3 Stocks Insiders Are Buying
When insiders buy stock, it indicates that they are confident in the company’s prospects or that they view the stock as a bargain. Either way, this indicates a chance to go long on the stock. Insider purchases should not be considered the sole indicator for making an investment or trading decision. At best, it can convince a purchase decision.
Below are some recent notable insider purchases. For more, check out Benzinga’s Insider Trading platform.
The trade: Alphabet Inc. (NASDAQ: GOOGL) Director Larry Page acquired a total of 13889 shares . The insider also sold a total of 1,2289 shares at an average price of $2,729.70.
What is going on: Alphabet recently reported better-than-expected results for the second quarter.
What alphabet does: Alphabet is a holding company, with Google, the internet media giant, as a wholly owned subsidiary.
The trade: Robinhood Markets Inc (NASDAQ: HOOD) CEO Vladimir Tenev acquired a total of 4013657 shares . The insider also sold a total of 3239980 shares at an average price of $37.38.
What is going on: Robinhood Markets recently priced its first public offering at the lower end of its stated range.
What Robinhood does: Robinhood Markets Inc creates a modern financial services platform. It designs its own products and services and delivers them through a single app-based cloud platform backed by proprietary technology.
Beacon roofing delivery
The trade: Beacon Roofing Supply, Inc. (NASDAQ: BECN) 10% owner Cdr Investment Associates Ix Ltd, Cdr Boulder Holdings Lp bought a total of 108056 shares at an average price of $55.53. The insider spent $5,999,971.48 to acquire those shares.
What is going on: Beacon is expected to report its second quarter earnings on August 5, 2021. The company’s shares are up about 35% since the beginning of the year.
What Beacon does: Beacon Roofing Supply Inc manufactures and markets roofing and building materials in the United States and Canada.
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