when insiders purchase or sell shares it indicates their confidence or concern around the companys prospects investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision below is a look at a few recent notable insider transactions for penny stocks for more check out benzingas insider transactions platform  the trade performant financial corporation nasdaq pfmt 10 owner phil frohlich bought a total of 853242 shares at an average price of 361 to acquire these shares it cost 307772587 what’s happening performant financial during august priced its public offering of 10525 million shares at 380 per share what performant financial does performant financial corp provides technologyenabled recovery and related analytics services in the united states  the trade petvivo holdings inc nasdaq petv director james martin acquired a total of 1600 shares shares at an average price of 246 the insider spent 393719 to buy those shares what’s happening the company’s shares dropped around 28 over the previous month what petvivo holdings does petvivo holdings is a usbased biomedical device company that focuses on the licensing and commercialization of medical devices and therapeutics for pets suffering from osteoarthritis and other afflictions