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 Wednesday, Adobe Systems, Inc. (NASDAQ:ADBE)'s Director, Amy Banse, made a $190,298 purchase of ADBE, buying 5,000 shares at a cost of $38.06 each. Bargain hunters have the opportunity to pick up ADBE at a price even lower than Banse did, with the stock trading as low as $37.62 in trading on Friday which is 1.2% below Banse's purchase price. Adobe Systems, Inc. is trading down about 0.1% on the day Friday. This buy marks the first one filed by Banse in the past twelve months.
And at Synergy Resources Corp (AMEX:SYRG), there was insider buying on Wednesday, by Director George L. Seward who purchased 15,000 shares for a cost of $5.87 each, for a total investment of $88,100. Before this latest buy, Seward purchased SYRG on 11 other occasions during the past year, for a total cost of $1.48M at an average of $3.91 per share. Synergy Resources Corp is trading up about 0.3% on the day Friday. Seward was up about 5.1% on the purchase at the high point of today's trading session, with SYRG trading as high as $6.17 at last check today.
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