Although the Dow Jones dropped by over 200 points on Thursday, 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.
Coinbase Global
- The Trade: Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Ernest Ehrsam III acquired a total of 385,260 shares at at an average price of $64.93. To acquire these shares, it cost around $25.01 million.
- What’s Happening: Coinbase Global recently reported worse-than-expected Q1 sales results.
- What Coinbase Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.
Appian
- The Trade: Appian Corporation (NASDAQ:APPN) 10% owner Colin Moran acquired a total of 289,966 shares at an average price of $49.47. To acquire these shares, it cost around $14.35 million.
- What’s Happening: Appian recently announced it has received a verdict from a jury in the Circuit Court for Fairfax County, Virginia, awarding it $2.036 billion in damages from Pegasystems for trade secret misappropriation.
- 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.
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Ashland Global
- The Trade: Ashland Global Holdings Inc. (NYSE:ASH) Director Eminence Capital Lp bought a total of 48,800 shares at an average price of $101.27. To acquire these shares, it cost around $4.94 million.
- What’s Happening: The company, last month, posted upbeat quarterly earnings.
- What Ashland Global Does: Ashland Global Holdings is a global specialty materials company that serves a wide range of industrial markets.
