$7.8 Million Bet On Appian? 4 Stocks Insiders Are Buying

Although US stocks closed 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.

AptarGroup

• The Trade: AptarGroup, Inc. ATR Director Matthew L Trerotola acquired a total of 3,170 shares an average price of $94.48. To acquire these shares, it cost around $299.5 thousand.
• What’s Happening: The company recently posted downbeat quarterly results.
• What AptarGroup Does: Headquartered in Crystal Lake, Illinois, AptarGroup is a leading global supplier of dispensing systems such as aerosol valves, pumps, and closures to the consumer goods and pharmaceutical markets.

Cricut

• The Trade: Cricut, Inc. CRCT 10% owner Colin Moran acquired a total of 49,209 shares at an average price of $8.98. To acquire these shares, it cost around $442.02 thousand.
• What’s Happening: Morgan Stanley, last month, maintained Cricut with an Underweight and lowered the price target from $5.7 to $5.
• What Cricut Does: Cricut Inc designs and builds a creativity platform that enables users to turn ideas into professional-looking handmade goods.

Also check this: Why Yelp Shares Are Trading Lower By 15%? Here Are 86 Stocks Moving In Friday's Mid-Day Session

Appian

• The Trade: Appian Corporation APPN 10% owner Colin Moran bought a total of 159,400 shares at an average price of $48.97. To acquire these shares, it cost around $7.81 million.
• What’s Happening: Appian reported worse-than-expected Q3 EPS results and issued Q4 and FY22 adjusted EPS and sales guidance below analyst estimates.
• What Appian Does: Appian Corp provides a low-code software development platform as a service that enables organizations to rapidly develop powerful and unique applications.

Nuvalent

• The Trade: Nuvalent, Inc. NUVL Director Andrew A. F. Hack bought a total 149,253 shares at an average price of $33.50. The insider spent around $5 million to buy those shares.
• What’s Happening: Nuvalent recently announced pricing of $230 million public offering of 6,865,672 shares of Class A common stock at a price of $33.50 per share.
• What Nuvalent Does: Nuvalent Inc is a biopharmaceutical company focused on creating precisely targeted therapies for patients with cancer, designed to overcome the limitations of existing therapies for clinically proven kinase targets.