$5M Bet On Snowflake? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insider purchases at Snowflake, Legacy Housing, Mistras Group, and Mirum Pharmaceuticals signal confidence in these companies. Snowflake's CEO bought shares worth $5M, despite a recent downgrade. Legacy Housing and Mistras Group saw insider buys after reporting disappointing financial results. Mirum Pharmaceuticals' CFO purchased shares following FDA approval of its drug, Livmarli.
March 28, 2024 | 12:33 pm
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Legacy Housing's Director Francisco Javier Coll bought 1,650 shares at an average price of $20.02, spending around $33,033, following disappointing Q4 results.
The insider purchase at Legacy Housing could indicate a belief among insiders that the stock is undervalued following its recent financial disappointment.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Mistras Group's Interim President and CEO Manuel N. Stamatakis acquired 15,000 shares at $6.00 each, totaling $90,000, after reporting below-expectation earnings.
The insider purchase by Mistras Group's CEO following poor earnings could be seen as a strong vote of confidence in the company's recovery and future prospects.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Mirum Pharmaceuticals' CFO Eric Bjerkholt bought 2,000 shares at $24.80 each, spending around $49,600, after the FDA approved its drug Livmarli.
The CFO's purchase post-FDA approval suggests strong belief in the commercial success of Livmarli, potentially indicating positive future performance for Mirum Pharmaceuticals.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 85
POSITIVE IMPACT
Snowflake's CEO purchased 31,542 shares at an average price of $158.52, totaling around $5 million, despite a recent downgrade by Redburn Atlantic.
The CEO's substantial investment signals strong internal confidence in Snowflake's future, potentially outweighing the recent analyst downgrade.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90