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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Tuesday, Procera Networks (PKT)'s Director, Thomas A. Saponas, made a $434,000 buy of PKT, purchasing 50,000 shares at a cost of $8.68 each. Procera Networks is trading up about 1.5% on the day Wednesday. Before this latest buy, Saponas made one other purchase in the past twelve months, buying $567,040 shares at a cost of $11.34 each.
And at Accuray (NASDAQ:ARAY), there was insider buying on Tuesday, by CEO Joshua Levine who bought 50,000 shares at a cost of $8.15 each, for a trade totaling $407,500. This buy marks the first one filed by Levine in the past twelve months. Accuray is trading down about 2.2% on the day Wednesday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.