$4.7M Bet On This Tech Stock? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed lower on Friday, 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.

Gen Digital

• The Trade: Gen Digital Inc. GEN President Ondrej Vlcek acquired a total 300,000 shares an average price of $15.79. To acquire these shares, it cost around $4.74 million.
• What’s Happening: Gen Digital reported better-than-expected fourth-quarter results.
• What Gen Digital Does: Gen is a cybersecurity pure-play that offers security, identity protection, and privacy solutions to individual consumers.

Bread Financial Holdings

• The Trade: Bread Financial Holdings, Inc. BFH 10% owner Turtle Creek Asset Management Inc acquired a total of 112,944 shares at an average price of 29.70. To acquire these shares, it cost around $3.35 million.
• What’s Happening: Bread Finl Hldgs reported an increase in first-quarter EPS.
• What Bread Financial Holdings Does: Formed by a combination of JCPenney's credit card processing unit and The Limited's credit card bank business, Bread Financial is a provider of private label and co-branded credit cards, loyalty programs, and marketing services.

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Howard Hughes

• The Trade: The Howard Hughes Corporation HHC Director William Ackman bought a total of 61,370 shares at an average price of $74.46. To acquire these shares, it cost around $4.57 million.
• What’s Happening: Howard Hughes posted a narrower-than-expected loss for its first quarter.
• What Howard Hughes Does: The Howard Hughes Corp is a real estate company that develops master-planned communities (MPCs) and is involved in other strategic real estate development opportunities across the United States.

Keurig Dr Pepper

• The Trade: Keurig Dr Pepper Inc. KDP Director Robert Singer bought a total 8,500 shares at an average price of $31.88. The insider spent around $270.98 thousand to buy those shares.
• What’s Happening: Keurig Dr Pepper reported first-quarter FY23 sales growth of 8.9% year-on-year to $3.35 billion, beating the consensus of $3.30 billion.
• What Keurig Dr Pepper Does: Keurig Dr Pepper was established in 2018 following a merger between Keurig Green Mountain Coffee and Dr Pepper Snapple.

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