As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Akamai Technologies, a filing with the SEC revealed that on Thursday, Chief Executive Officer F. Thomson Leighton bought 19,468 shares of AKAM, at a cost of $51.36 each, for a total investment of $999,876. So far Leighton is in the green, up about 1.8% on their buy based on today's trading high of $52.26. Akamai Technologies is trading up about 0.3% on the day Tuesday. Before this latest buy, Leighton purchased AKAM at 7 other times during the past year, for a total investment of $11M at an average of $52.61 per share.
And also on Thursday, EVP - President International Michael Mauler bought $269,090 worth of GameStop, buying 10,000 shares at a cost of $26.91 each. GameStop is trading off about 0.7% on the day Tuesday. Mauler was up about 4.7% on the purchase at the high point of today's trading session, with GME trading as high as $28.18 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.