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.
Asana
- The Trade:Asana, Inc.(NYSE:ASAN) President, CEO and Chair Dustin Moskovitz acquired a total of 1250000 shares at an average price of $65.02. To acquire these shares, it cost $81,280,385.01.
- What’s Happening:Morgan Stanley recently maintained Asana with an Equal-Weight and lowered the price target from $151 to $80.
- 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.
HealthEquity
- The Trade:HealthEquity, Inc.(NASDAQ:HQY) Director Adrian Dillonacquired a total of 12375 shares at an average price of $40.47. To acquire these shares, it cost $500,811.30.
- What’s Happening:HealthEquity recently reported worse-than-expected Q3 sales results and issued FY22 EPS and sales guidance below estimates.
- What HealthEquity Does:HealthEquity Inc provides solutions that allow consumers to make healthcare saving and spending decisions. Its technology allows customers to see their tax-advantaged healthcare savings, compare treatment options and pricing, pay healthcare bills, receive benefit information, and earn wellness incentives.
Six Flags Entertainment
- The Trade:Six Flags Entertainment Corporation(NYSE:SIX) 10% owner H Partners Management Llc bought a total of 225000 shares at an average price of $37.55. To acquire these shares, it cost $8,447,832.50.
- What’s Happening:Goldman Sachs upgraded Six Flags Entertainment from Neutral to Buy and raised the price target from $47 to $52.
- What Six Flags Entertainment Does:Six Flags Entertainment Corp owns and operates theme parks worldwide. It operates around 26 theme parks and waterparks, 23 are located in the United States, two are located in Mexico and one is located in Montreal, Canada.