Monday 6/19 Insider Buying Report: ALXN, AKAM Monday, June 19, 10:40 AM ET
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.
On Thursday, Alexion Pharmaceuticals (ALXN)'s Director made a $77.53M purchase of ALXN, buying 660,779 shares at a cost of $117.33 a piece. Investors are able to buy ALXN even cheaper than Baker did, with the stock trading as low as $114.10 at last check today -- that's 2.8% below Baker's purchase price. Alexion Pharmaceuticals is trading up about 0.5% on the day Monday. Before this latest buy, Baker purchased ALXN at 2 other times during the past year, for a total cost of $313.83M at an average of $116.32 per share.
And at Akamai Technologies (AKAM), there was insider buying on Thursday, by Chief Executive Officer F. Thomson Leighton who purchased 20,397 shares for a cost of $49.02 each, for a trade totaling $999,861. Before this latest buy, Leighton purchased AKAM on 7 other occasions during the past year, for a total cost of $7M at an average of $55.78 per share. Akamai Technologies is trading up about 0.7% on the day Monday. Leighton was up about 2.5% on the purchase at the high point of today's trading session, with AKAM trading as high as $50.24 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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