ENGLEWOOD, CO – Paragon 28, Inc. (NYSE:FNA) reported a significant purchase of shares by a high-ranking executive, according to a recent filing with the Securities and Exchange Commission. Albert DaCosta, who serves as President and Chief Executive Officer, acquired 28,000 shares of common stock on March 15, 2024.
The transaction was executed at a weighted average price of $9.1152 per share, resulting in a total investment of approximately $255,225. The shares were bought in multiple transactions at prices ranging from $8.93 to $9.18. Following this purchase, DaCosta now directly and indirectly owns over 5.3 million shares of Paragon 28.
Paragon 28, based in Englewood, Colorado, specializes in the development of medical instruments and apparatus, a field that continues to grow with technological advancements and an aging population. This buy is a sign of confidence from DaCosta in the company's future prospects.
The shares acquired by DaCosta are held by The DaCosta Family Trust, of which he is a trustee, and DaCosta Investment Company, LLC, where he is a manager. The filing also noted that his total holdings include 398,388 restricted stock units.
Investors often monitor insider transactions as they can provide insights into the executive's view of the company's valuation and future performance. However, it's important to note that there are many reasons why an executive might choose to buy or sell stock, and such transactions don't always reflect the executive's outlook on the company's future performance.
For those interested in Paragon 28's stock movements and executive transactions, the company's ticker is listed on the NYSE as FNA.
InvestingPro Insights
Paragon 28, Inc. (NYSE:FNA) has recently drawn attention not only through insider transactions but also through its financial metrics and market performance. An analysis of real-time data from InvestingPro reveals several key insights about the company's current financial health and market sentiment.
InvestingPro Data indicates that Paragon 28 has a market capitalization of 755.47 million USD, which provides investors with a sense of the company's size and market value. Despite the recent insider purchase by CEO Albert DaCosta, the stock has experienced a notable decline, with a 1-week price total return of -13.47% and a 1-month price total return of -34.58%. This could suggest a potential buying opportunity for investors, as the current price may not fully reflect the company's intrinsic value, especially considering the InvestingPro Fair Value estimate stands at 9.72 USD, slightly above the previous close price of 9.12 USD.
On the financial front, Paragon 28's revenue growth over the last twelve months as of Q4 2023 was a solid 19.3%, which is a positive sign of the company's ability to increase 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 net income during that time.
Two InvestingPro Tips that could be particularly relevant for investors considering Paragon 28 are:
- The company's RSI suggests the stock is in oversold territory, which might interest investors looking for potential rebound opportunities.
- Analysts do not anticipate the company will be profitable this year, which is important for investors to consider in their valuation and long-term outlook of the company.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available for Paragon 28 at https://www.investing.com/pro/FNA. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to an extended list of tips and metrics that could further inform investment decisions.
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