$1M Bet On Plains GP Holdings? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed mostly 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.

Plains GP Holdings

• The Trade: Plains GP Holdings, L.P. PAGP Chairman and CEO Willie CW Chiang acquired a total of 62,000 shares an average price of $16.24. To acquire these shares, it cost around $1.01 million.
• What’s Happening: Barclays recently downgraded Plains GP Holdings from Equal-Weight to Underweight and announced a $15 price target.
• What Plains GP Holdings Does: Plains All American provides transportation, storage, processing, fractionation, and marketing services for crude oil, refined products, natural gas liquids, liquefied petroleum gas, and related products.

Farmland Partners

• The Trade: Farmland Partners Inc. FPI Executive Chairman Paul A Pittman acquired a total of 100,000 shares at an average price of $10.26. To acquire these shares, it cost around $1.03 million.
• What’s Happening: Farmland Partners shares posted worse-than-expected second-quarter revenue results.
• What Farmland Partners Does: Farmland Partners Inc owns and seeks to acquire high-quality farmland throughout North America.

Don’t forget to check out our premarket coverage here

Asana

• The Trade: Asana, Inc. ASAN President, CEO and Chairman Dustin Moskovitz bought a total of 664,219 shares at an average price of $17.60. To acquire these shares, it cost around $11.69 million.
• What’s Happening: Asana posted a narrower-than-expected quarterly loss.
• 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.

Check This Out: Top 4 Tech And Telecom Stocks That May Rocket Higher This Quarter