Executives Buy Around $88M Of 4 Stocks

The Eurozone economy grew 0.3% on quarter during the final three months of 2021, recording the slowest growth in three quarters amid the spread of the omicron variant. Investors, meanwhile, focused on some 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.

Netflix

• The Trade: Netflix, Inc. NFLX Co-CEO Reed Hastings acquired a total of 51,440 shares at an average price of $388.83. To acquire these shares, it cost around $20 million.
• What’s Happening: Netflix recently reported mixed Q4 earnings results and issued Q1 guidance below estimates.
• What Netflix Does: Netflix's primary business is a streaming video on demand service now available in almost every country worldwide except China.

Asana

• The Trade: Asana, Inc. ASAN President, CEO and Chair Dustin Moskovitz acquired a total of 12,50,000 shares at an average price of $48.97. To acquire these shares, it cost $61.21 million.
• What’s Happening: Keybanc recently maintained Asana with an Overweight and lowered the price target from $103 to $97.
• 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.

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Beacon Roofing Supply

• The Trade: Beacon Roofing Supply, Inc. BECN 10% owner Cdr Boulder Holdings Lp bought a total of 107,456 shares at an average price of $55.84. To acquire these shares, it cost $6 million.
• What’s Happening: Beacon is expected to release its earnings results for the transition period from October 1, 2021 to December 31, 2021 and for the calendar year ended December 31, 2021 on February 3, 2022.
• What Beacon Roofing Supply Does: Beacon Roofing Supply Inc manufactures and sells roofing and building materials throughout the United States and Canada.

Verizon Communications

• The Trade: Verizon Communications Inc. VZ Chairman and CEO Hans Erik Vestberg bought a total of 19,000 shares at an average price of $52.55. The insider spent around $1 million to buy those shares.
• What’s Happening: Verizon recently reported a fourth-quarter FY21 sales decline of 1.8% year-on-year, to $34.1 billion, beating the consensus of $33.9 billion.
• What Verizon Does: Verizon is now primarily a wireless business (more than 70% of revenue and nearly all operating income). It serves about 91 million postpaid and 4 million prepaid phone customers and connects another 25 million data devices, like tablets, via its nationwide network, making it the largest U.S. wireless carrier.