Insiders Buying FB Financial And 2 Other Stocks

Although US stocks closed mostly flat 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.

Delta Air Lines

• The Trade: Delta Air Lines, Inc. DAL Director David S Taylor acquired a total of 5,000 shares an average price of $33.56. To acquire these shares, it cost around $167.81 thousand. The company’s President Glen W Hauenstein also sold 5,000 shares of the company.
• What’s Happening: DAL reported a first-quarter FY23 adjusted operating revenue growth of 45% year-over-year and +14% from 1Q19 to $11.8 billion, missing the consensus of $11.98 billion.
• What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.

Akamai Technologies

• The Trade: Akamai Technologies, Inc. AKAM CEO Thomson Leighton acquired a total of 603 shares at an average price of $82.94. To acquire these shares, it cost around $50.01 thousand.
• What’s Happening: Piper Sandler upgraded Akamai Techs from Neutral to Overweight and announced a $93 price target.
• What Akamai Technologies Does: Akamai operates a content delivery network, or CDN, which entails locating servers at the edges of networks so its customers, which store content on Akamai servers, can reach their own customers faster, more securely, and with better quality.

Don’t forget to check out our premarket coverage here

FB Financial

• The Trade: FB Financial Corporation FBK 10% owner James Ayers bought a total of 6,800 shares at an average price of $29.34. To acquire these shares, it cost around $199.51 thousand.
• What’s Happening: FB Financial posted better-than-expected Q1 earnings.
• What FB Financial Does: FB Financial Corp is a bank holding company. The company through its wholly-owned bank subsidiary provides commercial and consumer banking services to clients in select markets in Tennessee, North Alabama, and North Georgia.

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