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.
At Shutterfly (NASDAQ:SFLY), a filing with the SEC revealed that on Wednesday, Director Nancy J. Schoendorf bought 15,000 shares of SFLY, for a cost of $44.71 each, for a total investment of $670,623. Schoendorf was up about 8.1% on the purchase at the high point of today's trading session, with SFLY trading as high as $48.34 at last check today.
And at Jacobs Engineering Group (NYSE:JEC), there was insider buying on Wednesday, by Director Christopher M.T. Thompson who purchased 10,000 shares for a cost of $60.71 each, for a total investment of $607,100. This buy marks the first one filed by Thompson in the past year. Jacobs Engineering Group is trading off about 0.1% on the day Friday.
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