Although Dow Jones dropped around 800 points on Tuesday, 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.
Carvana
- The Trade: Carvana Co. (NYSE:CVNA) 10% owner Verde Investments Inc acquired a total of 5,100,000 shares at at an average price of $80.00. To acquire these shares, it cost around $408 million.
- What’s Happening: Carvana recently reported Q1 results and announced a $1 billion common stock offering.
- What Carvana Does: Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues.
HashiCorp
- The Trade: HashiCorp, Inc. (NASDAQ:HCP) 10% owner GGV Capital Select L.P. acquired a total of 62,567 shares at an average price of $48.11. To acquire these shares, it cost around $3.01 million.
- What’s Happening: Piper Sandler recently initiated coverage on HashiCorp with a Neutral rating and announced a price target of $59.
- What HashiCorp Does: HashiCorp Inc is engaged in solving the infrastructure challenges of cloud adoption by enabling an operating model that unlocks the full potential of modern public and private clouds.
Don’t forget to check out our premarket coverage here .
Also check this: 4 Stocks Under $2 Insiders Are Aggressively Buying
Sensient Technologies
- The Trade: Sensient Technologies Corporation (NYSE:SXT) 10% owner Freemont Capital Pte Ltd bought a total of 23,185 shares at an average price of $83.32. To acquire these shares, it cost around $1.93 million.
- What’s Happening: Sensient Technologies will host a conference call at 09:30 AM ET on April 29, 2022, to discuss Q1 2022 earnings results.
- What Sensient Technologies Does: Sensient Technologies manufactures and markets natural and synthetic colors, flavors, and flavor extracts.
