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, Audience Inc (ADNC)'s VP of Engineering, Eitan Asher Medina, made a $552,691 purchase of ADNC, buying 68,008 shares at a cost of $8.13 each. Investors have the opportunity to grab ADNC even cheaper than Medina did, with the stock trading as low as $7.80 in trading on Wednesday -- that's 4.0% below Medina's purchase price. Audience Inc is trading off about 3.6% on the day Wednesday. Before this latest buy, Medina bought ADNC at 2 other times during the past year, for a total cost of $240,860 at an average of $7.38 per share.
And at Pacific Biosciences California Inc (NASDAQ:PACB), there was insider buying on Friday, by Chairman, CEO & President Michael Hunkapiller who bought 262,300 shares at a cost of $1.16 each, for a total investment of $303,610. Before this latest buy, Hunkapiller bought PACB at 2 other times during the past year, for a total cost of $895,900 at an average of $1.61 per share. Pacific Biosciences California Inc is trading down about 0.2% on the day Wednesday. So far Hunkapiller is in the green, up about 16.6% on their purchase based on today's trading high of $1.35.
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