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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 39,500 shares at an average price of $48.56. To acquire these shares, it cost around $1.92 million.
- What’s Happening: Morgan Stanley, on Tuesday, maintained Appian with an Equal-Weight and lowered the price target from $87 to $55.
- What Appian Does: Appian Corp provides a leading low-code software development platform as a service that enables organizations to rapidly develop powerful and unique applications.
Duolingo
- The Trade: Duolingo, Inc. (NASDAQ:DUOL) 10% owner Durable Capital Partners Lp acquired a total of 127,853 shares at an average price of $88.30. To acquire these shares, it cost $11.29 million.
- What’s Happening: Piper Sandler recently maintained Duolingo with an Overweight and lowered the price target from $182 to $137.
- 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 Play and the Apple App Store.
Check out these penny stocks insiders are buying
Alta Equipment Group
- The Trade: Alta Equipment Group Inc. (NYSE:ALTG) 10% owner Bryant Riley bought a total of 7,953 shares at an average price of $13.50. To acquire these shares, it cost $107.37 thousand.
- What’s Happening: Alta Equipment Group, last month, agreed to acquire the stock of Ginop Sales, Inc.
- What Alta Equipment Does: Alta Equipment Group Inc is an integrated equipment dealership platform in the U.S. The company sell, rent, and provide parts and service support for several categories of specialized equipment, including lift trucks and aerial work platforms, cranes, earthmoving equipment and other material handling and construction equipment. Its segments are Material Handling and Construction Equipment.
