Around $13M Bet On Appian? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Several notable insider trades were reported, including significant purchases in Appian Corporation, Pebblebrook Hotel Trust, Warby Parker, and Bassett Furniture Industries. Insider buying often signals confidence in the company's prospects.
August 15, 2024 | 1:14 pm
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NEUTRAL IMPACT
Bassett Furniture Industries' Chairman and CEO Robert H Spilman Jr bought 1,700 shares at an average price of $12.74, costing around $21,656. This follows the company's weak quarterly results posted on July 10.
Despite the weak quarterly results, the insider purchase by the CEO indicates some level of confidence in the company's future. However, the impact on short-term stock prices is likely neutral due to the mixed signals.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Appian Corporation's 10% owner Colin T. Moran acquired 437,187 shares at an average price of $29.04, costing around $12.8 million. This follows Appian's upbeat quarterly results posted on Aug. 1.
The significant insider purchase by a major shareholder, combined with recent positive quarterly results, suggests strong confidence in Appian's future performance, likely boosting short-term stock prices.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Pebblebrook Hotel Trust's Chairman and CEO Jon E Bortz acquired 30,000 shares at an average price of $12.24, costing around $367,340. This follows the company's upbeat quarterly earnings reported on July 24.
The insider purchase by the CEO, along with recent positive earnings, indicates strong confidence in the company's prospects, likely leading to a short-term increase in stock prices.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Warby Parker's Director Bradley E Singer bought 75,000 shares at an average price of $12.88, costing around $965,750. This follows the company's better-than-expected Q2 results and raised FY24 revenue guidance.
The insider purchase by a director, coupled with strong Q2 results and raised revenue guidance, suggests a positive outlook for the company, likely driving short-term stock price gains.
CONFIDENCE 88
IMPORTANCE 75
RELEVANCE 100