A Glimpse Into Insider Trades: Snowflake and Three Other Stocks Worth Noting

Wednesday saw positive closure for U.S. stocks, revealing a handful of intriguing insider trades.

Insiders buying shares typically signal confidence in a company’s future or identify a bargain. It serves as a nudge for investors. Keep in mind that insider moves alone are not a foolproof investment guide.

Let’s delve into some recent notable insider purchases. For a deeper dive, explore Benzinga’s insider transactions platform.

Snowflake

• The Trade: Snowflake Inc. SNOW CEO Sridhar Ramaswamy acquired a total of 31,542 shares an average price of $158.52. The transaction rang in at a hefty $5 million.
• What’s Happening: Redburn Atlantic analyst Alex Haissl downgraded Snowflake to a Sell from Neutral on March 19, setting a $125 price target.
• What Snowflake Does: Snowflake, established in 2012, specializes in data lake, warehousing, and sharing services. The company went public in 2020 and boasts more than 3,000 customers, with nearly 30% of the Fortune 500 among them.

Legacy Housing

• The Trade: Legacy Housing Corporation LEGH Director Francisco Javier Coll purchased 1,650 shares at an average of $20.02 each, amounting to approximately $33,033.
• What’s Happening: Legacy Housing disappointed with lower-than-expected fourth-quarter financial results reported on March 15.
• What Legacy Housing Does: Legacy Housing Corp specializes in building, selling, and financing manufactured homes and tiny houses. Their products are distributed through various channels, including independent retailers and company-owned stores.

Explore our premarket coverage here.

Mistras Group

• The Trade: Mistras Group, Inc. MG Interim President and CEO Manuel N. Stamatakis snagged 15,000 shares at an average price of $6.00 each, totaling around $90,000.
• What’s Happening: Mistras Group reported disappointing fourth-quarter earnings on March 6.
• What Mistras Group Does: MISTRAS Group Inc focuses on providing asset protection solutions and systems, evaluating integrity and reliability in critical energy, industrial, and public infrastructure.

Mirum Pharmaceuticals

• The Trade: Mirum Pharmaceuticals, Inc. MIRM CFO Eric Bjerkholt bought 2,000 shares at an average price of $24.80 per share, investing approximately $49,600.
• What’s Happening: On March 13, the FDA greenlit Livmarli (maralixibat) oral solution for cholestatic pruritus in patients with progressive familial intrahepatic cholestasis (PFIC).
• What Mirum Pharmaceuticals Does: Mirum Pharmaceuticals Inc is a biopharmaceutical firm dedicated to developing and commercializing new therapies for rare and orphan diseases.

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