Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Akamai Technologies, a filing with the SEC revealed that on Friday, Chief Executive Officer F. Thomson Leighton bought 19,817 shares of AKAM, at a cost of $50.45 each, for a total investment of $999,768. So far Leighton is in the green, up about 3.7% on their purchase based on today's trading high of $52.34. Akamai Technologies is trading up about 2.7% on the day Monday. Before this latest buy, Leighton bought AKAM on 7 other occasions during the past year, for a total investment of $7M at an average of $54.50 per share.
And at H.B. Fuller, there was insider buying on Wednesday, by Vice President, Asia Pacific Dietrich J. Crail who bought 970 shares at a cost of $51.41 each, for a total investment of $49,864. H.B. Fuller is trading up about 0.2% on the day Monday.
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