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.
On Tuesday, Twitter's Chief Executive Officer, Jack Dorsey, made a $7.00M buy of TWTR, purchasing 425,998 shares at a cost of $16.43 a piece. Twitter is trading up about 0.4% on the day Wednesday. This buy marks the first one filed by Dorsey in the past year.
And on Friday, Chief Legal Officer Greerson Greene McMullen purchased $749,222 worth of Coty, purchasing 40,500 shares at a cost of $18.50 each. Coty is trading up about 2.6% on the day Wednesday. McMullen was up about 7.1% on the buy at the high point of today's trading session, with COTY trading as high as $19.81 in trading on Wednesday.
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