Lions Gate And These 2 Other Stocks Insiders Are Buying

Although US stocks closed sharply lower on Thursday, 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.

Freshworks

• The Trade: Freshworks Inc. FRSH Director Sameer Gandhi acquired a total of 125,901 shares an average price of $14.92. To acquire these shares, it cost around $1.88 million.
• What’s Happening: Credit Suisse initiated coverage on Freshworks with a Neutral rating and announced a price target of $14.
• What Freshworks Does: Freshworks Inc provides software as a service platform that enables small and medium-sized businesses to support customers through e-mail, phone, website, and social networks.

Coinbase Global

• The Trade: Coinbase Global, Inc. COIN Director Tobias Lutke acquired a total of 8,685 shares at an average price of $46.04. To acquire these shares, it cost around $399.86 thousand.
• What’s Happening: Keybanc recently initiated coverage on Coinbase Global with a Sector Weight rating.
• What Coinbase Global Does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.

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

Also check this: Volatility In Markets Increases Sharply Amid Recession Concerns

Lions Gate Entertainment

• The Trade: Lions Gate Entertainment Corp. (NYSE: LGF-B) Director Gordon Crawford bought a total of 100,000 shares at an average price of $6.18. To acquire these shares, it cost around $617.7 thousand.
• What’s Happening: Lionsgate, last month, reported second quarter revenue of $875.2 million.
• What Lions Gate Entertainment Does: Lions Gate Entertainment Corp is a filmed entertainment studio with a presence in motion pictures, television programming, home entertainment, and digitally delivered content.