Although US stocks closed sharply higher on Wednesday, 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.
JELD-WEN Holding
- The Trade: JELD-WEN Holding, Inc. (NYSE:JELD) 10% owner Turtle Creek Asset Management Inc acquired a total of 355,000 shares at an average price of $22.33. To acquire these shares, it cost around $7.93 million.
- What’s Happening: JELD-WEN’s current CFO, John Linker, decided to resign to pursue another CFO opportunity and transition his responsibilities by the end of March.
- What JELD-WEN Does: JELD-WEN Holding Inc is engaged in door and window manufacturing. The company design, produce and distribute interior and exterior doors, windows, and related products.
Revolution Medicines
- The Trade: Revolution Medicines, Inc. (NASDAQ:RVMD) Director Thilo Schroeder acquired a total of 246,438 shares at an average price of $18.91. To acquire these shares, it cost around $4.66 million.
- What’s Happening: Revolution Medicines recently posted a Q4 loss of $0.71 per share.
- What Revolution Medicines Does: Revolution Medicines Inc is a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit elusive, frontier targets within notorious growth and survival pathways, with particular emphasis on the RAS and mTOR signaling pathways.
Also check this: 3 Penny Stocks Insiders Are Buying
Qualtrics International
- The Trade: Qualtrics International Inc. (NASDAQ:XM) Director Egon Durban bought a total of 254,439 shares at an average price of $26.89. To acquire these shares, it cost around $6.84 million.
- What’s Happening: Infosys, last month, reported collaboration with Qualtrics to help enterprises deliver personalized experiences.
- What Qualtrics International Does: Qualtrics International Inc is a software technology company based in the United States. It develops software for organizations.
