4 Stocks Insiders Are Buying

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.

Qualtrics International

• The Trade: Qualtrics International Inc. XM Director Egon Durban acquired a total of 840830 shares at an average price of $32.25. To acquire these shares, it cost 27,112,717.49.
• What’s Happening: Qualtrics International, last month, reported an offering of roughly 21.48 million common shares.
• What Qualtrics International Does: Qualtrics International Inc is a software technology company based in the United States. It develops software for organizations.

Opendoor Technologies

• The Trade: Opendoor Technologies Inc. OPEN Director Pueo Keffer acquired a total of 137533 shares at an average price of $14.51. To acquire these shares, it cost $1,995,342.52.
• What’s Happening: Opendoor Technologies, last month, reported better-than-expected Q3 results and issued Q4 sales guidance above estimates.
• What Opendoor Technologies Does: Opendoor Technologies Inc is a digital platform for residential real estate. This platform enables customers to buy and sell houses online.

Asana

• The Trade: Asana, Inc. ASAN President, CEO and Chair Dustin Moskovitz bought a total of 250000 shares at an average price of $100.00. To acquire these shares, it cost $25,000,000.00..
• What’s Happening: The company, last week, posted a narrower-than-expected quarterly loss.
• What Asana Does: Asana Inc is a software company. The company provides a platform for work management that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.

Best Buy

• The Trade: Best Buy Co., Inc. BBY Director Patrick Doyle bought a total of 20000 shares at an average price of $104.47. The insider spent $2,089,400.00 to buy those shares.
• What’s Happening: Best Buy recentlyreported third-quarter FY22 Enterprise sales growth of 0.5% year-on-year, to $11.91 billion, beating the analyst consensus of $11.56 billion.
• What Best Buy Does: With $47 billion in 2020 sales, Best Buy is the largest pure-play consumer electronics retailer in the U.S., with roughly 10% share of the aggregate market and nearly 40% share of offline sales, per our calculations, CTA industry, and Euromonitor data.