Although US stocks closed sharply lower on Tuesday, 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.
- The Trade: Freshworks Inc. (NASDAQ:FRSH) Director Sameer Gandhi acquired a total of 786,597 shares at an average price of $14.63. To acquire these shares, it cost around $11.51 million.
- What's Happening: Freshworks named Dennis Woodside as President effective September 1, 2022.
- What Freshworks Does: Freshworks Inc provides software as a service platform that enables small and medium-sized businesses to support customers through e-mail, phone, website, and social networks.
- The Trade: JELD-WEN Holding, Inc. (NYSE:JELD) Director David G Nord acquired a total of 20,000 shares at an average price of $11.00. To acquire these shares, it cost around $220 thousand.
- What's Happening: JELD-WEN recently announced strategic review of its Australasia business.
- What JELD-WEN Holding Does: JELD-WEN Holding Inc is engaged in door and window manufacturing. The company design, produce and distribute interior and exterior building product, offering a selection of doors, windows, walls, and related products.
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Keurig Dr Pepper
- The Trade: Keurig Dr Pepper Inc. (NASDAQ:KDP) Chief Supply Chain Officer Anthony Maurice Milikin bought a total of 12,986 shares at an average price of $38.97. To acquire these shares, it cost around $506.06 thousand.
- What's Happening: Keurig Dr Pepper raised its dividend from $1.875 to $0.20 per share.
- What Keurig Dr Pepper Does: Keurig Dr Pepper, the product of a 2018 merger between Dr Pepper Snapple and Keurig Green Mountain, is the third-largest nonalcoholic beverage company in North America.