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 dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Friday, Salesforce.com (NYSE:CRM)'s Director, Susan Wojcicki, made a $677,468 purchase of CRM, buying 6,000 shares at a cost of $112.91 a piece. Salesforce.com is trading up about 0.2% on the day Tuesday. Before this latest buy, Wojcicki purchased CRM at 5 other times during the past year, for a total investment of $1.05M at an average of $98.69 per share.
And at Grace & Co (NYSE:GRA), there was insider buying on Friday, by VP and CHRO Elizabeth C. Brown who bought 3,700 shares at a cost of $67.17 each, for a trade totaling $248,520. This purchase marks the first one filed by Brown in the past twelve months. Grace & Co is trading up about 0.9% on the day Tuesday. Brown was up about 1.9% on the purchase at the high point of today's trading session, with GRA trading as high as $68.46 at last check today.
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