3 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.

EverQuote

• The Trade: EverQuote, Inc. EVER Director David Blundin acquired a total of 43100 shares at an average price of $14.81. To acquire these shares, it cost $638,311.00.
• What’s Happening: JP Morgan recently downgraded the stock from Neutral to Underweight and lowered its price target from $17 to $13.
• What EverQuote Does: EverQuote, based in Cambridge, Massachusetts, operates an online marketplace for insurance shopping in the United States.

BridgeBio Pharma

• The Trade: BridgeBio Pharma, Inc. BBIO Director Ronald Daniels acquired a total of 22147 shares at an average price of $13.49. To acquire these shares, it cost $298,678.53. The insider also sold a total of 11745 shares.
• What’s Happening: The company's phase 3 trial to treat symptomatic transthyretin amyloid cardiomyopathy did not achieve its primary endpoint.
• What BridgeBio Pharma Does: BridgeBio Pharma Inc is involved in identifying advance transformative medicines to treat patients who suffer from Mendelian diseases, which are diseases that arise from defects in a single gene, and cancers with clear genetic drivers.

Safehold

• The Trade: Safehold Inc. SAFE 10% owner Istar Inc bought a total of 6358 shares at an average price of $78.63. To acquire these shares, it cost $499,929.54.
• What’s Happening: Safehold recently appointed Jesse Hom to join Board of Directors.
• What Safehold Does: Safehold Inc is a real estate company. It is formed to acquire, own, manage, finance and capitalize ground leases. The ground leases generally represent ownership of the land underlying commercial real estate projects that is net leased by the fee owner of the land to the owners/operators of the real estate projects built thereon.