$350 Million Bet On This Technology Stock? 3 Stocks Insiders Are Buying

Although US stocks closed higher 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.

Douglas Emmett

• The Trade: Douglas Emmett, Inc. DEI Director Shirley Wang acquired a total of 284,000 shares at an average price of $21.17. To acquire these shares, it cost around $6.01 million.
• What’s Happening: Wells Fargo recently maintained Douglas Emmett with an Overweight and lowered the price target from $28 to $24.
• What Douglas Emmett Does: Douglas Emmett Inc is a real estate investment trust that acquires, develops, and manages office and multifamily properties in Los Angeles, California and Honolulu, Hawaii in the U.S.

Coinbase Global

• The Trade: Coinbase Global, Inc. COIN Director Tobias Lutke acquired a total of 5,894 shares at an average price of $62.00. To acquire these shares, it cost around $365.43 thousand.
• What’s Happening: Daiwa Capital recently upgraded Coinbase Global from Outperform to Buy.
• What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.

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Also check this: HC Wainwright Cuts Price Target On This Stock By 73%, Also Check Out Other Major PT Changes Here

Asana

• The Trade: Asana, Inc. ASAN President, CEO and Director Dustin Moskovitz bought a total of 19,273,127 shares at an average price of $18.16. To acquire these shares, it cost around $350 million.
• What’s Happening: Asana recently reported better-than-expected Q2 EPS and sales results.
• What Asana Does: Asana Inc is a software company. The company provides a platform for work management that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.