Insider trades can offer valuable insights into the market. When executives invest in their own companies, it often indicates their belief in the company’s future prospects or that they see the stock as undervalued. While insider purchases shouldn’t be the sole factor in making investment decisions, they can add weight to a buying decision. Here’s a look at some recent notable insider purchases:
Appian Corporation (APPN)
Colin T. Moran, a 10% owner of Appian, acquired 437,187 shares at an average price of $29.04, investing roughly $12.8 million. This purchase comes after Appian announced upbeat quarterly results on August 1st. Appian is a leading provider of low-code enterprise platform-as-a-service solutions, specializing in business process management.
Pebblebrook Hotel Trust (PEB)
Jon E Bortz, Chairman and CEO of Pebblebrook Hotel Trust, purchased 30,000 shares at an average price of $12.24, spending approximately $367,340. This purchase follows the company’s strong quarterly earnings report on July 24th. Pebblebrook Hotel Trust owns and operates upper upscale and luxury hotels across the United States, boasting 11,924 rooms in 46 hotels.
Warby Parker Inc. (WRBY)
Bradley E Singer, a Director at Warby Parker Inc., acquired 75,000 shares at an average price of $12.88, investing around $965,750. This purchase comes after Warby Parker reported better-than-expected second-quarter financial results on August 8th, raising its revenue guidance for fiscal year 2024. Warby Parker designs and develops designer prescription glasses and contacts, offering eye exams and vision tests.
Bassett Furniture Industries, Incorporated (BSET)
Robert H Spilman Jr., Chairman and CEO of Bassett Furniture Industries, acquired 1,700 shares at an average price of $12.74, spending around $21,656. This purchase follows the company’s weaker-than-expected quarterly results announced on July 10th. Bassett Furniture Industries is a prominent manufacturer, marketer, and retailer of home furnishings products in the United States.
Insider trades can provide valuable insight into the market, offering signals of confidence from those directly involved in the companies’ operations. However, remember that these purchases are just one data point to consider when making investment decisions.
