$3.5M Bet On JAKKS Pacific? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed higher 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.

JAKKS Pacific

• The Trade: JAKKS Pacific, Inc. JAKK 10% owner Lawrence I Rosen acquired a total of 364,605 shares an average price of $9.48. To acquire these shares, it cost around $3.46 million.
• What’s Happening: Jefferies recently upgraded Jakks Pacific from Hold to Buy and raised the price target from $20 to $23.
• What JAKKS Pacific Does: Jakks Pacific Inc is a multi-brand toy company that designs, produces, markets, and distributes toys and related products, consumables, and related products, electronics and related products, kids' indoor and outdoor furniture, and other consumer products.

Coinbase Global

• The Trade: Coinbase Global, Inc. COIN Director Tobias Lutke acquired a total of 6,612 shares at an average price of $54.38. To acquire these shares, it cost around $359.56 thousand.
• What’s Happening: JP Morgan raised its price target on the stock from $53 to $60.
• 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

TrustCo Bank

• The Trade: TrustCo Bank Corp NY TRST Executive Vice President and CFO Michael M Ozimek bought a total of 1,000 shares at an average price of $33.15. To acquire these shares, it cost around $33.15 thousand.
• What’s Happening: Trustco Bank posted upbeat quarterly earnings.
• What TrustCo Bank Does: Trustco Bank Corp N Y is a savings and loan holding company. The core part of a business consists of accepting deposits and making loans and investments.

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