Although U.S. stocks closed higher on Friday, 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.
Northwest Bancshares
- The Trade: Northwest Bancshares, Inc. (NASDAQ:NWBI) CFO Douglas M Schosser acquired a total of 7,000 shares at an average price of $14.19. To acquire these shares, it cost around $99,338.
- What's Happening: On July 23, Northwest Bancshares posted upbeat quarterly results.
- What Northwest Bancshares Does: Northwest Bancshares Inc is a stockholding company for Northwest Bank. Northwest Bank is a stock savings bank and a community-oriented financial institution offering personal and banking business solutions, investment management, trust services and insurance products.
Appian
- The Trade: Appian Corporation (NASDAQ:APPN) 10% owner Colin T. Moran acquired a total of 120,200 shares at an average price of $35.95. To acquire these shares, it cost around $4.33 million.
- What's Happening: On July 24, Keybanc analyst Thomas Blakey maintained Appian with an Overweight rating and raised the price target from $37 to $41.
- What Appian Does: Appian is a low-code enterprise platform-as-a-service company focusing on business process management.
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Globe Life
- The Trade: Globe Life Inc. (NYSE:GL) Director Mary E Thigpen bought a total of 3,000 shares at an average price of $90.20. To acquire these shares, it cost around $270,600.
- What's Happening: On July 24, Globe Life posted better-than-expected quarterly earnings.
- What Globe Life Does: Globe Life Inc is an insurance holding company. It provides a variety of life and supplemental health insurance products and annuities to a broad base of customers.
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