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 Versartis (NASDAQ:VSAR), a filing with the SEC revealed that on Tuesday, Director Srinivas Akkaraju bought 976,467 shares of VSAR, at a cost of $2.17 each, for a total investment of $2.12M. Versartis is trading up about 9.4% on the day Wednesday. Before this latest buy, Akkaraju made one other buy in the past twelve months, purchasing $7.00M shares for a cost of $12.25 each.
And at TiVo Corp (NASDAQ:TIVO), there was insider buying on Friday, by CEO Enrique Rodriguez who bought 55,974 shares for a cost of $17.86 each, for a total investment of $999,606. TiVo Corp is trading up about 2.3% on the day Wednesday. Investors have the opportunity to snag TIVO at a price even lower than Rodriguez did, with the stock changing hands as low as $16.40 at last check today -- that's 8.2% under Rodriguez's purchase price.
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