Alphabet Inc. (NASDAQ:GOOGL) reported better-than-expected results for its fourth quarter, which sent the Nasdaq futures sharply higher this morning. Investors, meanwhile, focused on some 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.
Microsoft
- The Trade: Microsoft Corporation (NASDAQ:MSFT) Director Emma N Walmsley acquired a total of 3,489 shares at an average price of $303.26. To acquire these shares, it cost around around $1 million. The insider also disposed a total of 56.701 shares.
- What’s Happening: Microsoft recently reported better-than-expected Q2 results.
- What Microsoft Does: Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite.
Monro
- The Trade: Monro, Inc. (NASDAQ:MNRO) CEO and President Michael T Broderick acquired a total of 2,500 shares at an average price of $48.85. To acquire these shares, it cost $122.14 thousand.
- What’s Happening: Monro recently reported third-quarter FY22 sales growth of 20.1% year-on-year, to $341.78 million, beating the analyst consensus of $339.63 million.
- What Monro Does: Monro Inc is a provider automobile service stations in the United States. Through its network of company-owned service stations, Monro Muffler Brake offers maintenance, repair, tire, and fleet management services for automobiles focused largely on undercar services such as brake, steering, exhaust, drivetrain, and suspension systems.
Also check this: Executives sell over $10 million of 5 stocks
NextEra Energy
- The Trade: NextEra Energy, Inc. (NYSE:NEE) Chairman, President and CEO James Robo bought a total of 64,691 shares at an average price of $77.26. To acquire these shares, it cost around $5 million.
- What’s Happening: NextEra Energy recently reported worse-than-expected Q4 sales results.
- What NextEra Energy Does: NextEra Energy's regulated utility, Florida Power & Light, distributes power to roughly 5 million customers in Florida. FP&L contributes roughly 60% of the group's operating earnings.
