Appian And 2 Other Stocks Bought By Insiders

Although US stocks traded lower on Friday, 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.

James River Group

• The Trade: James River Group Holdings, Ltd. JRVR CEO Frank N. D'Orazio acquired a total of 112,195 shares at an average price of $20.64. To acquire these shares, it cost around $1.03 million.
• What’s Happening: B. Riley Securities maintained James River with a Buy and lowered the price target from $42 to $31.
• What James River Group Does: James River Group Holdings Ltd owns and operates a group of specialty insurance and reinsurance companies. It reports business into four segments.

AutoZone

• The Trade: AutoZone, Inc. AZO Director Brian Hannasch acquired a total of 379.08 shares at an average price of $1,879.30. To acquire these shares, it cost around $712.41 thousand.
• What’s Happening: AutoZone recently reported better-than-expected Q2 EPS and sales results.
• What AutoZone Does: AutoZone is the premier seller of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in the United States.

Also check this: 3 Penny Stocks Insiders Are Buying

Appian

• The Trade: Appian Corporation APPN 10% owner Colin Moran bought a total of 22,875 shares at an average price of $60.38. To acquire these shares, it cost around $1.38 million.
• What’s Happening: Appian, last month, reported better-than-expected Q4 EPS and sales results and issued both Q1 and FY22 EPS and sales guidance above estimates.
• What Appian Does: Appian Corp provides a leading low-code software development platform as a service that enables organizations to rapidly develop powerful and unique applications.