Insiders Buy Around $98M Of 3 Stocks

Although US stock futures traded lower this morning amid continued Russian bombing in Ukraine, 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.

Republic Services

• The Trade: Republic Services, Inc. RSG 10% owner William Gates III acquired a total of 637,253 shares at an average price of $116.83. To acquire these shares, it cost around $74.45 million.
• What’s Happening: The company recently posted upbeat Q4 earnings.
• What Republic Services Does: Republic Services ranks as the second- largest integrated provider of traditional solid waste services in the United States, operating roughly 186 active landfills and more than 200 transfer stations.

TELA Bio

• The Trade: TELA Bio, Inc. TELA 10% owner Ew Healthcare Partners Fund Ugp Llc acquired a total of 759,808 shares at an average price of $11.75. To acquire these shares, it cost around $8.93 million.
• What’s Happening: The company’s stock dropped around 2% over the past month.
• What TELA Bio Does: TELA Bio Inc is a United States-based medical technology company. The company is involved in developing and marketing of tissue reinforcement materials to address unmet needs in soft tissue reconstruction.

Also check this: 3 Penny Stocks Insiders Are Buying

EverQuote

• The Trade: EverQuote, Inc. EVER Director David Blundin bought a total of 1,004,016 shares at an average price of $14.94. To acquire these shares, it cost around $15 million.
• What’s Happening: EverQuote announced a $15 million private placement investment by chairman and co-founder.
• What EverQuote Does: EverQuote Inc is a US-based company engaged in the business activity of offering an online marketplace for insurance shopping.