Did You Bet $1.5 Million on Elastic? Check Out These 4 Stocks That Executives Are Buying – Elastic (NYSE:ESTC)

Although US stocks closed lower on Tuesday, there were some notable insider trades.

When insiders buy shares, this indicates their confidence in the company's prospects or that they consider the stock to be a bargain. In either case, this indicates an opportunity to go long on the stock. Insider buying 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 are some recent insider purchases. For more information, check out Benzinga's Insider Trading platform.

Elastic

• The Trade: Elastic NV ESTC Director Paul R. Auvil III purchased a total of 20,000 shares at an average price of $74.25. The acquisition of these shares cost approximately $1.48 million.
• What's happening: On August 29, Elastic reported quarterly earnings of 35 cents per share, which beat analysts' consensus estimate of 25 cents per share.
• What Elastic does: Elastic is a software company based in Mountain View, California that focuses on search-related products.

US Physical Therapy

• The Trade: United States Physical Therapy, Inc. University of Florida Director Kathleen A Gilmartin purchased a total of 2,000 shares at an average price of $86.09. The acquisition cost her approximately $172,180.
• What's happening: On August 13, US Physical Therapy reported disappointing quarterly earnings.
• What US Physical Therapy does: US Physical Therapy Inc through its subsidiaries operates outpatient physical therapy clinics providing pre- and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and neurological-related injuries.

CECO Environmental

• The Trade: CECO Environmental Corporation. CZECH Director Richard F Wallman bought a total of 10,000 shares at an average price of $28.77. The cost of acquiring these shares was approximately $1.98 million. The company's president and CEO also bought $287,722 worth of shares.
• What's happening: On July 30, CECO Environmental reported worse-than-expected second-quarter revenue results and raised its FY24 revenue estimate above estimates.
• What CECO Environmental does: CECO Environmental Corp serves the energy, industrial and other niche markets.

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