Insiders Buying Pfizer And 2 Other Stocks

Although US stocks closed lower 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.

U.S. Bancorp

• The Trade: U.S. Bancorp USB Vice Chair James B Kelligrew acquired a total 16,260 shares an average price of $30.60. To acquire these shares, it cost around $497.47 thousand.
• What’s Happening: Goldman Sachs recently maintained U.S. Bancorp with a Neutral and lowered the price target from $37 to $32.
• What U.S. Bancorp Does: As a diversified financial-services provider, U.S. Bancorp is one of the nation's largest regional banks, with branches in roughly 26 states, primarily in the Western and Midwestern United States.

LendingClub

• The Trade: LendingClub Corporation LC Director Stephen Cutler acquired a total of 14,657 shares at an average price of $6.77. To acquire these shares, it cost around $99.3 thousand.
• What’s Happening: LendingClub posted better-than-expected quarterly results.
• What LendingClub Does: LendingClub Corp is a company engaged in operating an online lending marketplace platform that connects borrowers and investors for the provision of the loan facility.

Don’t forget to check out our premarket coverage here

Pfizer

• The Trade: Pfizer Inc. PFE Director Scott Gottlieb bought a total of 2,000 shares at an average price of $38.50. To acquire these shares, it cost around $77 thousand.
• What’s Happening: Pfizer reported a Q1 adjusted EPS of $1.23, down 24% Y/Y, beating the consensus of $0.98.
• What Pfizer Does: Pfizer is one of the world's largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 product sales).

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