Insiders Buying C.H. Robinson Worldwide And 3 Other Stocks

Although U.S. stocks closed mixed 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.

Impinj

• The Trade: Impinj, Inc. PI Director Patrick Daniel Gibson acquired a total of 48,311 shares an average price of $79.44. To acquire these shares, it cost around $3.84 million.
• What’s Happening: Impinj reported better-than-expected third-quarter revenue results.
• What Impinj Does: Impinj Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's identity, location, and authenticity to business and consumer applications.

CARGO Therapeutics

• The Trade: CARGO Therapeutics, Inc. CRGX 10% owner Srinivas Akkaraju acquired a total of 4,047,989 shares at an average price of $15.00. To acquire these shares, it cost around $10 million.
• What’s Happening: The company offered shares at an expected price between $15.00 and $17.00 per share with an insider lock-up period of 180 days ending on May 08, 2024.
• What CARGO Therapeutics Does: Cargo Therapeutics Inc is a clinical-stage biotechnology company positioned to advance next generation, potentially curative cell therapies for cancer patients.

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C.H. Robinson Worldwide

• The Trade: C.H. Robinson Worldwide, Inc. CHRW President and CEO David P Bozeman bought a total of 1,807 shares at an average price of $82.91. To acquire these shares, it cost around $149,818.
• What’s Happening: C.H. Robinson reported better-than-expected third-quarter earnings results.
• What C.H. Robinson Worldwide Does: C.H. Robinson is a top-tier non-asset-based third-party logistics provider with a significant focus on domestic freight brokerage (about 60% of 2022 net revenue), which reflects mostly truck brokerage but also rail intermodal.

Darling Ingredients

• The Trade: Darling Ingredients Inc. DAR COO North America Matthew Jansen bought a total of 11,113 shares at an average price of $44.80. The insider spent around $497,862 to buy those shares.
• What’s Happening: Darling Ingredients posted downbeat sales for the third quarter.
• What Darling Ingredients Does: Darling Ingredients Inc develops and manufactures sustainable ingredients for customers in the pharmaceutical, food, pet food, fuel, and fertilizer industries.

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