4 Stocks Insiders Are Buying: Stitch Fix, New York City REIT And More

US stock futures moved lower on Tuesday, ahead of a batch of corporate earnings and the FOMC monetary policy decision on Wednesday. Investors, meanwhile, focussed on some notable insider buys.

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.

Stitch Fix

• The Trade: Stitch Fix, Inc. SFIX 10% owner Chan Kenneth Hsiangtze acquired a total of 100,000 shares at an average price of $16.10. To acquire these shares, it cost around $1.61 million.
• What’s Happening: Stitch Fix appointed Sachin Dhawan as Chief Technology Officer effective today, January 24.
• What Stitch Fix Does: Stitch Fix Inc offers personal style service for men and women. The company engages in delivering one-to-one personalization to clients through the combination of data science and human judgment.

Luminar Technologies

• The Trade: Luminar Technologies, Inc. LAZR Chairperson, President and CEO Austin Russell acquired a total of 65,000 shares at an average price of $10.63. To acquire these shares, it cost $892.63 thousand.
• What’s Happening: The company recently posted a wider-than-expected quarterly loss.
• What Luminar Technologies Does: Limoneira Co is an agribusiness company. The company's operating segments include Fresh Lemons; Lemon Packing; Avocados; Other Agribusiness and Corporate and Other.

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New York City REIT

• The Trade: New York City REIT, Inc. NYC Director Abby M Wenzel bought a total of 8,270 shares at an average price of $12.07. To acquire these shares, it cost $99.86 thousand.
• What’s Happening: New York City REIT said it collected 95% of the original cash rent due for the fourth quarter 2021 as of January 19, 2022.
• What New York City REIT Does: New York City REIT Inc is formed to invest its assets in office properties located in the five boroughs of New York City, with a focus on Manhattan.

Safehold

• The Trade: Safehold Inc. SAFE 10% owner Istar Inc bought a total of 8,403 shares at an average price of $59.49. The insider spent $499.89 thousand to buy those shares.
• What’s Happening: Mizuho, last week, downgraded Safehold from Buy to Neutral and lowered the price target from $96 to $75.
• What Safehold Does: Safehold Inc is a real estate company. It is formed to acquire, own, manage, finance and capitalize ground leases. The ground leases generally represent ownership of the land underlying commercial real estate projects that is net leased by the fee owner of the land to the owners/operators of the real estate projects built thereon.