$14M Bet On This Technology Stock? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed mixed on Tuesday, 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.

Impinj

• The Trade: Impinj, Inc. PI Director Patrick Daniel Gibson acquired a total of 111,697 shares an average price of $125.13. To acquire these shares, it cost around $13.98 million.
• What’s Happening: The company recently posted upbeat quarterly results.
• What Impinj Does: Impinj Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's identity, location, and authenticity to business and consumer applications.

PhenixFIN

• The Trade: PhenixFIN Corporation PFX Chairman and CEO David A Lorber acquired a total of 3,063 shares at an average price of $36.19. To acquire these shares, it cost around $110.84 thousand.
• What’s Happening: PhenixFIN recently posted a rise in quarterly earnings.
• What PhenixFIN Does: PhenixFIN Corp formerly Medley Capital Corp is a non-diversified closed end management investment company operating in United States.

Don’t forget to check out our premarket coverage here

Freshworks

• The Trade: Freshworks Inc. FRSH 10% owner Sumir Chadha bought a total of 279,564 shares at an average price of $15.78. To acquire these shares, it cost around $4.41 million.
• What’s Happening: Freshworks recently posted better-than-expected quarterly earnings.
• What Freshworks Does: Freshworks Inc provides software as a service platform that enables small and medium-sized businesses to support customers through e-mail, phone, website, and social networks.

Check This Out: US Stocks Settle Mixed; Investor Optimism Improves

Phathom Pharmaceuticals

• The Trade: Phathom Pharmaceuticals, Inc. PHAT Director Asit Parikh bought a total 5,000 shares at an average price of $7.73. The insider spent around $38.66 thousand to buy those shares.
• What’s Happening: The FDA formally asked for additional stability data to demonstrate that levels of the impurity previously found in Phathom Pharmaceuticals’ vonoprazan drug product will remain at or below the daily acceptable intake throughout the proposed shelf life of the product.
• What Phathom Pharmaceuticals Does: Phathom Pharmaceuticals Inc operates as a clinical-stage biopharmaceutical company.