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.
What’s Happening: Facebook announced recently it would be getting a new name to better coincide with the company’s vision of betting big on the metaverse. On Thursday, the company shared its new name and announced plans to change its stock symbol.
What Meta Platforms Does: Meta Platforms Inc, formerly Facebook is the world's largest online social network, with 2.5 billion monthly active users. Users engage with each other by exchanging messages and sharing news events, photos, and videos.
The Trade: Warby Parker Inc. (NYSE: WRBY) 10% owner D Capital Partners Lp, Daniel Sundheim acquired a total of 884841 shares at an average price of $54.11. To acquire these shares, it cost $47,880,088.17.
What’s Happening: Citigroup recently initiated coverage on Warby Parker with a Buy rating and announced a price target of $67.
What Warby Parker Does: Warby Parker Inc is engaged in designing and development of designer prescription glasses and contacts to eye exams and vision tests.
What’s Happening: Intel recently reported worse-than-expected Q3 non-GAAP revenue and issued Q4 adjusted EPS guidance below estimates.
What Intel Does: Intel is the world's largest chipmaker. It designs and manufactures microprocessors for the global personal computer and data center markets.
What’s Happening: Calix recently reported better-than-expected Q3 results.
What Calix Does: Calix cloud and software platforms enable service providers of all types and sizes to innovate and transform. The company's customers utilize the real-time data and insights from Calix platforms to simplify their business and deliver experiences that excite their subscribers.
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