Over $5M Bet On Uber Technologies? 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.

Uber Technologies

• The Trade: Uber Technologies, Inc. UBER Director Yasir Al-Rumayyan acquired a total of 250,000 shares an average price of $20.58. To acquire these shares, it cost around $5.14 million.
• What’s Happening: MoffettNathanson initiated coverage on Uber Technologies with an Outperform rating and announced a price target of $47.
• What Uber Technologies Does: Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food delivery service providers, and shippers with carriers.

Willdan Group

• The Trade: Willdan Group, Inc. WLDN 10% owner Symmes Robert MacArthur acquired a total of 11,392 shares at an average price of $18.23. To acquire these shares, it cost around $207.68 thousand.
• What’s Happening: Willdan recently announced $4.3 million energy savings performance contract.
• What Willdan Group Does: Willdan Group Inc is a provider of professional technical and consulting services to utilities, private industry, and public agencies at all levels of government.

Don’t forget to check out our premarket coverage here

Beacon Roofing Supply

• The Trade: Beacon Roofing Supply, Inc. BECN 10% owner CD&R Boulder Holdings, L.P. bought a total of 107,185 shares at an average price of $55.98. To acquire these shares, it cost around $6 million.
• What’s Happening: Beacon Roofing Supply recently acquired First Coastal Exteriors LLC, with locations in Mobile, Alabama and Pearl, Mississippi.
• What Beacon Roofing Supply Does: Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada.

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Sherwin-Williams

• The Trade: The Sherwin-Williams Company SHW Chairman and CEO John Morikis bought a total 2,207 shares at an average price of $226.70. The insider spent around $500.33 thousand to buy those shares.
• What’s Happening: Sherwin-Williams recently reported worse-than-expected Q4 revenue and issued soft FY23 guidance.
• What Sherwin-Williams Does: Sherwin-Williams is the largest provider of architectural paint in the United States.