The Dow Jones index closed higher by over 500 points on Wednesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.

Lesaka Technologies

• The Trade: Lesaka Technologies, Inc. (NASDAQ:LSAK) Director Ali Mazanderani acquired a total of 322,476 shares an average price of $3.30. To acquire these shares, it cost around $1.06 million.
• What's Happening: On Nov. 7, the company posted upbeat quarterly sales results.
• What Lesaka Technologies Does: Lesaka Technologies Inc provides payment solutions, transaction processing solutions, and financial technologies. The company operates two reportable segments: Merchant and Consumer.

IZEA Worldwide

• The Trade: IZEA Worldwide, Inc. (NASDAQ:IZEA) CEO Edward H Murphy acquired a total of 2,000 shares at an average price of $2.19. To acquire these shares, it cost around $4,380.
• What's Happening: IZEA recently acquired advocate marketing platform Zuberance.
• What IZEA Worldwide Does: IZEA Worldwide Inc is an online marketplace connecting marketers with the content creator that produce and distribute text, videos, and photos for marketers, blogs, and social media channels.

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CareCloud

• The Trade: CareCloud, Inc. (NASDAQ:CCLD) Director Lawrence S. Sharnak acquired a total of 25,000 shares at an average price of $0.71. The insider spent around $17,750 to buy those shares.
• What's Happening: On Nov. 2, CareCloud posted a profit for the third quarter.
• What CareCloud Does: CareCloud Inc is a healthcare information technology company.

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