$3.6M Bet On Asana? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed higher 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.

Asana

• The Trade: Asana, Inc. ASAN President, CEO and Chairman Dustin Moskovitz acquired a total of 160,000 shares an average price of $22.65. To acquire these shares, it cost around $3.63 million.
• What’s Happening: Asana reported better-than-expected first-quarter financial results and issued FY24 EPS guidance above estimates.
• What Asana Does: Asana Inc is a software company. The company provides a platform for work management that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.

Dollar General

• The Trade: Dollar General Corporation DG Director Michael Calbert acquired a total of 8,500 shares at an average price of $155.38. To acquire these shares, it cost around $1.32 million.
• What’s Happening: Dollar General filed for mixed shelf offering.
• What Dollar General Does: A leading American discount retailer, Dollar General operates over 19,000 stores in 47 states, selling branded and private-label products across a wide variety of categories.

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Day One Biopharmaceuticals

• The Trade: Day One Biopharmaceuticals, Inc. DAWN 10% owner Len Blavatnik bought a total of 769,230 shares at an average price of $13.00. To acquire these shares, it cost around $10 million.
• What’s Happening: Day One priced 11,538 million share public offering of common stock at $13 per share.
• What Day One Biopharmaceuticals Does: Day One Biopharmaceuticals Inc is a clinical-stage biopharmaceutical company.

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AutoNation

• The Trade: AutoNation, Inc. AN CEO and Director Mark Michael Manley bought a total 7,000 shares at an average price of $144.89. The insider spent around $1.01 million to buy those shares.
• What’s Happening: AN reported a first-quarter FY23 sales decline of 5% year-on-year to $6.40 billion, missing the consensus of $6.63 billion.
• What AutoNation Does: AutoNation is the second largest automotive dealer in the United States, with 2022 revenue of $27 billion and about 250 dealerships, plus 55 collision centers.