Last Week's Notable Insider Buys: Beacon Roofing Supply, Enfusion, Nerdy And More

• Insider buying can be an encouraging signal for potential investors, especially when markets are uncertain or near highs.


• Beneficial owners made some the most notable insider purchases last week.


• Some insiders took advantage of public offerings of shares as well.

Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason: they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when there is uncertainty in the markets or the markets are near all-time highs.

Note that with the earnings-reporting season still underway, the windows for many insiders to buy or sell shares are closed. Here are a few of the most noteworthy insider purchases that were reported in the past week.

A 10% owner of Crinetics Pharmaceuticals Inc CRNX acquired 1.2 million shares in a public offering of this San Diego-based company. At $19.80 per share, which cost that owner $23.76 million and raised its stake to more than 5.16 million shares. An executive sold 3,000 shares last week as well. The stock ended the week at $24.93, up about 26% from the owner's purchase price.

Enfusion Inc ENFN saw a director indirectly pick up some shares in last week's initial public offering. The more than 1.26 million shares purchased added up to over $21.44 million, at a per-share price of $17.00. This software as a service provider has traded between $19.05 and $22.19 per share so far. The stock was last seen at $20.63, which is 21% or so above the director's purchase price.

Late last week, a 10% owner of Beacon Roofing Supply, Inc. BECN indirectly added almost 117,000 shares of this building products maker. At about $51.31 apiece, the cost for those shares totaled approximately $6 million. The stock rose about 3% last week and ended Friday trading at $52.87 a share. That was about 3% higher than the owner's purchase price.

The purchase of about 563,000 Nerdy Inc NRDY shares by a beneficial owner at prices ranging from $7.65 to $8.05 apiece totaled around $4.52 million. That lifted the owner's stake in the online learning platform provider to 9.10 million shares, while over 56 million shares are outstanding. The timing seems fortunate, as the $8.56 share price on Friday's close was above the purchase price range.

See also: 5 Stocks Insiders Are Selling

Some other sizable insider purchases reported last week:

• Riley Exploration Permian Inc REPX beneficial owner buys over 107,000 shares for almost $2.8 million.


• Intel Corporation INTC six directors buy more than 55,100 shares for over $2.7 million.


• Archer Aviation Inc ACHR beneficial owner buys almost 444,300 shares for over $2.5 million.


• Texas Capital Bancshares Inc TCBI two directors and an officer buy 30,000 shares for more than $1.7 million.


• Associated Banc Corp ASB director buys 50,000 shares for over $1.1 million.

At the time of this writing, the author had no position in the mentioned equities.

Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.