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 Friday, Akamai Technologies Inc (NASDAQ:AKAM)'s Chief Scientist, F. Thomson Leighton, made a $3.31M purchase of AKAM, buying 100,000 shares at a cost of $33.14 each. So far Leighton is in the green, up about 3.3% on their purchase based on today's trading high of $34.25. Akamai Technologies Inc is trading up about 4.2% on the day Tuesday. Before this latest buy, Leighton made one other buy in the past year, purchasing $1.63M shares at a cost of $32.66 a piece.
And at Alkermes (NASDAQ:ALKS), there was insider buying on Thursday, by Director Floyd E. Bloom who purchased 20,000 shares at a cost of $17.59 each, for a trade totaling $351,828. Alkermes plc is trading up about 2.2% on the day Tuesday.
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