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Top Buys by Top Brass: CEO Grossman's $735.5K Bet on NVRO
By Market News Video Staff, Tuesday, August 17, 12:14 PM ET
A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $735.5K by D. Keith Grossman, CEO at Nevro Corp (NYSE:NVRO).
Grossman bets big on NVRO:
Purchased
Insider
Title
Shares
Price/Share
Value
08/13/2021
D. Keith Grossman
Chairman, President & CEO
7,000
$105.07
$735,490.00
Grossman's average cost works out to $105.07/share. In trading on Tuesday, bargain hunters could buy shares of Nevro Corp (NYSE:NVRO) and achieve a cost basis lower than Grossman, with shares changing hands as low as $101.20 per share. Shares of Nevro Corp were changing hands at $101.94 at last check, trading down about 0.8% on Tuesday. The chart below shows the one year performance of NVRO shares, versus its 200 day moving average:
Looking at the chart above, NVRO's low point in its 52 week range is $99.54 per share, with $188.14 as the 52 week high point — that compares with a last trade of $101.94.
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