Although US stocks closed sharply higher 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.
- The Trade: Fulcrum Therapeutics, Inc. FULC 10% owner Rajeev Shah acquired a total of 180,703 shares an average price of $7.28. To acquire these shares, it cost around $1.31 million.
- What’s Happening: Fulcrum Therapeutics named Robert J. Gould as interim CEO.
- What Fulcrum Therapeutics Does: Fulcrum Therapeutics Inc is a clinical-stage biopharmaceutical company.
- The Trade: CrowdStrike Holdings, Inc. CRWD Director Roxanne Austin acquired a total of 35,000 shares at an average price of $96.19. To acquire these shares, it cost around $3.37 million.
- What’s Happening: Jefferies downgraded the stock from Buy to Hold and lowered its price target from $175 to $120.
- What CrowdStrike Holdings Does: CrowdStrike Holdings provides cybersecurity products and services aimed at protecting organizations from cyberthreats.
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- The Trade: Coinbase Global, Inc. COIN Director Tobias Lutke bought a total of 11,012 shares at an average price of $34.62. To acquire these shares, it cost around $381.24 thousand.
- What’s Happening: Cowen & Co downgraded the stock from Outperform to Market Perform and announced a $36 price target.
- What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.