ENGLEWOOD, CO – Paragon 28, Inc. (NYSE:FNA) reported a large stock purchase by a senior executive, according to a recent filing with the Securities and Exchange Commission. Albert DaCosta, who serves as President and Chief Executive Officer, purchased 28,000 shares of common stock on March 15, 2024.
The transaction was concluded at a weighted average price of US$9.1152 per share, bringing the total investment to approximately US$255,225. The shares were bought in multiple trades at prices ranging from $8.93 to $9.18. With this purchase, DaCosta now directly and indirectly owns more than 5.3 million Paragon 28 shares.
Paragon 28, based in Englewood, Colorado, specializes in the development of medical instruments and devices, an area that continues to evolve with technological advances and the aging population. The purchase is a sign of DaCosta’s confidence in the company’s future prospects.
The shares acquired by DaCosta are owned by The DaCosta Family Trust, of which he is a trustee, and DaCosta Investment Company, LLC, of which he is a manager. The filing also notes that his total assets include 398,388 restricted stock units.
Investors often track insider transactions because they can provide information about management’s views on a company’s valuation and future performance. However, it is important to note that there are many reasons why an executive may decide to buy or sell shares, and such transactions do not always reflect the executive’s views on the company’s future performance.
For those interested in the stock movements and trading of Paragon 28 executives, the company’s ticker symbol is listed on the NYSE as FNA.
InvestingAbout Insights
Paragon 28, Inc. (NYSE:FNA) has recently attracted attention not only for its insider transactions, but also for its financial performance and market performance. InvestingPro’s real-time data analysis reveals several key insights into a company’s current financial health and market sentiment.
InvestingPro data shows Paragon 28 has a market capitalization of US$755.47 million, giving investors an idea of the company’s size and market value. Despite CEO Albert DaCosta’s recent insider buying, the stock has fallen notably, with a 1-week total price return of -13.47% and a 1-month total price return of -34.58%. This could indicate a potential buying opportunity for investors as the current price may not fully reflect the company’s intrinsic value, especially since InvestingPro’s fair value estimate is $9.72, slightly higher than the previous closing price of $9.12 .
On the financial front, Paragon 28’s revenue growth over the trailing twelve months through Q4 2023 was a solid 19.3%, which is a positive sign of the company’s ability to grow sales. However, the company’s profitability is under scrutiny, with a negative P/E ratio of -17.36 and an adjusted P/E ratio of -16.7 for the same period, indicating that it did not generate a net profit during this period .
Two InvestingPro tips that may be especially relevant to investors considering Paragon 28:
- The company’s RSI suggests the stock is in oversold territory, which could be of interest to investors looking for potential recovery opportunities.
- Analysts do not expect the company to be profitable this year, which is important for investors to consider when assessing the company’s long-term prospects.
For investors seeking more comprehensive analysis, additional InvestingPro tips for Paragon 28 are available at https://www.investing.com/pro/FNA. Use coupon code PRONEWS24 receive an additional 10% discount on annual or biennial Pro and Pro+ subscriptions, and access an expanded list of tips and metrics that can further inform investment decisions.
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