Insiders Buying Joby Aviation And 2 Other Stocks

Although US stocks closed 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.

Rocket Companies

• The Trade: Rocket Companies, Inc. RKT CEO Jay Farner acquired a total of 41,500 shares at an average price of $9.62. To acquire these shares, it cost around $399.23 thousand.
• What’s Happening: Wells Fargo recently upgraded the stock from Equal-Weight to Overweight and announced a $10 price target.
• What Rocket Companies Does: Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit.

Joby Aviation

• The Trade: Joby Aviation, Inc. JOBY Director, CEO and Chief Architect Joeben Bevirt acquired a total of 35,000 shares at an average price of $5.53. To acquire these shares, it cost around $193.55 thousand.
• What’s Happening: Joby Aviation is expected to release its Q2 earnings results after the market close on Thursday, August 11, 2022.
• What Joby Aviation Does: Joby Aviation Inc is a transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient air taxi service.

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Also check this: Investor Fear Eases Further, Here's Why

TELA Bio

• The Trade: TELA Bio, Inc. TELA 10% owner Opaleye Management Inc bought a total of 5,200 shares at an average price of $8.02,. To acquire these shares, it cost around $41.71 thousand.
• What’s Happening: TELA Bio said it has been awarded a group purchasing agreement for Synthetic Bioabsorbable Mesh Products with Premier, Inc.
• 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.