Tuesday 4/19 Insider Buying Report: AKAM, INO Tuesday, April 19, 10:32 AM ET
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Akamai Technologies (AKAM), a filing with the SEC revealed that on Friday, Chief Executive Officer F. Thomson Leighton purchased 19,546 shares of AKAM, for a cost of $51.15 each, for a total investment of $999,778. So far Leighton is in the green, up about 1.7% on their buy based on today's trading high of $52.04. Akamai Technologies is trading up about 0.5% on the day Tuesday. Before this latest buy, Leighton purchased AKAM at 2 other times during the past twelve months, for a total cost of $6M at an average of $52.32 per share.
And at Inovio Pharmaceuticals (INO), there was insider buying on Friday, by Director Morton Collins who bought 68,400 shares for a cost of $9.52 each, for a total investment of $650,925. This buy marks the first one filed by Collins in the past year. Inovio Pharmaceuticals is trading up about 0.4% on the day Tuesday. So far Collins is in the green, up about 8.7% on their buy based on today's trading high of $10.34.
For MarketNewsVideo.com, I'm Sayoko Murase.
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