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.
Asana
The Trade: Asana, Inc. (NYSE: ASAN) President, CEO and Chair Dustin Moskovitz acquired a total of 500000 shares at an average price of $99.96. The insider spent $49,981,962.72 to acquire those shares.
What’s Happening: Asana, last month, reported better-than-expected Q2 EPS and sales results.
What Asana Does: Asana Inc is a software company. The company provides a platform for work management that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.
Oracle
The Trade: Oracle Corporation (NYSE: ORCL) Director Rona Alison Fairhead acquired a total of 1286 shares at an average price of $85.12. To acquire these shares, it cost $109,464.32.
What’s Happening: The U.S. Supreme Court rejected Oracle’s appeal challenging the now-scrapped $10 billion cloud-computing contract the Pentagon awarded to Microsoft Corp in 2019, Bloomberg reported.
What Oracle Does: Oracle provides database technology and enterprise resource planning, or ERP, software to enterprises around the world.
Barnes & Noble Education
The Trade: Barnes & Noble Education, Inc. (NYSE: BNED) Director Zachary Levenick bought a total of 30000 shares at an average price of $10.11. To acquire these shares, it cost $303,189.00.
What’s Happening: Barnes & Noble Education, last month, reported better-than-expected Q1 results.
What Barnes & Noble Education Does: Barnes & Noble Education Inc is an operator of bookstores in college and university campuses across the United States and it also engaged in providing digital education services.
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