Over $21 Million Bet On Autoliv? 3 Stocks Insiders Are Buying

Although US stocks traded sharply lower 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.

Intel

• The Trade: Intel Corporation INTC CEO Patrick Gelsinger acquired a total of 14,800 shares at an average price of $33.86. To acquire these shares, it cost around $501.15 thousand.
• What’s Happening: Intel and Brookfield Asset Management agreed to jointly fund up to $30 billion for the U.S. chipmaker's leading-edge chip factories in Arizona.
• What Intel Does: Intel is the world's largest logic chipmaker. It designs and manufactures microprocessors for the global personal computer and data center markets.

Coinbase Global

• The Trade: Coinbase Global, Inc. COIN Director Tobias Lutke acquired a total 5,177 shares at an average price of $71.94. To acquire these shares, it cost around $372.43 thousand.
• What’s Happening: Coinbase Global launched a voter registration tool as part of a new initiative aimed at getting people to participate in cryptocurrency policy discussions across the country.
• What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.

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Autoliv

• The Trade: Autoliv, Inc. ALV 10% owner Cevian Capital II GP Ltd bought a total of 266,263 shares at an average price of $79.52. To acquire these shares, it cost around $21.17 million.
• What’s Happening: Autoliv, last month, reported second-quarter FY22 sales growth of 2.9% year-on-year, to $2.08 billion, beating the consensus of $2.05 billion.
• What Autoliv Does: Autoliv is the global leader in passive safety components and systems for the auto industry. Products include seat belts, frontal air bags, side-impact air bags, air bag inflators, and steering wheels.