Around $8M Bet On Southwest Gas Holdings? Check Out These 4 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.

Asana

• The Trade: Asana, Inc. ASAN President, CEO and Chair Dustin Moskovitz acquired a total of 554,847 shares an average price of $20.08. To acquire these shares, it cost around $11.14 million.
• What’s Happening: Asana posted better-than-expected quarterly results.
• 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.

Southwest Gas Holdings

• The Trade: Southwest Gas Holdings, Inc. SWX 10% owner Icahn Partners Master Fund LP acquired a total of 127,731 shares at an average price of $61.45. To acquire these shares, it cost around $7.85 million.
• What’s Happening: Southwest Gas posted better-than-expected quarterly results.
• What Southwest Gas Holdings Does: Southwest Gas Holdings Inc is a utility company primarily engaged in the purchasing, distributing, and transporting of natural gas in the American Southwest.

Don’t forget to check out our premarket coverage here

Five Below

• The Trade: Five Below, Inc. FIVE President and CEO Joel Anderson bought a total of 3,100 shares at an average price of $161.50. To acquire these shares, it cost around $500,650.
• What’s Happening: Five Below issued third-quarter EPS, revenue and FY23 EPS guidance below estimates.
• What Five Below Does: Five Below is a value-oriented retailer that operated 1,340 stores in the United States as of the end of fiscal 2022. Catering to teen and preteen consumers, its stores feature a wide variety of merchandise, the vast majority of which is priced below $6.

Check This Out: Top 5 Real Estate Stocks That Could Lead To Your Biggest Gains In September

Culp

• The Trade: Culp, Inc. CULP President, Mattress Fabrics Thomas Bruno bought a total of 15,111 shares at an average price of $5.69. The insider spent around $86,030 to buy those shares.
• What’s Happening: Culp posted a narrower-than-expected quarterly loss.
• What Culp Does: Culp Inc manufactures, sources, and markets mattress fabrics and sewn covers used for covering mattresses and box springs and upholstery fabrics including cut and sewn kits used in the production of upholstered furniture.