More Than $4M Bet On Appian? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders have made notable purchases in Northwest Bancshares, Appian, and Globe Life, indicating confidence in these companies. Northwest Bancshares' CFO bought shares following strong quarterly results, Appian's 10% owner made a significant purchase amid an analyst rating upgrade, and a Globe Life director bought shares after better-than-expected earnings.
July 29, 2024 | 1:12 pm
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POSITIVE IMPACT
Appian's 10% owner Colin T. Moran acquired 120,200 shares at an average price of $35.95, costing around $4.33 million. This comes after Keybanc analyst Thomas Blakey maintained an Overweight rating and raised the price target from $37 to $41.
The significant insider purchase, along with an analyst rating upgrade and increased price target, indicates strong confidence in Appian's prospects, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Globe Life Director Mary E Thigpen bought 3,000 shares at an average price of $90.20, costing around $270,600. This follows the company's better-than-expected quarterly earnings posted on July 24.
The insider purchase by a director, combined with better-than-expected quarterly earnings, suggests confidence in the company's future performance, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Northwest Bancshares' CFO Douglas M Schosser acquired 7,000 shares at an average price of $14.19, costing around $99,338. This follows the company's upbeat quarterly results posted on July 23.
The insider purchase by the CFO, combined with strong quarterly results, suggests confidence in the company's future performance, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80