Although US stocks closed higher on Friday, there was some notable insider trading.
When insiders buy stock, it shows they have confidence in the company’s prospects or that they see the stock as a bargain. Either way, it signals an opportunity to go long the stock. Insider buying should not be taken as the sole indicator of an investment or trading decision. At best, it can convince a purchase decision.
Below is a look at some notable recent insider purchases. For more information, see Benzinga insider trading Platform.
Douglas Emmett
- The trade: Douglas Emmett, Inc. DEI Director Shirley Wang acquired a total of 284,000 shares an average price of $21.17. The acquisition of these shares cost approximately 6.01 million US dollars.
- What’s happening: Wells Fargo recently kept Douglas Emmett at an overweight position and lowered its price target to $24 from $28.
- What Douglas Emmett does: Douglas Emmett Inc is a real estate investment trust that acquires, develops and manages office and multifamily properties in Los Angeles, California and Honolulu, Hawaii in the United States
Coinbase Global
- The trade: Coinbase Global, Inc. COIN Director Tobias Lütke a total of 5,894 shares were acquired at an average price of $62.00. Acquisition of these shares cost about 365.43 thousand US dollars.
- What’s happening: Daiwa Capital recently upgraded Coinbase Global to Buy from Outperform.
- What Coinbase Global does: Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States.
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asana
- The trade: Asana, Inc. ASAN President, CEO and Director Dustin Moskovitz bought a total of 19,273,127 shares at an average price of $18.16. The acquisition of these shares cost around 350 million US dollars.
- What’s happening: Asana recently reported better-than-expected second-quarter earnings per share and revenue…
