$17.5 Million Bet On Nerdy? Check Out These 3 Penny Stocks Insiders Are Buying

The Dow Jones dropped more than 150 points on Tuesday. Investors, meanwhile, focused on some notable insider trades.

When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.3

Nerdy

• The Trade: Nerdy, Inc. NRDY CEO Charles Cohn bought a total of 5,000,000 shares at an average price of $3.50. To acquire these shares, it cost around $17.5 million.
• What’s Happening: Nerdy recently said it acquired Codeverse.
• What Nerdy Does: Nerdy Inc is a curated direct-to-consumer platform for live online learning. Its purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network.

Nextdoor Holdings

• The Trade: Nextdoor Holdings, Inc. KIND GREYLOCK 16 PRINCIPALS LP acquired a total of 765,000 shares at an average price of $3.31. The insider spent around $2.53 million to buy those shares.
• What’s Happening: Nextdoor Holdings recently reported worse-than-expected Q2 results and issued weak guidance.
• What Nextdoor Does: Nextdoor Holdings Inc is the platform to connect to the neighborhoods. The purpose is to cultivate a kinder world where everyone has a neighborhood.

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Bridgeline Digital

• The Trade: Bridgeline Digital, Inc. BLIN President and CEO Roger E Kahn acquired a total of 38,892 shares at an average price of $1.40. To acquire these shares, it cost around $54.45 thousand.
• What’s Happening: Bridgeline Digital recently posted Q3 EPS of $0.02.
• What Bridgeline Digital Does: Bridgeline Digital Inc is a developer of web application management software and web applications to maximize the performance of critical websites, intranets, and online stores.