$70M Bet On This Industrial Stock? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insider trades were noted in Archer Aviation Inc. (ACHR), Asana, Inc. (ASAN), and John Wiley & Sons, Inc. (WLY). ACHR's 10% owner SFS UK 1 LTD. acquired 12,313,234 shares at an average price of $5.68, costing around $70 million. ASAN's President, CEO and Chair Dustin Moskovitz acquired 280,000 shares at an average price of $18.67, costing around $5.23 million. WLY's Director David Dobson bought 5,081 shares at an average price of $29.99, costing around $152,357.
October 19, 2023 | 10:55 am
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POSITIVE IMPACT
Archer Aviation's 10% owner SFS UK 1 LTD. acquired 12,313,234 shares, indicating confidence in the company. This follows an agreement with the Abu Dhabi Investment Office to launch an all-electric air taxi service across the UAE.
The large purchase by a 10% owner indicates strong confidence in the company's prospects, especially following the recent agreement with ADIO. This could potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Asana's President, CEO and Chair Dustin Moskovitz acquired 280,000 shares, indicating confidence in the company. This follows UBS's initiation of coverage on Asana with a Neutral rating and a price target of $20.
The purchase by the CEO indicates confidence in the company's prospects, especially following UBS's initiation of coverage. This could potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
John Wiley & Sons' Director David Dobson bought 5,081 shares, indicating confidence in the company. This follows the announcement of the departure of Brian Napack as President and CEO, with Matthew Kissner appointed as Interim CEO.
The purchase by the Director indicates some confidence in the company's prospects, despite the recent CEO change. The impact on the stock price is uncertain in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100