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 (NASDAQ: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 (NYSE: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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