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 (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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