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 Target (NYSE:TGT), a filing with the SEC revealed that on Monday, Director Roxanne S. Austin bought 10,000 shares of TGT, at a cost of $56.78 each, for a total investment of $567,796. Austin was up about 1.4% on the buy at the high point of today's trading session, with TGT trading as high as $57.55 at last check today. Target is trading up about 0.1% on the day Thursday. This buy marks the first one filed by Austin in the past year.
And at ReachLocal (RLOC), there was insider buying on Wednesday, by Chief Executive Officer Sharon T. Rowlands who purchased 80,000 shares for a cost of $6.13 each, for a total investment of $490,792. This purchase marks the first one filed by Rowlands in the past year. ReachLocal is trading up about 5.1% on the day Thursday. Rowlands was up about 6.8% on the buy at the high point of today's trading session, with RLOC trading as high as $6.55 at last check today.
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