The NFIB Small Business Optimism Index in the US fell to an 11-month low level of 97.1 in January from 98.9 in December. Investors, meanwhile, focused on some 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.
Qualtrics International
- The Trade: Qualtrics International Inc. (NASDAQ:XM) Director Egon Durban acquired a total of 2,04,268 shares at an average price of $28.69. To acquire these shares, it cost around $5.86 million.
- What’s Happening: Qualtrics International recently reported better-than-expected Q4 sales results and issued guidance.
- What Qualtrics International Does: Qualtrics International Inc is a software technology company based in the United States. It develops software for organizations.
PayPal
- The Trade: PayPal Holdings, Inc. (NASDAQ:PYPL) President and CEO Daniel H Schulman acquired a total of 7,994 shares at an average price of $124.57. To acquire these shares, it cost $1 million.
- What’s Happening: PayPal recently reported worse-than-expected Q4 EPS results.
- What PayPal Does: PayPal was spun off from eBay in 2015 and provides electronic payment solutions to merchants and consumers, with a focus on online transactions.
Also check this: Moderna And 4 Other Stocks Sold By Insiders
Calix
- The Trade: Calix, Inc. (NASDAQ:CALX) Director Donald J Listwin bought a total of 10,000 shares at an average price of $50.94. To acquire these shares, it cost around $509.4 thousand.
- What’s Happening: Calix recently reported better-than-expected Q4 EPS and sales results.
- What Calix Does: Calix cloud and software platforms enable service providers of all types and sizes to innovate and transform. The company's customers utilize the real-time data and insights from Calix platforms to simplify their business and deliver experiences that excite their subscribers.
Warby Parker
- The Trade: Warby Parker Inc. (NYSE:WRBY) 10% owner Durable Capital Partners Lp bought a total of 465,341 shares at an average price of $32.98. The insider spent around $15.35 million to buy those shares.
- What’s Happening: The company’s stock dropped around 13% over the previous month.
- What Warby Parker Does: Warby Parker Inc is engaged in designing and development of designer prescription glasses and contacts to eye exams and vision tests.
