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, Athenahealth (NASDAQ:ATHN)'s Director, Jeffrey R. Immelt, made a $996,800 purchase of ATHN, buying 7,200 shares at a cost of $138.44 a piece. Athenahealth is trading up about 1.9% on the day Thursday. Before this latest buy, Immelt made one other purchase in the past twelve months, buying $498,398 shares for a cost of $138.44 each.
And also on Tuesday, CFO Geoffrey G. Jervis bought $550,077 worth of Safety, Income & Growth (NYSE:SAFE), buying 33,850 shares at a cost of $16.25 each. Before this latest buy, Jervis purchased SAFE on 18 other occasions during the past year, for a total cost of $818,140 at an average of $19.74 per share. Safety, Income & Growth is trading up about 0.2% on the day Thursday.
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