$10 Million Bet On NortonLifeLock? 4 Stocks Insiders Are Buying

Although US stocks closed lower on Tuesday, 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.

NortonLifeLock

• The Trade: NortonLifeLock Inc. NLOK President Ondrej Vleck acquired a total of 456,475 shares an average price of $21.91. To acquire these shares, it cost around $10 million.
• What’s Happening: NortonLifeLock, last month, reported worse-than-expected Q1 sales results.
• What NortonLifeLock Does: NortonLifeLock is a cybersecurity pure-play that offers security, identity protection, and privacy solutions to individual consumers.

CNA Financial

• The Trade: CNA Financial Corporation CNA 10% owner Loews Corp acquired a total of 204,697 shares at an average price of $38.88. To acquire these shares, it cost around $7.96 million.
• What’s Happening: CNA Financial, last month, reported worse-than-expected Q2 EPS results..
• What CNA Financial Does: CNA Financial Corporation (CNAF) is an insurance holding company that provides commercial property and casualty insurance.

Don’t forget to check out our premarket coverage here .

Also check this: Fear Among US Investors Is Increasing, Here's Why

Braze

• The Trade: Braze, Inc. BRZE Director Matthew Jacobson bought a total of 414,137 shares at an average price of $35.01. To acquire these shares, it cost around $14.5 million.
• What’s Happening: Braze recently reported Q2 earnings results and issued Q3 adjusted EPS guidance below estimates.
• What Braze Does: Braze Inc is a customer engagement platform that powers customer-centric interactions between consumers and brands.

Medpace Holdings

• The Trade: Medpace Holdings, Inc. MEDP 10% owner Medpace Investors LLC bought a total 156,635 shares at an average price of $151.92. The insider spent around $23.8 million to buy those shares.
• What’s Happening: UBS recently initiated coverage on Medpace Hldgs with a Sell rating and announced a price target of $142.
• What Medpace Does: Medpace Holdings Inc is a clinical contract research organization.