Although Dow Jones closed higher by around 500 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.
Zedge
- The Trade: Zedge, Inc. (NYSE:ZDGE) Director Mark Ghermezian acquired a total of 4,355 shares at an average price of $5.81. To acquire these shares, it cost around $25.3 thousand.
- What’s Happening: Zedge recently announced the acquisition of GuruShots.
- What Zedge Does: Zedge Inc provides content distribution platforms. Its content platform enables consumers to personalize their mobile devices with free, high-quality ringtones, wallpapers, home screen app icons, widgets and notification sounds.
Solo Brands
- The Trade: Solo Brands, Inc. (NYSE:DTC) Chief Financial Officer Samuel Simmons acquired a total of 13,450 shares at an average price of $17.00. To acquire these shares, it cost around $228.65 thousand.
- What’s Happening: The company, last month, posted upbeat quarterly earnings.
- What Solo Brands Does: Solo Brands Inc is a Direct-To-Consumer (DTC) platform. It operates four premium outdoor lifestyle brands Solo Stove, Oru, ISLE, and Chubbies apparel.
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Also check this: Executives Sell Over $740M Of 4 Stocks
TELA Bio
- The Trade: TELA Bio, Inc. (NASDAQ:TELA) 10% owner Ew Healthcare Partners Fund Ugp Llc bought a total of 8,789 shares at an average price of $9.83. To acquire these shares, it cost around $86.38 thousand.
- What’s Happening: TELA Bio, last month, posted a Q4 loss of $0.59 per share.
- What TELA Bio Does: TELA Bio Inc is a United States-based medical technology company.
