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 Friday, Juno Therapeutics (JUNO)'s Director, Jay T. Flatley, made a $495,217 buy of JUNO, purchasing 20,000 shares at a cost of $24.76 a piece. Investors can buy JUNO even cheaper than Flatley did, with shares changing hands as low as $23.07 in trading on Tuesday which is 6.8% under Flatley's purchase price. Juno Therapeutics is trading off about 1% on the day Tuesday.
And also on Friday, CEO Doug Black bought $314,712 worth of SiteOne Landscape Supply (NYSE:SITE), buying 6,200 shares at a cost of $50.76 a piece. Before this latest buy, Black made one other buy in the past year, purchasing $492,000 shares at a cost of $32.80 a piece. SiteOne Landscape Supply is trading off about 0.4% on the day Tuesday. Black was up about 3.4% on the purchase at the high point of today's trading session, with SITE trading as high as $52.49 in trading on Tuesday.
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