Although US stocks ended Tuesday mixed, 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.
Adobe
- The trade: Adobe Inc. ADBE Director David Ricks acquired a total of 1,200 shares an average price of $280.56. The purchase of these shares cost around US$336.67,000.
- What’s happening: MoffettNathanson recently began coverage of Adobe with a hold rating and announced a price target of $354.
- What Adobe does: Adobe provides creative professionals and marketers with software and services to create, manage, deliver, measure, optimize, and interact with compelling content across multiple operating systems, devices, and media.
FedEx
- The trade: FedEx Corporation FDX Director R Brad Martin acquired a total of 1,977 shares at an average price of $144.19. Acquisition of these shares cost about 285.06 thousand US dollars.
- What’s happening: Morgan Stanley kept FedEx with an equal weight and lowered the price target to $125 from $250.
- What FedEx does: FedEx pioneered overnight delivery in 1973 and remains the world’s largest provider of express parcels.
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Lazydays Stocks
- The trade: Lazydays Holdings, Inc. LAZY 10% owner Bryant Riley bought a total of 19,950 shares at an average price of $12.74. Acquisition of these shares cost about 254.13 thousand US dollars.
