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 one noteworthy recent insider buy.
At Palo Alto Networks, a filing with the SEC revealed that on Friday, Chief Executive Officer Nikesh Arora bought 62,395 shares of PANW, at a cost of $214.44 each, for a total investment of $13.38M. Investors are able to pick up PANW at a price even lower than Arora did, with shares trading as low as $211.68 in trading on Monday which is 1.3% below Arora's purchase price. Palo Alto Networks is trading off about 0.9% on the day Monday. Before this latest buy, Arora made one other buy in the past twelve months, purchasing $6.62M shares at a cost of $199.20 each.
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