Executives Buy Around $500M Of 4 Stocks

US stocks traded lower on Friday after recording sharp losses on Thursday. Investors, meanwhile, focused on some 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.

Kodiak Sciences

• The Trade: Kodiak Sciences Inc. KOD Director Felix Baker acquired a total of 400,965 shares at an average price of $54.45. To acquire these shares, it cost around $21.83 million.
• What’s Happening: Barclays recently lowered the firm's price target on Kodiak Sciences to $50 from $81 and kept an Underweight rating on the shares.
• What Kodiak Sciences Does: Kodiak Sciences Inc is a clinical-stage company. It is engaged in developing innovative therapeutics to treat the high prevalence of ophthalmic diseases.

Newmark Group

• The Trade: Newmark Group, Inc. NMRK Chairman Howard W Lutnick acquired a total of 100,000 shares at an average price of $16.49. To acquire these shares, it cost around $1.65 million.
• What’s Happening: The company recently posted upbeat quarterly results.
• What Newmark Group Does: Newmark Group Inc is a commercial real estate advisory firm. It offers services, including leasing and corporate advisory services, investment sales, commercial mortgage brokerage, appraisal and valuation, project management, and property, among others.

Also check this: 3 Penny Stocks Insiders Are Buying

Dun & Bradstreet Holdings

• The Trade: Dun & Bradstreet Holdings, Inc. DNB Director DNB Holdco Llc bought a total of 2,3425,921 shares at an average price of $19.86. To acquire these shares, it cost around $465.24 million.
• What’s Happening: The company posted better-than-expected quarterly results.
• What Dun & Bradstreet Does: Dun & Bradstreet Holdings Inc is one of the leading providers of business decisioning data and analytics. The company provides commercial credit decisioning, which helps businesses to make informed decisions when considering extending business loans and trade credit.

Warby Parker

• The Trade: Warby Parker Inc. WRBY 10% owner Durable Capital Partners Lp bought a total of 386,206 shares at an average price of $30.33. The insider spent around $11.71 million to buy those shares.
• What’s Happening: Goldman Sachs maintained Warby Parker with a Buy and lowereds the price target from $68 to $42.
• What Warby Parker Does: Warby Parker Inc is engaged in designing and development of designer prescription glasses and contacts to eye exams and vision tests.