Over $2M Bet On This Tech Stock? Check Out These 3 Stocks Insiders Are Buying

Author: Avi Kapoor | June 25, 2024 07:55am

Although U.S. stocks closed mixed on Monday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform.

Tile Shop

The Trade: Tile Shop Holdings, Inc. (NASDAQ:TTSH) 10% owner Pleasant Lake Onshore Feeder Fund LP acquired a total of 174,700 shares at an average price of $6.95. To acquire these shares, it cost around $1.2 million.
What's Happening: On May 9, Tile Shop posted better-than-expected quarterly sales.
What Tile Shop Does: Tile Shop Holdings Inc is a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States.

Marvell Technology

The Trade: Marvell Technology, Inc. (NASDAQ:MRVL) Director Daniel Durn acquired a total of 1,425 shares at </em></a> an average price of $70.21. To acquire these shares, it cost around $100,049.
What's Happening: On June 21, Marvell Technology announced a quarterly dividend of 6 cents per share.
What Marvell Technology Does: Marvell Technology is a fabless chip designer focused on wired networking, where it has the second-highest market share.

NextNav

The Trade: NextNav Inc. (NASDAQ:NN) 10% owner Joseph D Samberg bought a total of 315,200 shares at an average price of $7.42. To acquire these shares, it cost around $2.35 million.
What's Happening: On May 16, NextNav announced the appointment of Jonathan Marcus to Board of Directors.
What NextNav Does: NextNav Inc provides GPS service. The company NextNav TerraPoiNT system keeps critical infrastructure resilient with reliable Position, Navigation and Timing services in the absence of GPS.

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Posted In: MRVL NN TTSH