Although US stocks closed sharply lower on Friday, 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.
Beacon Roofing Supply
- The Trade: Beacon Roofing Supply, Inc. (NASDAQ:BECN) 10% owner CD&R Boulder Holdings Lp acquired a total of 102,219 shares at at an average price of $58.70. To acquire these shares, it cost around $6 million.
- What’s Happening: Beacon reported the acquisition of Wichita Falls Builders Wholesale.
- What Beacon Roofing Supply Does: Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada.
Affirm Holdings
- The Trade: Affirm Holdings, Inc. (NASDAQ:AFRM) 10% owner Jasmine Ventures Pte Ltd acquired a total of 209,902 shares at an average price of $29.67. To acquire these shares, it cost around $6.23 million.
- What’s Happening: The company’s stock has dropped around 70% since the start of the year.
- What Affirm Holdings Does: Affirm Holdings Inc offers a platform for digital and mobile-first commerce. It comprises a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app.
Don’t forget to check out our premarket coverage here .
Also check this: 4 Stocks Under $2 Insiders Are Aggressively Buying
Nkarta
- The Trade: Nkarta, Inc. (NASDAQ:NKTX) Director Simeon George bought a total of 1,333,333 shares at an average price of $15.00. To acquire these shares, it cost around $20 million.
- What’s Happening: Nkarta recently reported a proposed $150m public offering of common stock.
- What Nkarta Does: Nkarta Inc is a biopharmaceutical company developing engineered natural killer (NK) cells to fight cancer.
