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$35 Million Bet On This Technology Stock? Check Out These 3 Stocks Insiders Are Buying



Although US stocks closed slightly lower 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. COIN Director Tobias Lutke acquired a total of 6,952 shares an average price of $55.00,. To acquire these shares, it cost around $382.36 thousand.
  • What’s Happening: DA Davidson maintained Coinbase Global with a Buy and lowered the price target from $100 to $70.
  • What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.

Corsair Gaming

  • The Trade: Corsair Gaming, Inc. CRSR 10% owner EagleTree Partners IV Ultimate GP, LLC acquired a total of 2,121,212 shares at at an average price of $16.50. To acquire these shares, it cost around $35 million.
  • What’s Happening: Corsair Gaming priced 4.55 million shares at $16.50 per share in an underwritten public offering.
  • What Corsair Gaming Does: Corsair Gaming is engaged in the business of providing high-performance gear for gamers and content creators.

Don’t forget to check out our premarket coverage here .

Also check this: This Analyst Sees 44% Upside In Cisco’s Stock, Here’s A Look At Recent Price Target Cuts By The Most Accurate Analysts

ESAB

  • The Trade: ESAB Corporation ESAB Director Mitchell P Rales bought a total of 500,000 shares at an average price of $40.00. To acquire these shares, it cost around $20 million.
  • What’s Happening: ESAB recently priced secondary offering of 6,003,431 shares currently held by Enovis Corporation at $40/share.
  • What ESAB Does: ESAB, spun off from Colfax in 2022, is a leading manufacturer of equipment and consumables used in welding, cutting, and joining applications.

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