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 Pacific Biosciences of California (PACB), a filing with the SEC revealed that on Tuesday, Director William W. Ericson purchased 123,423 shares of PACB, for a cost of $4.89 each, for a total investment of $603,970. Ericson was up about 13.2% on the buy at the high point of today's trading session, with PACB trading as high as $5.54 in trading on Friday. Pacific Biosciences of California is trading up about 1.6% on the day Friday. This buy marks the first one filed by Ericson in the past twelve months.
And at Cousins Properties (CUZ), there was insider buying on Wednesday, by Thomas G. Cousins who bought 31,943 shares at a cost of $12.65 each, for a total investment of $404,050. This buy marks the first one filed by Cousins in the past year. Cousins Properties is trading off about 0.5% on the day Friday. Cousins was up about 3.2% on the purchase at the high point of today's trading session, with CUZ trading as high as $13.06 at last check today.
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