There were a number of notable insider trades, despite the US stocks closing lower on Thursday.
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. 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. It can give conviction to a buying decision.
Below is a look at some recent insider purchases. You can find more information on Benzinga's insider transactions platform.
The Trade: Braze, Inc. Director Matthew Jacobson acquired a total of 36,747 shares at an average price of $35.26. It cost around $1.3 million to acquire these shares.
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