Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Wednesday, Akamai Technologies Inc (NASDAQ:AKAM)'s Chief Executive Officer, F. Thomson Leighton, made a $1.04M buy of AKAM, purchasing 30,000 shares at a cost of $34.75 each. Akamai Technologies Inc is trading up about 0.1% on the day Friday. Before this latest buy, Leighton purchased AKAM at 3 other times during the past twelve months, for a total investment of $9.12M at an average of $30.69 per share.
And at Express Scripts Holding Co (NASDAQ:ESRX), there was insider buying on Thursday, by Director Mahon Thomas P. Mac Mahon who purchased 5,000 shares for a cost of $59.58 each, for a trade totaling $297,924. Express Scripts Holding Co is trading up about 1.3% on the day Friday. Investors can buy ESRX at a price even lower than Mac Mahon did, with shares changing hands as low as $58.65 in trading on Friday -- that's 1.6% below Mac's purchase price.
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