$20 Million Bet On Datadog? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed lower on Monday, 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.

Appian

• The Trade: Appian Corporation APPN 10% owner Colin Moran acquired a total of 296,831 shares an average price of $39.52. To acquire these shares, it cost around $11.73 million.
• What’s Happening: Appian said on November 9, 2022, that it entered into a confidential settlement agreement with Pegasystems and Business Process Management.
• What Appian Does: Appian Corp provides a low-code software development platform as a service that enables organizations to rapidly develop powerful and unique applications.

Ball Corporation

• The Trade: Ball Corporation BALL Director Cynthia Niekamp acquired a total of 2,000 shares at at an average price of $51.81. To acquire these shares, it cost around $103.62 thousand.
• What’s Happening: Ball recently reported better-than-expected Q3 sales results.
• What Ball Corporation Does: Ball is the world's largest metal can manufacturer with market share over 40% in its three main regions (North America, Europe, and South America)

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Datadog

• The Trade: Datadog, Inc. DDOG Director Matthew Jacobson bought a total of 296,965 shares at an average price of $67.35. To acquire these shares, it cost around $20 million.
• What’s Happening: Datadog recently reported better-than-expected Q3 results.
• What Datadog Does: Datadog is a cloud-native company that focuses on analyzing machine data.

Six Flags Entertainment

• The Trade: Six Flags Entertainment Corporation SIX Director Arik W Ruchim bought a total 550,000 shares at an average price of $23.72. The insider spent around $13.04 million to buy those shares.
• What’s Happening: Six Flags Entertainment recently reported a third-quarter FY22 sales decline of 21% year-on-year to $504.83 million, missing the consensus of $560.17 million.
• What Six Flags Entertainment Does: Six Flags Entertainment Corp owns and operates theme parks worldwide.