$3M Bet On Expensify? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insiders at Axalta Coating Systems Ltd. (AXTA), Expensify, Inc. (EXFY), and Marriott Vacations Worldwide Corporation (VAC) have recently made notable purchases of their companies' stocks. This could indicate their confidence in the companies' prospects or that they view the stocks as a bargain. However, all three companies reported worse-than-expected Q2 results.
August 09, 2023 | 11:14 am
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NEUTRAL IMPACT
Axalta Coating Systems Ltd.'s CEO and President acquired 33,710 shares at an average price of $29.67, costing around $1 million. The company reported worse-than-expected Q2 results and issued FY23 guidance below estimates.
The insider purchase could indicate confidence in the company's long-term prospects despite the recent poor performance. However, the impact on the stock price in the short term is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Expensify, Inc.'s 10% owner and CEO acquired a total of 500,946 shares at an average price of $5.99, costing around $3 million. The company posted a loss for Q2.
The insider purchase could indicate confidence in the company's long-term prospects despite the recent loss. However, the impact on the stock price in the short term is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Marriott Vacations Worldwide Corporation's President and CEO bought 5,000 shares at an average price of $112.84, costing around $564,200. The company posted worse-than-expected Q2 results.
The insider purchase could indicate confidence in the company's long-term prospects despite the recent poor performance. However, the impact on the stock price in the short term is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100