on-year to $1.07 billion, beating the analyst consensus of $1.04 billion.
- What Crocs Does: Crocs Inc is engaged in the design, development, marketing, distribution, and sale of casual lifestyle footwear accessories for men, women, and children.
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