$3M Bet On Expensify? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed lower 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.

Axalta Coating Systems

• The Trade: Axalta Coating Systems Ltd. AXTA CEO and President Chris Villavarayan acquired a total of 33,710 shares an average price of $29.67. To acquire these shares, it cost around $1 million.
• What’s Happening: Axalta Coating Systems reported worse-than-expected second-quarter financial results and issued FY23 guidance below estimates.
• What Axalta Coating Systems Does: Axalta Coating Systems Ltd is a manufacturer, marketer and distributor of high-performance coatings systems. It operates in two segments, The Performance Coatings segment provides liquid and powder coatings solutions to a fragmented and local customer base.

Expensify

• The Trade: Expensify, Inc. EXFY 10% owner SF Roofdeck GP LLC acquired a total of 499,946 shares at an average price of $5.99. To acquire these shares, it cost around $3 million. The company’s CEO Bill Burns also bought 1,000 shares of the company.
• What’s Happening: Expensify posted a loss for the second quarter.
• What Expensify Does: Expensify Inc is a cloud-based expense management software platform that helps the smallest to the largest businesses simplify the way they manage money.

Don’t forget to check out our premarket coverage here

Marriott Vacations Worldwide

• The Trade: Marriott Vacations Worldwide Corporation VAC President and CEO John Geller Jr bought a total of 5,000 shares at an average price of $112.84. To acquire these shares, it cost around $564,200. The company’s EVP, CFO also bought the company’s shares.
• What’s Happening: Marriott Vacations posted worse-than-expected second-quarter results.
• What Marriott Vacations Worldwide Does: Marriott Vacations Worldwide Corp functions in the United States leisure industry.

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