Over $2M Bet On Safety Insurance Group? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insider trades were noted in Asana, Inc. (ASAN), Safety Insurance Group, Inc. (SAFT), and Culp, Inc. (CULP). ASAN's CEO acquired 240,000 shares at an average price of $22.90, costing around $5.5 million. SAFT's 10% owner Plymouth Rock Co Inc acquired 32,384 shares at an average price of $67.24, costing around $2.18 million. CULP's Director bought 4,500 shares at an average price of $5.50, costing around $24,750.
July 24, 2023 | 1:02 pm
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POSITIVE IMPACT
Asana's CEO bought 240,000 shares, indicating confidence in the company. Citigroup recently maintained Asana with a Neutral and raised the price target from $24 to $26.
The CEO's purchase of a significant number of shares indicates a strong belief in the company's prospects. This, coupled with Citigroup's raised price target, suggests potential upward movement for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Culp's Director bought 4,500 shares at an average price of $5.50, following a narrower-than-expected fourth-quarter loss.
The director's purchase of shares following a narrower-than-expected loss suggests confidence in the company's recovery. However, the recent loss introduces some uncertainty in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Safety Insurance Group's 10% owner bought 32,384 shares, despite the company posting a net loss for the quarter ended March 31, 2023.
The purchase by a major owner suggests confidence in the company's long-term prospects, despite a recent quarterly loss. This could signal a potential turnaround, but the recent loss introduces uncertainty.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100