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, a filing with the SEC revealed that on Friday, Director Srinivas Akkaraju purchased 1,055,485 shares of VSAR, for a cost of $1.81 each, for a total investment of $1.91M. So far Akkaraju is in the green, up about 32.3% on their buy based on today's trading high of $2.40. Versartis is trading up about 1.2% on the day Monday. Before this latest buy, Akkaraju made one other buy in the past year, purchasing $2.12M shares at a cost of $2.17 each.
And also on Friday, Director Edward Shapiro purchased $1.73M worth of United Continental Holdings, purchasing 25,000 shares at a cost of $69.15 a piece. Before this latest buy, Shapiro bought UAL at 3 other times during the past year, for a total cost of $5.96M at an average of $66.19 per share. United Continental Holdings is trading up about 3.7% on the day Monday. So far Shapiro is in the green, up about 5.3% on their purchase based on today's trading high of $72.83.
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